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Borr Drilling to buy five rigs from Noble for $360M, expanding fleet and shifting focus to premium jack-ups.
Borr Drilling has agreed to buy five premium jack-up rigs from Noble Corporation for $360 million, with $210 million in cash and $150 million in seller notes, closing in early 2026.
Two rigs will be chartered back to Noble for 12 months, generating $29 million in earnings.
The deal, financed via notes, equity, and seller credit, will expand Borr’s fleet to 29 rigs and boost its position as the owner of the youngest premium jack-up fleet.
Noble plans to use the proceeds to focus exclusively on deepwater and ultra-harsh environment drilling, strengthening its balance sheet and improving shareholder returns.
A separate $64 million sale of one rig to Ocean Oilfield Drilling is expected in Q2 2026.
Borr Drilling comprará cinco plataformas de Noble por 360 millones de dólares, expandiendo la flota y cambiando el enfoque a las jack-ups de primera calidad.