Borr Drilling to expand rig fleet with USD 232.5 million acquisition

Tor Olav Trøim's Borr Drilling has announced the purchase of Paragon Offshore for USD 232.5 million. The acquisition includes 32 rigs, most of which are stacked.

Photo: Colourbox

Tor Olav Trøim's Borr Drilling will again expand its fleet with the purchase of 32 rigs, of which a majority are currently without contracts and could end up being scrapped.

The new rigs are included in a binding tender agreement offering to purchase the remaining shares in company Paragon Offshore Limited, says Borr in an announcement.

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