Borr Drilling joint venture BC Ventures completes USD 287 million acquisition of five jack-up rigs in Mexico

Reuters2026/07/29 05:05

By:Reuters

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Borr Drilling entered a 50/50 joint venture, BC Ventures, with its long-term well construction partner in Mexico.
The venture completed the acquisition of five premium jack-up rigs from Fontis Finance for USD 287 million.
Funding included a USD 237 million non-recourse seller’s credit maturing January 2029, secured by a first-priority lien on the rigs.
Each partner contributed USD 25 million in cash, taking the combined owned and jointly owned fleet to 34 rigs.
The deal expands exposure to Mexico’s shallow-water market, targeting rising demand for secure energy supply.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Borr Drilling Ltd. published the original content used to generate this news brief on July 29, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Borr Drilling joint venture BC Ventures completes USD 287 million acquisition of five jack-up rigs in Mexico

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