Borr Drilling Ltd. is pleased to announce that the Company has entered into a new financing arrangement for the newbuild jack-up rig Tivar, scheduled to be delivered from the yard in July 2020. The existing US$50 million bank delivery financing for the rig will be replaced with a new US$100 million take out facility maturing in December 31, 2021. As part of the agreement the delivery of the jack up rigs Vale and Var are [...]
Borr Drilling Ltd. is pleased to announce it has agreed with its financing banks to make certain amendments to its financial covenants. The required minimum book equity ratio has been adjusted from 40% to 33.3% and the minimum free liquidity covenant adjusted from 4.0% to 3.0% of Net Interest Bearing Debt. These amendments are effective from year end 2019 and into 2021. The Company continues to be in constructive [...]
Borr Drilling Ltd. today announced the appointment of Mr. Neil Glass as a new director of the Board. Mr. Glass graduated from the University of Alberta in 1983 with a degree in Business. He is a member of both the Chartered Professional Accountants of Bermuda and of Alberta, Canada, and is a Chartered Director and Fellow of the Institute of Directors. Mr. Glass worked for Ernst & Young for eleven years: seven years with [...]
Please find enclosed the presentation of Borr Drilling Ltd.'s third quarter 2019 results to be held on the webcast / conference call 26 November 2019 at 3:00PM CET/9:00 AM New York). This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This information was brought to you by Cision http://news.cision.com [...]
Hamilton, Bermuda, November 26, 2019: Borr Drilling Ltd. announces unaudited results for the three and nine months ending September 30, 2019. The Chairman of the Board, Paal Kibsgaard, commented: "The jack-up market tightened further in the third quarter, with strong tendering activity, improving dayrates and a strengthening market outlook for 2020. We continued to execute well throughout our rig operations, as well as on [...]
Borr Drilling Ltd. will release its financial results for the third quarter 2019 on Tuesday, November 26, 2019. The time of the release will be at 1:00 PM CET / 7:00 AM New York Time in order to accommodate the Company's US shareholders. A conference call and webcast will be held at 3:00 PM CET . The earnings report and presentation will be available from the Investor Relations section on www.borrdrilling.com. In order [...]
Borr Drilling Ltd. has issued an updated fleet status report, available on the Company's website and attached to this release. The report includes news about five new contracts and extensions since the previous fleet status report in August 2019, comprising two newbuilds, one warm stacked rig and extensions of two active rigs. This is expected to add approximately 55 months and approximately USD 151 million of additional [...]
The Board of Borr Drilling Ltd. is pleased to announce that Pål Kibsgaard has been formally appointed as the new Chairman of the Board in a board meeting of the Company. Mr Kibsgaard will replace Tor Olav Trøim as Chairman, who will continue to serve as a Director and has been appointed as Deputy Chairman. As previously announced, Mr. Kibsgaard was elected as a director of the company at the Company's AGM on [...]
Borr Drilling Ltd. announces unaudited results for the three and six months ended June 30, 2019 Highlights in the second quarter 2019 Operating revenues of $86.6 million, net loss of $103.2 million and Adjusted EBITDA of negative $4.9 million for the second quarter of 2019 The results include a $31.5 million mark to market loss related to forward contracts the Company acquired in Rowan/Ensco in 2018. The share price of [...]
The Board of Borr Drilling has based on the unanimous decision from the nomination committee, decided to recommend Paal Kibsgaard as new Chairman of the Board of Borr Drilling. The election will take place at the annual general meeting to be held on September 27, 2019. Mr. Kibsgaard has through his 27 years of experience, a deep knowledge of the oil and gas industry. He has held a variety of global senior management [...]
A copy of the Notice of Annual General Meeting and Form of Proxy, and associated information including the Company's Annual Report can be found on the Company's website at http://www.borrdrilling.com and attached to this press release. The notice and associated information will also be distributed to shareholders by normal distribution methods. Hamilton, Bermuda 22 August 2019 This information is subject to the disclosure [...]
Borr Drilling Ltd. advises that the 2019 Annual General Meeting of the company will be held on September 27, 2019. The record date for voting at the Annual General Meeting is set to August 20, 2019. The notice, agenda and associated material will be distributed prior to the meeting. August 13, 2019 Media Contact: Svend Anton Maier, Chief Executive Officer Borr Drilling Management +47-41427129 Rune Magnus Lundetræ [...]
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