Borr Drilling Limited announced that its 'Odin' rig received a notice of a 30-day temporary suspension from PEMEX. This suspension became effective in early June 2025.
The temporary halt in operations for the 'Odin' rig will impact its utilization and revenue generation during this period. Such suspensions can lead to short-term reductions in the company's active fleet capacity.
Following this suspension, Borr Drilling explored alternative deployment options and secured a Letter of Intent from an independent oil company in Mexico for a 60-day accommodation program, expected to commence in July. This agreement includes priced options for drilling works that could keep the rig contracted through Q2 2026.
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