Borr Drilling announces $213M contracting extensions and $19M collections

Core Viewpoint - Borr Drilling (BORR) has secured contract extensions for three premium jack-up rigs, enhancing its revenue outlook and operational stability in Mexico [1] Group 1: Contract Extensions - The rigs Galar and Gersemi have each been awarded two-year firm contract extensions, starting immediately after their current contracts in Mexico [1] - The extensions for Galar and Gersemi include two one-year unpriced options and improved commercial and payment terms [1] - The rig Njord has received a contract extension through April 2026, further solidifying the company's operational timeline [1] Group 2: Financial Impact - The total contract value of the extensions is approximately $213 million, excluding options, indicating a significant revenue boost for the company [1] - Recent payments of approximately $19 million have been received for operations with Pemex, contributing positively to cash flow [1] Group 3: Future Prospects - The company is in active discussions with its customer in Mexico regarding long-term extensions for contracts that are set to expire in Q2 2026, suggesting potential for further revenue growth [1]