BORR DRILLING LTD Stock Price, News & Analysis

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.

Borr Drilling (NYSE: BORR) will release its Q3 2025 financial results after NYSE close on Wednesday, 5 November 2025. A live webcast and conference call are scheduled for 10:00 AM New York time (16:00 CET) on Thursday, 6 November 2025. Participants are asked to join 10 minutes early.

The earnings report, webcast and presentation will be posted on the company's Investor Relations website at www.borrdrilling.com. Live access is via the provided webcast link or by registering for the conference call to receive dial‑in details and a unique PIN. A replay of the webcast will be available after the live call.

Borr Drilling Limited (NYSE: BORR), a drilling services company, announced that CEO Bruno Morand will present at the Pareto Securities' 32nd annual Energy Conference on September 10, 2025, in Oslo, Norway.

The presentation materials are available on the company's website at www.borrdrilling.com. Interested parties can direct questions to CFO Magnus Vaaler.

Borr Drilling Limited (NYSE: BORR) has secured new contract commitments for two of its premium jack-up rigs. The Prospector 1 received Letters of Award from Dana Petroleum (30-day contract) and ONE-Dyas (210-day contract) in the Netherlands, with the latter including options for an additional 210 days. The Natt rig secured a 60-day contract with New Age in Congo.

These new commitments total 300 days and represent over $43 million in contract revenue backlog, excluding options and other compensation. Additionally, the previously announced LOA for the "Odin" rig in Mexico has been converted into a contract and operations have commenced.

Borr Drilling (NYSE: BORR) reported strong Q2 2025 results with total operating revenues of $267.7 million, up 24% quarter-over-quarter. The company achieved a net income of $35.1 million, marking a significant improvement from Q1's net loss, while Adjusted EBITDA increased 39% to $133.2 million.

The company demonstrated robust operational performance with 99.6% technical utilization and 22 out of 24 rigs active. In July 2025, Borr strengthened its financial position through a $102.5 million equity offering and secured bank commitments, increasing liquidity by over $200 million. The company also announced Bruno Morand as the new CEO effective September 1, 2025, with current CEO Patrick Schorn transitioning to Executive Chair.

Year-to-date, Borr secured 14 new contracts worth approximately $318 million, achieving 84% contract coverage for 2025 at an average day rate of $145,000.

Borr Drilling Limited (NYSE: BORR) held its Special General Meeting (SGM) on August 6, 2025, where shareholders approved three key resolutions. The company set a maximum limit of eight Directors on its Board, elected Mr. Thiago Mordehachvili as a new Director, and approved an increase in authorized share capital from $31.5 million to $36.5 million.

The capital increase authorizes an additional 50 million common shares at $0.10 par value each, expanding the total authorized shares from 315 million to 365 million.

Borr Drilling (NYSE:BORR) has scheduled the release of its Q2 2025 financial results after the NYSE market close on Wednesday, August 13, 2025. The company will host a conference call and webcast to discuss the results on Thursday, August 14, 2025, at 9:00 AM ET.

Participants can access the presentation through a webcast link or by registering for the conference call. A replay stream will be available after the event. The earnings report and presentation materials will be accessible through the Investor Relations section of Borr Drilling's website.

Borr Drilling (NYSE: BORR) has announced the pricing of its public offering of 50 million common shares at $2.05 per share, aiming to raise total gross proceeds of $102.5 million. The offering will be executed in two settlements: 30 million shares around July 7, 2025, and 20 million shares around August 7, 2025, subject to shareholder approval at a special general meeting.

The company intends to use the proceeds for general corporate purposes, including debt service, capital expenditures, and working capital funding. The offering is being conducted through joint bookrunners DNB Carnegie, Clarksons Securities, Citigroup, and Goldman Sachs & Co. LLC, pursuant to an effective shelf registration statement filed with the SEC.

Borr Drilling (NYSE:BORR) has announced a comprehensive financial strengthening package and leadership transition plan. The company has secured commitments to increase its liquidity by over $200 million, including an expanded $200 million super senior RCF, reallocation of a $45 million Guarantee Facility, and a new $35 million senior secured RCF, subject to a $100 million equity raise.

In a major leadership change, Bruno Morand will succeed Patrick Schorn as CEO effective September 1, 2025. Schorn will transition to Executive Chairman, while current Chairman Tor Olav Trøim will remain as Director. The company also plans to nominate Thiago Mordehachvili, representing a 19% shareholding through Granular Capital Ltd., to the Board following a Special General Meeting on August 6, 2025.