On July 29, offshore drilling rig operator Borr Drilling announced via its official website that it had completed the previously announced acquisition of five high-end jack-up drilling rigs from Fontis Finance through BC Ventures, for a total purchase price of $287 million.
BC Ventures is a 50/50 joint venture newly established by Borr Drilling and a subsidiary of Proyectos Globales de Energía y Servicios CME—its long-standing downhole services partner in Mexico.
The transaction, for which a definitive agreement was signed in March 2026, has met customary closing conditions, received antitrust approval, and was officially completed on July 29.
According to the transaction terms, BC Ventures has acquired two Friede & Goldman JU-2000E drilling rigs, named “Titania FE” and “Oberon”, and three LeTourneau Super 116-C drilling rigs, named “Intrepid”, “Defender”, and “Courageous”. All five drilling rigs are currently located in Mexico.
With the completion of the acquisition, Borr Drilling’s total fleet of wholly-owned and joint-venture jack-up rigs has risen to 34. This expansion strengthens its footprint in the Mexican shallow-water market and enhances its ability to meet the growing demand—both regionally and internationally—for safe, reliable, and diversified energy solutions.
For the seller, Paratus Energy, the transaction leaves it with no remaining jack-up rigs; following the deal, its assets are limited to six offshore support vessels held through a joint venture with Vantris Energy.
According to its official website, Borr Drilling is an international drilling contractor incorporated in Bermuda in 2016. It has been listed on the New York Stock Exchange since July 31, 2019, and on the Euronext Growth Oslo exchange since December 19, 2025, under the ticker symbol “BORR”. The company owns and operates a fleet of advanced, high-specification jack-up rigs, primarily providing shallow-water drilling services to the global offshore oil and gas industry.