Borr Drilling Ltd 6-K, filed Oct 28, 2020
Borr Drilling Ltd (BORR)
6-K
2020-10-28
For: 2020-10-28
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April 10, 2026
About this 6-K
Borr Drilling Ltd filed this 6-K on October 28, 2020.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
October 28, 2020
Commission File Number 001-39007
Borr Drilling Limited
S. E. Pearman Building
2nd Floor 9 Par-la-Ville Road
Hamilton HM11
Bermuda
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F ☒ | Form 40-F ☐ |
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
| Yes ☐ | No ☒ |
If ‘‘Yes’’ is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
Exhibits
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Press Release
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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BORR DRILLING LIMITED
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Date: October 28, 2020
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By:
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/s/ Georgina Sousa
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Name:
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Georgina Sousa
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Title:
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Director
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Exhibit 99.1
Borr Drilling Limited – Sale of rigs
Borr Drilling Limited (the “Company”) (NYSE: “BORR”, OSE: “BDRILL”) has entered into an agreement to sell its cold stacked jack-up drilling rig “Atla” to an independent operator. The completion of the sale is expected
in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total cash proceeds of USD 13 million.
With the sale of these jack-ups, Borr Drilling continues to deliver on its fleet strategy of divesting inactive, cold stacked units and focus on the modern and highly efficient core fleet of premium jack-up rigs.
Following these rig sales, Borr Drilling will have 28 modern assets built after 2011, and one remaining older cold stacked rig, which is likely to be sold within the fourth quarter.
28 October 2020
Hamilton, Bermuda
Questions should be directed to:
Magnus Vaaler, VP Investor Relations and Treasury
+47 22 48 30 00
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Forward looking statements:
This press release includes forward looking statements, which do not reflect historical facts and may be identified by words such as “expected”, “likely” and “will” and similar expressions and include
statements relating to the completion of the sale of rigs, total cash proceeds and other non-historical matters. Such forward-looking statements are subject to risks, uncertainties and other factors could cause actual events to differ materially from
the expectations expressed or implied by the forward-looking statements included herein and other factors described in the section entitled “Risk Factors” in our regulatory filings and periodical reporting. These forward-looking statements are made
only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.