Energy Markets

Hamilton, Bermuda – – September 30, 2026 -- Borr Drilling Limited (NYSE: BORR, OSE: BORR) has locked in new commitments for three premium jack-up rigs, extending contract coverage across West Africa and the North Sea into mid-2027.

Norve wins 245-day firm scope off West Africa

An undisclosed operator issued a binding letter of award for the Norve, covering a firm scope of three wells over an estimated 245 days. The contract is set to start mid-December 2026, keeping the rig committed into August 2027, with priced options adding a further 175 days of potential work.

Shell exercises option on Natt in Nigeria

Shell Nigeria Exploration and Production Company has exercised a one-well option on the Natt. Based on the current well program, the rig is expected to remain under contract with Shell into early August 2027.

Houston – September 16, 2026 -- Shell Energy North America (US), L.P. (SENA), a subsidiary of Shell plc, has agreed to sell its interests in RISEC Holdings, LLC to Constellation Energy Generation, LLC for $715 million while simultaneously acquiring 100% equity in Hunlock Creek Generating LLC, a 169-megawatt gas-fired generation asset in Pennsylvania.

Shell exits New England plant to lock in accelerated gains

RISEC owns a 609-MW, two-unit combined cycle gas turbine power plant serving the New England power market. SENA has held an energy conversion agreement for the plant's full electricity output since 2019, an arrangement that will terminate once the Constellation sale closes. The company said the transaction brings forward returns it had expected to realize through longer-term ownership, delivering a significant gain on the sale.