As Upstreamonline first reported and we discussed last week, Norwegian startup Borr Drilling has been sniffing around Transocean’s jackup fleet.
On Monday, Borr Drilling put out a press release confirming the reports. The company says it has signed an LOI with Transocean for the purchase of 15 jackups.
Transocean has not released any official statements on the deal, leaving it up to the newcomer to announce the news to the market.
Some may view this sale as a negative for Transocean. We disagree and explain why in this update.
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