Aug 2026
Conyers advised Borr Drilling Limited (“Borr Drilling”) and Proyectos Globales de Energía y Servicios CME, S.A. de C.V. in connection with the US$287 million acquisition by BC Ventures Limited, their Bermuda-incorporated 50/50 joint venture, of five premium jack-up rigs from Fontis Finance Ltd., the Singaporean rig-owning entities.
The acquisition comprised two Friede & Goldman JU-2000E design rigs, Oberon and Titania FE, and three LeTourneau Super 116-C design rigs, Courageous, Defender and Intrepid. The rigs are currently located in Mexico.
The acquisition was financed through a US$237 million non-recourse seller’s credit and cash contributions of US$25 million from each joint-venture shareholder. The transaction increased Borr Drilling’s owned and jointly owned fleet to 34 rigs and expanded its presence in the Mexican shallow-water market.
Director Marcello Ausenda, Associates Matthew MacLeod and Nazari Woods of Conyers’ Bermuda office advised on the matter.