Dolphin Drilling announces that an undisclosed party has signed a letter of intent for a contract for the rig Borgland Dolphin.

The potential contract would be expected to have a value of approximately USD 58 million. The scheduled commencement would take place in the second half of 2026, and include payments for preparation for operation, mobilisation and demobilisation. Discussions between the parties are still ongoing and there can be no certainty as to whether the potential contract will be entered into. The award of the contract is subject to the terms and conditions of the contract (i) having been mutually agreed between the counterparty and the Company, and (ii) the counterparty having received all necessary approvals, including partner acceptances.

As a consequence of the above and in order to comply with regulatory requirements in connection with the ongoing subsequent repair offering, the Company will as soon as practicably possible publish a prospectus supplement (subject to approval by the Financial Supervisory Authority of Norway) to the prospectus dated 25 August 2025.  

Borgland Dolphin, is capable of operating at a maximum water depth of 450m and boasts decades of North Sea drilling activities.

Originally entering service in 1977, the Borgland Dolphin underwent major upgrades in 1999.

With an enhanced Aker H-3 design, some of its features include best-in-class carbon efficiency, positive airgap and an 8-point mooring system.