Borr Drilling Ltd Price, Forecast, Insider, Ratings, Fundamentals & Signals

Hamilton, bermuda , april 9, 2024 /prnewswire/ -- borr drilling limited (the "company") (nyse: borr) (ose: borr) is pleased to announce new contract commitments for three of its premium jack-up rigs, the "prospector 1", the "gunnlod", and a rig to be determined.  the commitments total 820 days and $158.6 million in contract revenue, inclusive of mobilization and demobilization compensation.

Hamilton, bermuda , april 4, 2024 /prnewswire/ -- borr drilling limited (the "company") (nyse: borr) (ose: borr) has today received a notice of temporary suspension of operations for its rig "arabia i", operating in saudi arabia. the temporary suspension will be for a period of up to 12 months, and is expected to commence in the second quarter.

Hamilton, bermuda , march 6, 2024 /prnewswire/ -- drew holdings ltd., a close associate of mr.

Hamilton, bermuda , feb. 27, 2024 /prnewswire/ -- borr drilling limited (the "company") (nyse and ose: borr) announced today that its wholly-owned subsidiary borr ihc limited has priced an offering of an additional $200 million in aggregate principal amount of 10.000% senior secured notes due 2028 (the "additional notes"). the additional notes will have the same terms and conditions as the $1,025,000,000 aggregate principal amount of senior secured notes due 2028, which were issued on november 7, 2023 (the "original 2028 notes").

Hamilton, bermuda , feb. 22, 2024 /prnewswire/ -- please find enclosed the presentation of borr drilling limited's fourth quarter 2023 results to be held on the webcast/conference call at 15:00 cet (9:00 am new york time) on february 22, 2024.  in order to listen to the presentation, you may do one of the following: a)  webcast to access the webcast, please go to the following link: https://edge.media-server.com/mmc/p/3eaywjys b)   conference call please use this link to register for the conference call, https://register.vevent.com/register/bia39b9c1337044c06a101dd1639ceb3ad participants will then receive dial-in details on screen and via email and can then choose to dial in with their unique pin or select "call me" and provide telephone details for the system to link them automatically.

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Borr Drilling benefits from strong demand for shallow-water drilling and a constrained supply of jackup rigs. The recent sell-off triggered by Saudi Aramco's announcement does not change the fundamentals of the jackup market. BORR's stable business model and increasing dayrates position it for significant earnings growth and potential high dividend yields in the future.

HAMILTON, Bermuda , Feb. 19, 2024 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) and (OSE: BORR) plans to release its financial results for the fourth quarter 2023 on Thursday, February 22, 2024. A conference call and webcast is scheduled for 15:00 CET (9:00 AM New York Time) and participants are encouraged to dial in 10 minutes before the start of the call.

With tightening of monetary policies, global GDP growth has decelerated. This has resulted in a correction for oil as demand has declined on a relative basis.

Borr Drilling is a top choice for capitalizing on the current bull market in the shallow-water offshore sector. BORR has the youngest and most modern fleet among its peers, which puts it in the best position to outperform. Day rates still have a significant upside and may rise to $250k per day based on historical analogs, the status of the order book, and current utilization levels.

Last month, leading shallow water driller Borr Drilling reported Q3/2023 results in line with management's most recent projections and reaffirmed guidance for both 2023 and 2024. Despite the somewhat disappointing terms of the recent debt refinancing, the board of directors approved the initiation of a $0.05 quarterly cash dividend and a $100 million share repurchase program. The jackup market outlook remains strong with management projecting potential undersupply of modern rigs going into 2025. As a result, dayrates are likely to recover further.

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Borr Drilling completed a successful refinancing, pushing most of its maturities out to 2028-2030. The rating agencies have turned positive on the improving industry fundamentals, suggesting the debt will be less of a concern going forward. The leverage should now start working for the equity investors as modest improvements in EBITDA or the valuation multiples will have a big impact on the share price.