Tor Olav Troim's Borr Drilling has expanded its rig fleet again with a $232.5m deal for Paragon Offshore.
It has agreed a deal to buy all the outstanding shares in the company and has received commitments to sell from holders of 67.9% of Paragon.
Paragon has a fleet of 32 drilling units, including two modern units of the leading JU-2000E design, the Prospector 1 and Prospector 5 built in 2013 and 2014, currently located in the North Sea.
