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Broker: Borr Drilling pays excessive price for rigs

The new rig company Borr Drilling has paid an excessive price of USD 1.3 billion for nine rigs, according to a Norwegian brokerage firm.

Photo: GDFSuez

New Oslo-listed rig company Borr Drilling may have paid an excessive price USD 1.3 billion for the company's recent acquisition of nine jack-up rigs, according to Norwegian broker Bassøe, reports media Dagens Næringsliv.

According to Bassøe, the rigs each have a market value between USD 85 and 96 million. If each rig has the same price, Borr Drilling has paid USD 50 million more per rig than their market value.

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