Canadian independent Valeura Energy has awarded Borr Drilling a nine-month extension worth some $41 million for its premium jack-up Mist to continue operations offshore Thailand.
Bermuda-domiciled Borr on Friday confirmed that Mist’s contract extension covers a firm term of nine months in direct continuation of its existing charter. The jack-up will now be on contract through at least August 2024.
The estimated total contract value of the rig’s extension is $41 million, excluding unpriced options.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.