Borr Drilling Ltd

Borr Drilling Ltd. engages in the provision of offshore drilling services to the oil and gas industry. It operates through Dayrate; and Integrated Well Services (IWS) segments. The Dayrate segment consists of rig charters and ancillary services. The IWS segment provides integrated well services through Opex and Akal. The company was founded by Tor Olav Trøim on August 8, 2016 and is headquartered in Hamilton, Bermuda.

Earnings data Q4 2020

Earnings data Q1 2021

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Earnings data Q3 2021

Earnings data Q4 2021

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Earnings data Q3 2022

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Earnings data Q4 2023

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Earnings data Q3 2024

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Borr Drilling Limited's (BORR) CEO Patrick Schorn on Q4 2021 Results - Earnings Call Transcript

OSLO, Norway, Feb. 16, 2022 /PRNewswire/ -- Please find enclosed the presentation of Borr Drilling Limited's fourth quarter 2021 results to be held on the webcast/conference call at 15:00 CET (9:00 AM New York time) on February 16, 2022. Please note corrected timing above from initial invitation.

Borr Drilling Limited - Q4 2021 Presentation

HAMILTON, Bermuda, Feb. 16, 2022 /PRNewswire/ -- Borr Drilling Limited ("Borr", "Borr Drilling" or the "Company") announces preliminary unaudited results for the three and twelve months ended December 31, 2021. Highlights Fourth Quarter of 2021  Total operating revenues of $69.1 million, a decrease of $3.9 million (5%) compared to the third quarter of 2021  Net loss of $46.1 million, an increase of $13.5 million compared to the loss in the third quarter of 2021  Cash and cash equivalents of $34.9 million and restricted cash of $11.1 million at the end of the fourth quarter of 2021, a decrease of $22.9 million from the end of the third quarter of 2021  Adjusted EBITDA of $25.0 million, an increase of $5.0 million (25%) compared to the third quarter of 2021  Agreement with shipyards to defer $1.4 billion of debt and instalments from 2023 to 2025 subject to certain conditions Subsequent events Completed $30 million equity raise in January 2022 at a price of $2.25 per share       Secured a new contract for "Prospector 5" increasing the contracted and committed fleet to 18 rigs Converted the previously announced LOA/LOIs for the rigs "Norve" and "Gerd" into contracts Tor Olav Trøim appointed Chairman of the Board, replacing Pål Kibsgaard who remains a Director CEO, Patrick Schorn commented: "The current oil price in combination with a tighter oil supply/demand balance is further improving the market for shallow water offshore drilling.

Borr Drilling Limited Announces Preliminary Results for the Fourth Quarter of 2021

OSLO, Norway, Feb. 10, 2022 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) and OSE: BORR) plans to release its financial results for the fourth quarter 2021 on Wednesday, 16 February, 2022. A conference call and webcast is scheduled for 14:00 CET (9:00 AM New York Time).

Borr Drilling Limited - Invitation to webcast and conference call Q4 2021 results

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HAMILTON, Bermuda, Jan. 28, 2022 /PRNewswire/ -- Reference is made to Borr Drilling Limited's (the "Company") (NYSE and OSE: "BORR") announcement 28 December 2021 relating to the subscription and allocation of a total of 13,333,333 new depository receipts (the "Offer Shares"), at a price of $2.25, raising gross proceeds of $30 million (the "Equity Offering") related to refinancing and deferring a combined $1.4 billion debt maturities and delivery instalments from 2023 to 2025 with its shipyards. The Company has today met all the remaining conditions listed in its announcement on 28 December 2021 for the Equity Offering.

Borr Drilling Limited - Conditions for equity raise completed

HAMILTON, Bermuda, Jan. 26, 2022 /PRNewswire/ -- Reference is made to Borr Drilling Limited's (the "Company") (NYSE and OSE: "BORR") announcement 28 December 2021 relating to the subscription and allocation of a total of 13,333,333 new depository receipts (the "Offer Shares"), raising gross proceeds of USD 30 million (the "Equity Offering"). A condition for completion of the Equity Offering was obtaining such approvals and waivers deemed necessary and appropriate from the Company's other creditors, including Hayfin and DNB Bank ASA and the other lenders in the Senior Secured Facilities (the "Facilities") to enter into the amendment agreements with the yards for deferral of debt maturities and delivery instalments from 2023 to 2025.

Borr Drilling Limited - Receives creditor consent for extension of yard debt maturities and deliveries

Borr announces a deal to defer $1.4 billion of debt maturities and yard installments. Such a deal was long-awaited by investors, and the stock rallied in response to the news.

Borr's Outlook Gets More Constructive After Debt Deal

OSLO, Norway, Dec. 27, 2021 /PRNewswire/ -- Borr Drilling Limited (the "Company") (NYSE and OSE: BORR) is pleased to announce that it has reached agreements in principle with its largest creditors, the Singaporean yards, to refinance and defer a combined $1.4 billion debt maturities and delivery instalments from 2023 to 2025. This is a major step forward in the Company's previously announced target to address its debt maturities and commitments currently due in 2023.

Borr Drilling Limited announces agreement to defer $1.4 billion of debt maturities and yard instalments to 2025

OSLO, Norway, Dec. 17, 2021 /PRNewswire/ -- Borr Drilling Limited (NYSE and OSE: "BORR") is pleased to announce it has secured a contract for the premium jack-up drilling rig "Norve" with BW Energy for work in Gabon. The contract is expected to commence in the second half of 2022 after the completion of the rigs current contract.

Borr Drilling Limited - Announcement of contract and letter of award for jack-up drilling rigs

OSLO, Norway, Dec. 7, 2021 /PRNewswire/ -- Borr Drilling Limited (the "Company") refers to the announcement issued June 29, 2021 regarding the notice from the New York Stock Exchange ("NYSE") that the Company was not in compliance with the NYSE continued listing standard as the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days. Today, the Company announces that its Board of Directors has approved a 2-to-1 reverse share split of the Company's shares (the "Reverse Split") in order to cure this non-compliance.

Borr Drilling Limited - Reverse share split

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OSLO, Norway, Nov. 5, 2021 /PRNewswire/ -- Please find enclosed the presentation of Borr Drilling Limited's third quarter 2021 results to be held on the webcast/conference call at 14:00 CET (9:00 AM New York time) on November 5, 2021.  In order to listen to the presentation, you may do one of the following: a)    Webcast Please use the following link: www.incommuk.com/customers/online with access code: 286812 b)    Conference Call Dial in details, Participants: Conference ID: 286812 Norway, Oslo               81 503 308 United Kingdom           020 3936 2999 United States               1 646 664 1960 All other locations        +44 20 3936 2999 Participants will be asked for their full name & Conference ID.

Borr Drilling Limited - Q3 2021 Presentation

OSLO, Norway, Nov. 5, 2021 /PRNewswire/ -- Borr Drilling Limited ("Borr", "Borr Drilling" or the "Company") announces preliminary unaudited results for the three and nine months ended September 30, 2021. Highlights third quarter of 2021 Total operating revenues of $73.0 million, an increase of $18.2 million (33%) compared to the second quarter of 2021 Net loss of $32.6 million, an improvement of $27.3 million compared to the second quarter of 2021 Cash and cash equivalents at the end of the third quarter of 2021 was $68.9 million, an increase of $36.5 million from the end of the second quarter of 2021 Adjusted EBITDA of $20.0 million, an increase of $16.3 million (441%) compared to the second quarter of 2021 Awarded 32 new contracts, extensions, exercised options and LOA/LOIs year-to-date, representing 7,929 days and $668 million of potential backlog including contracts through its Drilling JVs and mobilization compensation Subsequent events Secured new LOAs for the rigs "Idun" and "Groa" and a contract for "Ran" amounting to a total of approximately 3.4 years of backlog and increasing the contracted and committed fleet to 17 rigs Converted the previously announced LOA/LOIs for the rigs "Mist", "Gunnlod" and "Gerd" into contracts CEO, Patrick Schorn commented: "We are pleased with the performance in the third quarter of 2021, marking a significant milestone in the operational turnaround efforts led by our teams around the world.

Borr Drilling Limited Announces Preliminary Results for the Third Quarter of 2021

OSLO, Norway, Nov. 2, 2021 /PRNewswire/ -- Borr Drilling Limited (NYSE and OSE: BORR) will release its financial results for the third quarter 2021 on Friday, November 5, 2021. A conference call and webcast will be held at 14:00 CET (9:00 AM New York Time).

Borr Drilling Limited - Invitation to webcast and conference call Q3 2021 results

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The stock price of Borr Drilling Ltd (NYSE: BORR) increased by over 7% during intraday trading. This is why it happened.

BORR Stock: Over 7% Increase Explanation

OSLO, Norway, Sept. 2, 2021 /PRNewswire/ -- Borr Drilling Limited (NYSE and OSE: "BORR") is pleased to announce it has secured a Letter of Award ("LOA") for the premium jack-up drilling rig "Mist" from an undisclosed operator in Southeast Asia.

Borr Drilling Limited - Announcement of Letter of Award for jack-up drilling rig

News for Borr Drilling Ltd Stock (BORR)