Borr Drilling's customers shorten contracts costing millions

Customers return rigs to Borr Drilling ahead of schedule due to the coronavirus pandemic. The early returns cost the drilling company millions in lost revenue.

Photo: PR/Transocean

Borr Drilling has five rigs returning earlier than expected, the drilling company informs after several customers have chosen to terminate contracts ahead of schedule.

The canceled contracts are largely a consequence of the coronavirus outbreak, which is making it impossible for some of Borr Drilling's customers to continue safe operations under the current circumstances. Borr Drilling emphasizes in a press release that the safety of rig workers is the primary focus.

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