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.
Borr Drilling (NYSE: BORR) has announced the filing of its Annual Report on Form 20-F for the Year Ended December 31, 2024 with the SEC on March 25, 2025. The 2024 Annual Report is now accessible through multiple channels:
- SEC's website (www.sec.gov)
- Company's website (www.borrdrilling.com)
For inquiries, stakeholders can contact CFO Magnus Vaaler at +44 1224 289208.
Borr Drilling (NYSE: BORR) has announced its upcoming Annual General Meeting scheduled for Wednesday, May 21, 2025. The company has established March 6, 2025, as the record date for determining shareholders eligible to receive notice, attend, and vote at the meeting or any adjournment.
The Notice of Annual General Meeting and Form of Proxy will be distributed to shareholders through normal channels. Shareholders can access additional information, including the Company's Annual Report, on the corporate website at www.borrdrilling.com.
Borr Drilling (NYSE: BORR) has announced a cash distribution of $0.02 per share for the fourth quarter of 2024. The distribution was approved by the Company's Board of Directors and will be paid to shareholders of record on March 3, 2025. For NYSE-traded shares, the ex-date is March 3, 2025, with payment expected around March 19, 2025.
For shareholders registered in Euronext VPS (Norwegian Central Security Depository), the ex-date is set for February 28, 2025, with payment expected around March 24, 2025.
Borr Drilling (NYSE: BORR) has reached an agreement with its major Mexican customer for a payment settlement of approximately $125 million for outstanding receivables. The payment, expected in the first half of February 2025, represents over 75% of the outstanding receivables with this customer as of December 31st, 2024. The collections will include a financing fee in the mid-single digit percentage range.
CEO Patrick Schorn noted that the Mexican government and PEMEX administration's commitment to establishing a sustainable supplier payment mechanism could positively impact future offshore drilling opportunities in Mexico.
Borr Drilling (NYSE: BORR) has announced it will release its Q4 2024 financial results after the NYSE market close on Wednesday, February 19, 2025. The company will host a conference call and webcast on Thursday, February 20, 2025, at 15:00 CEST (9:00 AM New York Time).
Participants are advised to join 10 minutes before the call start time. The earnings report, webcast, and presentation materials will be accessible through the Investor Relations section of www.borrdrilling.com. The company has provided multiple access options including a webcast link and a conference call registration system that offers both dial-in and 'Call me' features. A replay stream will be available after the call.
Borr Drilling (NYSE: BORR) has announced a temporary suspension of operations for three of its rigs - Galar, Gersemi, and Grid - in Mexico. The suspension period extends until March 31, 2025. Based on discussions with their customer, the company indicates that some or all of these rigs may resume operations before the end of the suspension period.
Borr Drilling (NYSE: BORR) has announced its participation in the Fearnley Securities' Annual Offshore Drilling Seminar, scheduled for January 15 and 16, 2025, in New York and London respectively. The company has made the presentation materials publicly available on their official website at www.borrdrilling.com.
Interested parties can direct their questions to CFO Magnus Vaaler at +44 1224 289208. The presentation documents are also available for download through the provided Cision link, featuring the 'Borr Drilling - Fearnleys 2025 presentation'.
Borr Drilling (NYSE: BORR) has provided an update on its share repurchase program initiated on December 13, 2024. The company has purchased 2,279,305 shares at an average price of $3.763 per share, totaling $8.58 million through December 20, 2024. This represents the First Tranche of a larger $10 million repurchase program, which is part of the Board's authorized $20 million share buyback commitment for 2024. Following these transactions, Borr Drilling has repurchased a total of 4,745,586 shares, representing 1.80% of the company's total issued shares.
Borr Drilling (NYSE: BORR) has initiated the Second Tranche of its share repurchase program, partnering with DNB Markets to purchase the remaining $10 million worth of shares by December 31, 2024. This follows the completion of the First Tranche ($10 million) announced on November 20, 2024, under the previously authorized $20 million commitment.
The Second Tranche purchases will begin on December 13, 2024, with a cap of 4 million shares and a maximum price of $5.00 per share. The program aims to reduce share capital and benefit shareholders. DNB will execute trades independently, following Market Abuse Regulation guidelines, though Borr reserves the right to suspend purchases without notice.
Borr Drilling has secured a new contract for its premium jack-up rig 'Norve' with a returning customer in West Africa. The contract, scheduled to begin in Q3 2025 following the completion of the Marathon Oil contract, includes five firm wells with an estimated duration of 320 days. The agreement also includes options for up to five additional wells at mutually agreed prices. This new commitment will add $58 million to Borr's contract revenue backlog, excluding options, mobilization, and demobilization compensation.