Borr Drilling has made a $1.3bn swoop for nine jack-up rings from Singapore's Sembcorp Marine with founder Tor Olav Troim dipping in to his own pocket to support the deal.
The purchase is to be funded partly with a $650m equity raise, which was completed on Monday and saw Schlumberger further its involvement with the firm.
Six of the rigs involved in the swoop are already completed ,with the first to be delivered in the fourth quarter.
