Borr Drilling's Prospector 5 Sinks Offshore Gabon; Five of 115 Crew Unaccounted For

Borr Drilling confirmed that its Prospector 5 drilling rig sank offshore Gabon at approximately 20:37 local time on October 24, 2026, during jacking operations ahead of a planned drilling campaign. Of the 115 personnel onboard, 110 were safely accounted for and five remain unaccounted for, with search and rescue operations ongoing, news.cision.com reported.

Borr Drilling Details the Prospector 5 Sinking

Preliminary information indicates the rig experienced a punch through event during preload activities, resulting in loss of stability and the subsequent sinking of the rig, according to the report. The Prospector 5 is owned and operated by Borr Drilling and is contracted to support BW Energy's drilling operations offshore Gabon.

Borr Drilling's onshore emergency response team has been activated, and the company said it is working with local authorities and BW Energy to respond to the incident, support those affected, and search for missing personnel. Bruno Morand, CEO of Borr Drilling, said: "We are deeply concerned for those who remain unaccounted for and everyone affected by this incident. Our immediate priority is supporting the ongoing search and rescue efforts and the welfare of all personnel involved."

BW Energy's second-quarter 2026 revenue rose to US$332.5m from US$184.7m, and net income to US$43.9m from US$26.7m, though net margin fell to 13.2%, Simply Wall St reported.

Borr Drilling's Fleet and Contract Coverage

Borr Drilling is a Bermuda-based offshore drilling contractor that owns and operates a fleet of 29 premium jackup rigs, providing dayrate-based shallow-water drilling services across the North Sea, Mexico, West Africa, Southeast Asia, and the Middle East, according to akta.pro company records. The same records show full-year 2026 contract coverage at 70%, with second-half 2026 coverage dropping to about 62%.

Borr Drilling's Recent Contracting Run

Borr Drilling announced new commitments for three jack-up rigs in September 2026, including a binding award for the Norve in West Africa with a 245-day firm scope and options, PR Newswire reported. Upstream Online reported that Borr Drilling secured additional work for its jack-up rig Idun on the Thang Long-Dong Do field offshore Vietnam in September 2026. The future of trading reported that Borr Drilling disclosed PDMR share transactions tied to its long-term incentive program in October 2026.

What Comes Next for Borr Drilling

Search and rescue operations for the five unaccounted personnel remain ongoing, according to the report. Family members seeking information or assistance may contact the team at +44 (0)1224 087026.