Borr Drilling Ltd

BORR

Equity

ISIN BMG1466R1732 / Valor 115361029

Oslo Stock Exchange (2025-10-17)

NOK 25.98-0.13%

Borr Drilling Ltd
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About company

Borr Drilling Ltd is an international drilling contractor founded in Bermuda in 2016 and listed on the Oslo Stock Exchange and New York Stock Exchange. The company specializes in owning and operating modern and high-specification jack-up rigs, providing drilling services to the oil and gas industry globally in water depths up to approximately 400 feet. Borr Drilling currently operates a fleet of modern jack-up drilling rigs from various yards and is known as one of the largest premium jack-up companies worldwide with the youngest fleet. The company's Chairman, Tor Olav Trøim, has over 30 years of experience in energy-related industries and has held various executive positions in affiliated companies.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Growth

Total operating revenues reached $267.7 million in Q2 2025, marking a 24% increase of $51.1 million compared to Q1 2025. This growth was driven by a substantial rise in dayrate revenue, bareboat charter revenue, and management contract revenue.

Profitability Improvement

Net income surged to $35.1 million in the second quarter, reversing a net loss of $16.9 million in Q1 2025. Adjusted EBITDA also saw a significant increase of 39%, reaching $133.2 million, highlighting enhanced operational efficiency and profitability.

New Contract Commitments

YTD 2025, Borr Drilling Ltd secured 14 new contract commitments, amounting to approximately 2,584 days and $318 million in potential revenue. These contracts improve the company's coverage to 84% for 2025 and 47% for 2026, ensuring robust future revenue streams.

Financial Strengthening

In July 2025, the company bolstered its liquidity by over $200 million through a $102.5 million equity offering and additional commitments from commercial banks. This initiative enhances available funds under revolving credit facilities and improves financial covenant terms.

Leadership Changes

Borr Drilling Ltd appointed Bruno Morand as CEO effective September 1, 2025, while Patrick Schorn transitioned to Executive Chair of the Board of Directors. This leadership change is expected to support the company's strategic growth and operational excellence.

Summarized from source with an LLMView Source

Key figures

-53.5%1Y

-31.8%3Y

214%5Y

Performance

70.5%1Y

55.5%3Y

76.3%5Y

Volatility