# Borr Drilling exits Mexican venture with majority stake sale

> Borr Drilling is selling its controlling stake in Perfomex to a local Mexican partner while keeping ownership of three jack-up rigs.
- Title: Borr Drilling exits Mexican venture with majority stake sale
- Summary: Borr Drilling is selling its controlling stake in Perfomex to a local Mexican partner while keeping ownership of three jack-up rigs. Borr is exiting its…
- Keywords: borr drilling, perfomex, mexico, jack-up rigs, pemex, stake sale, offshore drilling, joint venture, perforaciones estratégicas e integrales, galar rig, gersemi rig, njord rig
- Source: Yahoo Finance — https://finance.yahoo.com/energy/articles/borr-drilling-sell-51-stake-105246747.html
- Published: 2026-09-16T10:52:46+00:00
- Read time: 1 min
- Topics: borr drilling, perfomex, mexico, jack-up rigs, pemex, stake sale, offshore drilling, joint venture, perforaciones estratégicas e integrales, galar rig, gersemi rig, njord rig
## Borr exits Perfomex with majority stake sale
Borr Drilling has signed a deal to sell its 51% stake in Mexican well services joint venture Perfomex to local partner Perforaciones Estratégicas e Integrales Mexicana, fully exiting the investment.
## Three rigs stay with Borr after sale
After the sale, Borr will continue to own the Galar, Gersemi, and Njord jack-up rigs, which are currently operating for PEMEX, Mexico's state-owned petroleum company.
## Bareboat charter deals continue unchanged
Borr will remain involved through bareboat charter agreements with commercial terms expected to stay largely the same as current arrangements.
## Rig contracts extend through 2028 and 2030
The Galar and Gersemi rigs have contracts running until May 2030, while Njord is contracted through April 2028, both with extension options available.
## Sale completion expected this month
The transaction is scheduled for completion in September 2026, pending customary closing conditions, with a transition period to support the handover of operational duties.
## Part of Borr's broader Mexico expansion
This sale follows Borr's recent expansion through BC Ventures, a 50-50 joint venture that acquired five premium jack-up rigs from Fontis Finance for $287 million in 2026.
## Key takeaway

Borr is exiting its management role in Perfomex but staying financially involved through bareboat charter agreements on three rigs working for Mexico's state oil company.