Borr Drilling ( (BORR) ) has provided an announcement.
On April 8, 2025, Borr Drilling Limited announced new contract commitments for three of its premium jack-up rigs, along with updates on its fleet. The company secured new awards for the rigs ‘Thor’, ‘Gerd’, and ‘Norve’, with a combined duration of 774 days and estimated revenues of $120 million. Additionally, re-mobilization notices were received for rigs previously suspended in Mexico, and long-term contracts commenced for ‘Arabia I’ and ‘Vali’, expected to significantly improve utilization, revenue, and EBITDA starting Q2 2025.
Spark’s Take on BORR Stock
According to Spark, TipRanks’ AI Analyst, BORR is a Neutral.
Borr Drilling’s stock score reflects a mix of strong revenue growth and profitability improvements along with significant financial risks due to high leverage and negative cash flow. Technical indicators suggest a bearish trend, while valuation metrics indicate potential undervaluation. Positive aspects from the earnings call are counterbalanced by market uncertainties and increased expenses.
To see Spark’s full report on BORR stock, click here.
More about Borr Drilling
Borr Drilling Limited operates in the oil and gas industry, specializing in offshore drilling services with a focus on jack-up rigs. The company is known for its fleet of premium rigs and primarily serves markets in regions such as Southeast Asia, West Africa, and Latin America.
YTD Price Performance: -52.71%
Average Trading Volume: 5,774,758
Technical Sentiment Signal: Strong Buy
Current Market Cap: $418.8M
Find detailed analytics on BORR stock on TipRanks’ Stock Analysis page.