Borr Drilling hands operating control of three jackups to Mexican partner

AI Summary

Borr Drilling will divest its 51% equity in two Mexican subsidiaries to a local partner, transferring full ownership and operational control of its jackup rigs. This move concludes Borr's stake in Perfomex joint ventures in Mexico.

Offshore driller Borr Drilling has entered into definitive agreements to divest its 51% equity interest in two Mexican subsidiaries to a local partner. Upon completion of the transaction, Borr Drilling will have fully divested its stake in Perfomex JVs, and its local partner will become the sole owner of Perfomex and assume responsibility for managing …