Welcome to our dedicated page for BORR DRILLING news (Ticker: BORR), a resource for investors and traders seeking the latest updates and insights on BORR DRILLING stock.
Borr Drilling Limited reports developments tied to its international shallow-water drilling business and fleet of modern, high-specification jack-up rigs. Company news commonly covers rig contract awards and extensions, fleet operating status, regional deployment updates, dayrate and coverage commentary, and earnings-release schedules for its offshore oil and gas customers.
Updates also include shareholder meeting notices, annual report availability, and capital-structure actions such as convertible debt offerings or repurchases. Borr Drilling is incorporated in Bermuda and its common shares trade under BORR on the New York Stock Exchange and Euronext Growth Oslo.
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Borr Drilling Limited (NYSE: BORR) announced the appointment of Daniel Rabun as a Director, effective April 25, 2023. Mr. Rabun brings significant experience to the Company, having served as the Chairman, President, and CEO of Ensco plc from 2007 to 2015. He previously worked as a partner at Baker & McKenzie LLP, advising oil and gas firms. His board experience includes roles at Golar LNG Ltd, where he served from 2015 to 2017, and at APA Corporation since May 2015. Currently, he holds the position of Chairman of the Board at ChampionX Corporation. Rabun holds a Bachelor’s in Accounting from the University of Houston and a Juris Doctorate from Southern Methodist University.
Borr Drilling Limited (NYSE: BORR) has announced a significant contract award for its premium jack-up rig "Hild" from an undisclosed customer for operations in Latin America. The contract, valued at US$123 million, includes mobilization and demobilization fees, and spans a term of 725 days, set to commence in Q3 2023. Following this award, all 22 of the Company's delivered rigs are now contracted or committed, indicating strong market demand with no rig availability until late Q3 2023. The Company remains optimistic about future contracting opportunities as the market improves.
Borr Drilling Limited (NYSE: BORR) announced the completion of its Special General Meeting on February 23, 2023, and the successful placement of $250 million in Convertible Bonds. The Company has entered into a share lending agreement (SLA) to facilitate hedging activities for investors, making 15 million shares available, with an additional 10 million shares to follow. Following the meeting, Borr Drilling's issued share capital increased by $1 million to $25,426,359.80, resulting in a total of 254,263,598 shares. The new shares will be placed under a separate ISIN and are currently treasury shares, not yet admitted to trading.
Borr Drilling Limited (NYSE: BORR) held a Special General Meeting on February 23, 2023, in Hamilton, Bermuda. During this meeting, shareholders approved an increase in the Company's authorized share capital from US$25.5 million to US$31.5 million. This change allows for the issuance of an additional 60 million common shares at a par value of US$0.10 each. This increase is necessary for the Company to finalize the settlement associated with its previously announced convertible bond offering.
Borr Drilling Limited will present its fourth quarter 2022 results on February 16, 2023, at 15:00 CET (9:00 AM New York time) via a webcast and conference call. Investors can access the presentation through a provided link and can register for the conference call to receive dial-in details. A replay of the call will be available post-event. For inquiries, contact Magnus Vaaler, CFO.