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Borr Drilling ( (BORR) ) has provided an announcement.
Borr Drilling announced on January 30, 2025, that it has reached an agreement with a major Mexican customer to settle approximately $125 million of outstanding receivables, which is over 75% of the total owed as of December 31, 2024. This settlement, expected to occur in February 2025, reflects the Mexican government’s and PEMEX’s efforts to establish a reliable supplier payment mechanism, potentially enhancing future offshore drilling opportunities in the region.
More about Borr Drilling
Borr Drilling Limited operates in the offshore drilling industry, primarily focusing on providing drilling services with its fleet of jack-up rigs. The company is known for its operations in various international markets, including significant activities in Mexico, where it collaborates with major local customers and governmental entities.
YTD Price Performance: -15.80%
Average Trading Volume: 4,763,470
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $840.3M
For an in-depth examination of BORR stock, go to TipRanks’ Stock Analysis page.
