Borr has seven active jack-ups in Mexico, five of which are contracted to Pemex. Vaaler also said that Borr expects Pemex to go back to regular invoice payments now throughout the rest of 2025.

Adnoc Drilling has won two offshore jack-up rig deals worth a combined $1.15 billion for 15 years from compatriot Adnoc Offshore. The jack-up deals will bring in “accretive rates that generate ...