Borr Drilling Ltd. today announces that the Company's Board of Directors has approved a cash distribution of paid-in capital of US$0.02 per share for the fourth quarter of 2024 to shareholders of record on March 3, 2025. For the shares traded on NYSE, the ex-date is March 3, 2025, and payment date will be on or about March 19, 2025. For shareholders registered in Euronext VPS, the Norwegian Central Security Depository [...]
Borr Drilling Ltd. announces unaudited results for the three and twelve months ended December 31, 2024. Highlights Fourth Quarter 2024 total operating revenues of $263.1 million, an increase of $21.5 million or 9% compared to the third quarter of 2024 Fourth Quarter 2024 net income of $26.3 million, an increase of $16.6 million or 171% compared to the third quarter of 2024 Fourth Quarter 2024 Adjusted EBITDA of $136.7 [...]
Borr Drilling Ltd. is pleased to announce that it has agreed with its major Mexican customer to receive payment settlement for approximately $125 million related to its outstanding receivables. The Company expects to collect this amount in the first half of February 2025. These payments represent over 75% of the outstanding receivables with this customer as of December 31st, 2024. These collections will be subject to an [...]
Borr Drilling Ltd. plans to release its financial results for the fourth quarter 2024 after the close of the New York Stock Exchange on Wednesday 19 February, 2025. A conference call and webcast is scheduled for 15:00 CEST on Thursday 20 February, 2025 and participants are encouraged to dial in 10 minutes before the start of the call. The earnings report, webcast and accompanying presentation will be available from the [...]
Borr Drilling Ltd. has received a notice of temporary suspension of operation for its rigs "Galar", "Gersemi" and "Grid", operating in Mexico. The temporary suspension will be for a period of up to 31 March 2025. Based on discussions with our customer, it is expected that some or all of these three rigs may be resuming operation prior to this date. Hamilton, Bermuda 15 January 2025 Forward looking statements This press [...]
Borr Drilling Ltd. will present at the Fearnley Securities' Annual Offshore Drilling Seminar in New York and London on January 15 and 16, 2025, respectively. A copy of the presentation to be held is available on the Company's website at www.borrdrilling.com and enclosed to this release. Hamilton, Bermuda 15 January 2025 Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208 This information was brought to [...]
Borr Drilling Ltd. initiated a share repurchase program on December 13, 2024 to repurchase USD 10 million of the Company's common shares in open market transactions on the OSE and NYSE until no later than December 31, 2024 pursuant to an agreement with DNB Markets, a part of DNB Bank ASA . This was the second step under the Board of Directors authorized commitment to repurchase $20 million worth of shares before the end [...]
Borr Drilling Ltd. refers to i) its announcement on 6 November 2024, where the Company announced the authorization by its Board of Directors of a commitment to repurchase $20 million worth of shares within year end 2024, under its previously announced $100 million share repurchase authorization, and ii) the announcement on November 20, 2024, where the Company announced the completion of the first $10 million repurchases [...]
Borr Drilling Ltd. is pleased to announce a new contract commitment for its premium jack-up rig "Norve" with a repeat customer in West Africa. This work is in direct continuation of the Marathon Oil contract and is estimated to commence in Q3 2025. The contract is for five wells firm, with an anticipated duration of 320 days, plus up to five optional wells at mutually agreed prices. This commitment adds an additional $58 [...]
Borr Drilling Ltd. initiated a share repurchase program on November 12, 2024 to repurchase USD 10 million of the Company's common shares in open market transactions on the OSE and NYSE until no later than November 30, 2024 pursuant to an agreement with DNB Markets, a part of DNB Bank ASA . This was the initial step under the Board of Directors authorized commitment to repurchase $20 million worth of shares before the end [...]
Borr Drilling Ltd. has received a notice of temporary suspension of operation for its rig "Arabia II", operating in Saudi Arabia. The temporary suspension will be for a period of up to 12 months. The commencement date of the suspension is still to be confirmed by the customer. Forward looking statements This press release includes forward looking statements, which do not reflect historical facts and may be identified by [...]
Borr Drilling Ltd. refers to its announcement on 6 November 2024, where the Company's Board of Directors authorized the commitment to repurchase $20 million worth of shares within year end 2024, under its previously announced $100 million share repurchase authorisation. The intention of the program is to service its shareholders by way of reducing the share capital. As an initial step under the repurchase program, the [...]
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