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News coverage of Borr Drilling Limited typically focuses on contract awards, fleet deployment updates, operational performance metrics, and strategic developments affecting the offshore drilling industry. Media reports frequently highlight new drilling contracts secured by the company, including details about rig assignments, contract durations, geographic locations, and customer identities when publicly disclosed. These contract announcements provide insights into drilling activity levels across different regions and the competitive positioning of Borr Drilling's fleet in securing work from oil and gas operators.
Financial results announcements generate significant news attention, with analysts and industry observers examining revenue trends, utilization rates, day rates achieved, and profitability metrics. Quarterly earnings reports often reveal operational statistics such as technical utilization percentages, economic utilization figures, average day rates across the contracted fleet, and adjustments to financial guidance. These disclosures help stakeholders assess the company's operational efficiency and market conditions affecting the shallow-water drilling sector.
Fleet expansion activities, including acquisitions of additional rigs or sales of older units, receive coverage as strategic moves that reshape the company's competitive capabilities and market presence. News about rig upgrades, shipyard projects, and technical modifications provides information about capital allocation priorities and fleet modernization efforts. Industry publications track Borr Drilling's fleet status, noting which rigs are actively contracted, undergoing maintenance, or available for new assignments.
Broader industry trends affecting offshore drilling contractors also generate news context around Borr Drilling, including oil price movements, exploration budget announcements by major energy companies, regulatory changes in key markets, and technological developments in drilling operations. Market analysts often include Borr Drilling in sector-wide coverage examining supply-demand dynamics for jack-up rigs, regional activity levels, and competitive intensity among drilling contractors. Industry events such as conferences, investor presentations, and management commentary on market conditions provide additional news material reflecting the company's outlook and strategic priorities within the offshore energy services landscape.
Borr Drilling (NYSE: BORR) announced new firm contract commitments for two premium jack-up rigs.
The Ran received a one-well extension with ENI in Mexico with an anticipated duration of 75 days, keeping the rig on firm contract through March 2026; remaining options allow up to 240 additional days. The Odin secured a contract for two wells plus an optional well with an undisclosed U.S. operator; the campaign is expected to start mid-2026 with ~60 days per well. Odin's new firm commitment activated an option giving customer Cantium a six-month optional period commencing January 2027.
Borr Drilling (NYSE: BORR) announced the settlement of a public offering of 21 million common shares at $4.00 per share for total gross proceeds of $84 million.
The company said it will use these proceeds, together with a priced debt offering announced Dec 9, 2025, seller financing and, if necessary, available cash, to acquire five premium jack-up rigs announced Dec 8, 2025 and for general corporate purposes, including possible debt service, capital expenditures, working capital and potential M&A.
Underwriters included DNB Carnegie and Clarksons Securities as joint global coordinators and bookrunners.
Borr Drilling (NYSE: BORR) announced that subsidiaries priced an offering of additional 10.375% senior secured notes due 2030 for gross proceeds of approximately $165 million on Dec 9, 2025.
The Additional Notes match the terms of existing 2030 secured notes. The company expects settlement on or about December 19, 2025, subject to customary closing conditions.
Proceeds, together with a previously announced equity offering, seller financing and available cash if needed, are planned to fund the acquisition of five premium jack-up rigs (announced Dec 8, 2025) and for general corporate purposes including debt service, capex, working capital and potential M&A.
Borr Drilling (NYSE: BORR) priced a public offering of 21 million common shares at $4.00 per share for total gross proceeds of $84 million.
The company said proceeds, together with a concurrent debt offering, seller financing and available cash if needed, will be used for the potential acquisition of five premium jack-up rigs and for general corporate purposes including debt service, capital expenditures and working capital.
Delivery of shares is expected on or around Dec 10, 2025. The company also expects to begin trading on Euronext Growth Oslo on Dec 19, 2025 as a step toward re-listing on the Oslo Stock Exchange, resulting in an expected dual listing with the NYSE remaining the primary listing.
Borr Drilling (NYSE:BORR) announced an equity offering of 21 million common shares to raise approximately $85 million in gross proceeds. The company intends to use proceeds, together with debt financing, seller financing and available cash, to pursue the potential acquisition of five premium jack-up rigs and for general corporate purposes including debt service, capex and working capital.
Pricing is expected on or around Dec 9, 2025 with delivery the first trading day after pricing. Two directors indicated they each intend to subscribe $10 million through associated companies. The company has started listing its shares on Euronext Growth Oslo, expected to begin trading on Dec 19, 2025, with plans for a dual listing while keeping the NYSE as the primary market.
Borr Drilling (NYSE: BORR) agreed to acquire five premium jack-up rigs from Noble Corporation for a total purchase price of $360 million, increasing its fleet from 24 to 29 rigs.
Transaction financing: $150m new 10.375% senior secured notes due 2030, $150m seller's credit due 2032, and an $85m equity raise. Two rigs will be bareboat-chartered back to the seller for 12 months; those two will be placed in the notes' restricted group. The rigs are expected to generate $29m total earnings before debt service. Closing is expected in Q1 2026, subject to customary conditions. The company also initiated a process to list on Euronext Growth Oslo as a step toward re-listing on the Oslo Stock Exchange.
Noble Corporation (NYSE: NE) signed definitive agreements to sell six jackups: five rigs to Borr Drilling (NYSE: BORR) for $360 million and one rig to Ocean Oilfield Drilling for $64 million in cash. Closings are subject to customary conditions, with the Borr deal expected in early 2026 (subject to Borr financing) and the Ocean sale expected in Q2 2026 after completion of the Noble Resolve contract.
The Borr transaction includes $210 million cash and $150 million in seller notes (6-year maturity, secured by a first lien on three jackups). Noble will operate two rigs under a one-year bareboat charter and will become a pureplay deepwater and ultra-harsh jackup operator.
Borr Drilling (NYSE: BORR) reported unaudited results for the nine months ended Sept 30, 2025: total operating revenues $277.1M (+4% vs Q2 2025), net income $27.8M (-21% vs Q2), and Adjusted EBITDA $135.6M (+2% vs Q2) with a 48.9% margin. Year-to-date awards include 22 contract commitments covering >4,820 days and ~$625M potential revenue. Collections resumed in Sept-Oct with ~$19M received. Post-quarter, three Mexico contract extensions and new awards in the Gulf of America and Angola were announced. 2026 coverage stands at 62% with an average dayrate of $140,000. Full-year 2025 Adjusted EBITDA guidance: $455M–$470M.
Borr Drilling (NYSE: BORR) announced contract extensions for three premium jack-up rigs and reported recent collections from Mexico. Galar and Gersemi received two-year firm extensions commencing in direct continuation of existing Mexico contracts, each with two one-year unpriced options and improved commercial and payment terms. Njord was extended through April 2026. The stated contract value of the extensions is approximately $213 million (excluding options). The company also received approximately $19 million in payments from Pemex and said discussions continue on longer-term extensions for contracts expiring in Q2 2026.
Borr Drilling (NYSE:BORR) announced termination of two drilling contracts after implementation of international sanctions affecting a counterparty. The terminations concern rigs Odin and Hild, which had firm commitments through November 2025 and March 2026, respectively. The company said it remains committed to complying with international laws and sanctions frameworks and to high standards of corporate governance and compliance.
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