Borr Drilling Ltd.

Borr Drilling Ltd. and is pleased to announce the appointment of Mr. Magnus Vaaler as its new Chief Financial Officer, replacing Mr. Christoph Bausch with effect from 28 December 2020. Patrick Schorn, Chief Executive Officer, commented: "I am pleased to announce Magnus as the new Chief Financial Officer of Borr Drilling. Magnus has been with the company since 2018 and has taken increasing responsibility in our finance [...]

As stated in its Q3 report, Borr Drilling has been working actively with its creditors to strengthen the liquidity profile of the Company. With considerable support of all secured creditors a liquidity improvement plan amounting to $925 million over the next two years has been devised. Subject to the Company successfully raising USD40m in new equity, the lenders are supportive of the following outcome, subject to final [...]

Borr Drilling Ltd. announces unaudited results for the three and nine months ended September 30, 2020. Highlights in the Third Quarter of 2020 Total operating revenues of $59.2 million, net loss of $61.9 million and Adjusted EBITDA of $ million for the third quarter of 2020. The combined Adjusted EBITDA of the four separate Mexican JVs that the Company has ownership in was $45.2 million in the third quarter of 2020 [...]

Reference is made to Borr Drilling Ltd.'s stock exchange releases related to the subsequent offering of 10,000,000 new shares on the Oslo Stock Exchange , each at a subscription price at USD 0.53 per Offer Share. The Subsequent Offering was settled Friday 27 November 2020, and the Company's issued share capital has been increased by USD 500,000 to USD 11,015,935.20, divided into 220,318,704 common shares with a nominal [...]

Reference is made to Borr Drilling Ltd. stock exchange notices in September 2020 relating to a contemplated subsequent offering in Borr. The board of directors of Borr has today resolved to launch a conditional subsequent offering consisting of up to 10,000,000 new shares . The Offer Shares will be listed on Oslo Børs upon delivery. The subscription price in the Subsequent Offering is US$0.53 per Offer Share which equals [...]

Borr Drilling Ltd. advises that a Special General Meeting of the Company was held on November 11, 2020 at 09:30 AST at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda The following resolution was passed: To approve the increase of the Company's authorized share capital from US$11,182,692.30 divided into 223,653,846 common shares of US$0.05 par value each to US$11,932,692.30 divided into [...]

Borr Drilling Ltd. has entered into an agreement to sell its cold stacked jack-up drilling rig "Atla" to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig "Eir", which has been completed in October, the Company will record total cash proceeds of USD 13 million. With the sale of these jack-ups, Borr [...]

Borr Drilling Ltd. advises that the Company will hold a Special General Meeting on November 11, 2020. The Board of Directors has fixed the close of business on October 23, 2020 as the record date for determination of the shareholders entitled to attend and vote at the Special General Meeting or any adjournment thereof. A copy of the Notice of Special General Meeting and Form of Proxy and associated information can be [...]

Borr Drilling Ltd. is pleased to announce the appointment of Christoph Bausch as its new Chief Financial Officer, replacing Mr. Francis Millet with effect from 1 November 2020. Patrick Schorn, Chief Executive Officer, commented: "I am pleased to announce Christoph as the new Chief Financial Officer of Borr Drilling. Christoph has been Chief Financial Officer of NYSE and OSE listed oilfield service companies for many years [...]

HAMILTON, Bermuda, Oct. 2, 2020 /PRNewswire/ -- Borr Drilling Ltd. is pleased to confirm the commencement of three previously announced contracts in Malaysia for the premium Jack Up drilling rigs Gunnlod and Saga with PTTEP and Mist with Roc Oil. The units started work during September in line with the original schedule. With the added complexity of COVID-19, our operational team, with support of our partners in Asia, has [...]