Borr Drilling Limited filings document a foreign private issuer that reports current events on Form 6-K and annual information on Form 20-F. The disclosures cover its shallow-water offshore drilling business, jack-up rig contracts, fleet operating updates, earnings materials, and audited consolidated financial statements.
The filing record also includes shareholder meeting materials, proxy and voting matters, and capital-structure disclosures related to convertible senior notes and existing convertible bonds. These documents describe governance actions, security terms, financing uses, and material operational updates for the company’s worldwide drilling contractor business.
Borr Drilling Limited is moving its Norwegian share listing from Euronext Growth Oslo to the main Euronext Oslo Børs market. Trading on Euronext Oslo Børs will begin on May 21, 2026, and the shares will continue under the ticker “BORR” and ISIN BMG1466R1732.
At the same time, the shares will be deregistered from and cease trading on Euronext Growth Oslo. A prospectus for the listing was approved by the Norwegian Financial Supervisory Authority on May 20, 2026 and is available on the company’s website. Borr Drilling’s primary listing remains on the New York Stock Exchange.
Borr Drilling Limited reports Q1 2026 results with total operating revenues of $247.0 million, down from $259.4 million in Q4 2025. Operating income declined to $46.0 million, and the company posted a net loss of $29.0 million versus a near break-even result previously.
Adjusted EBITDA was $88.5 million with a margin of 35.8%, compared with $105.2 million in Q4 2025, reflecting softer profitability. Cash and cash equivalents fell to $246.0 million, while total liquidity, including revolving credit facility capacity, stood at $480 million, supporting a deleveraging plan with annual debt amortization of $144 million.
The fleet remains one of the youngest in the jack-up market, with 24 active rigs out of 29 modern rigs and Q1 2026 contract coverage of 71% based on Dayrate Equivalent Backlog. Management highlights expectations for an improved market in the second half of 2026 and sees strong prospects into 2027–2028.
Borr Drilling Limited reported unaudited results for the three months ended March 31, 2026, showing higher revenue but a wider net loss as it continues to expand its jack-up rig fleet.
Operating revenues rose to $247.0 million from $216.6 million, mainly driven by higher bareboat charter, dayrate and management contract revenue as more rigs worked across the Middle East and North Africa, the Americas and other regions. However, total operating expenses increased to $201.0 million, reflecting higher rig operating and maintenance costs, including an $8.4 million credit loss provision, added depreciation from five rigs acquired in January 2026, and higher personnel-related general and administrative expenses.
Operating income declined to $46.0 million, net loss widened to $29.0 million, and Adjusted EBITDA fell to $88.5 million from $96.1 million. Net cash from operating activities dropped to $48.1 million, while net cash used in investing activities surged to $182.9 million, largely due to $175.1 million of payments to complete the five-rig acquisition. Total debt stood at $2,360.0 million and cash and restricted cash at $246.9 million as of March 31, 2026. Subsequent to quarter-end, Borr issued $300.0 million of 3.50% Convertible Bonds due 2033 and repurchased $195.2 million of its Convertible Bonds due 2028, and entered a joint venture agreement to acquire five additional jack-up rigs in Mexico for $287.0 million, mostly financed through seller’s credit.
Borr Drilling Limited reported the results of its 2026 Annual General Meeting held on May 20, 2026 in Hamilton, Bermuda. Shareholders approved a maximum board size of eight directors and re-elected all nine named directors standing for election, including the chair and current board members.
PricewaterhouseCoopers LLP was re-appointed as independent auditors, with the board authorized to set their pay. Shareholders also approved total board remuneration fees not to exceed US$1,600,000 for the year ending December 31, 2026.
Borr Drilling Limited has scheduled the release of its financial results for the first quarter of 2026 after the close of trading on the NYSE on May 20, 2026. These results relate to the company’s offshore drilling operations and overall performance for the period.
The company will host a conference call and webcast to discuss the Q1 2026 results at 09:00 New York time (15:00 CEST) on May 21, 2026. The earnings report, webcast, and presentation will be available through the Investor Relations section of its website, and investors can access the live event or a replay via the provided webcast and registration links.
Borr Drilling Limited has completed its previously announced offering of convertible senior notes due 2033, raising $300 million in aggregate principal amount. This total includes $40 million issued when initial purchasers fully exercised their over-allotment option.
The notes are senior, unsecured obligations maturing on May 1, 2033, bearing interest at 3.50% per annum, payable semi-annually starting November 1, 2026. They are convertible into common shares, cash, or a mix at the company’s election, at an initial conversion rate of 125.0000 common shares per $1,000 principal, equivalent to an initial conversion price of about $8.00 per share. This reflects a conversion premium of over 40% versus the $5.70 closing share price on April 14, 2026.
Borr Drilling plans to use the proceeds to repurchase its existing convertible bonds due 2028 and for general corporate purposes. It has agreed with certain holders to repurchase $195.2 million aggregate principal amount of the 2028 convertible bonds, effectively extending part of its debt maturity profile through the new 2033 notes.
Borr Drilling Ltd director Tor Olav Troim reported an indirect open-market purchase of 500,000 common shares of Borr Drilling at an average price of $5.5818 per share on April 16, 2026. The shares were acquired by Drew Holdings Ltd., which is wholly owned by Drew Trust, a non-discretionary trust in which Troim is the beneficiary.
After this transaction, Troim’s indirect holdings totaled 26,122,941 common shares, and his direct holdings were 81,867 common shares. The direct position includes 54,545 restricted stock units (RSUs) that vest in full on September 30, 2026, conditional on his continued service as a director.
Borr Drilling Limited has priced $260 million of 3.50% convertible senior notes due 2033, with an additional $40 million option for over-allotments. The notes pay 3.5% interest, are unsecured, and are convertible into Borr Drilling common shares, cash, or a mix at the company’s choice.
The initial conversion rate is 125.0000 shares per $1,000 principal, implying a conversion price of about $8.00 per share. Borr plans to use the proceeds primarily to repurchase its existing convertible bonds due 2028, including an agreed repurchase of $195.2 million principal for $224.5 million, and for general corporate purposes.
Borr Drilling Limited plans to raise $250 million through an offering of convertible senior notes due 2033 to qualified institutional buyers. The notes will be senior unsecured, pay interest semi‑annually, and can be converted into common shares, cash, or a combination at the company’s election.
Borr Drilling may also sell up to an extra $37.5 million of notes to cover over‑allotments and intends to use net proceeds mainly to repurchase its existing convertible bonds due 2028 and for general corporate purposes. Any repurchase of the 2028 bonds could prompt hedged holders to buy common shares or adjust derivatives, potentially affecting the share price around the time of pricing.
Borr Drilling Limited provided an operational update showing most of its jack-up fleet disruptions are easing and contract visibility for 2026 has improved. Arabia III has resumed work offshore Saudi Arabia, while Groa in Qatar and Arabia II in the UAE are expected to restart during April 2026. The Forseti, operated under a bareboat charter, is also being prepared to resume work in Qatar.
In the Gulf of America, the Odin’s start with Cantium was delayed by extra maintenance but is now expected to begin operations in April 2026. In Southeast Asia, the Skald received a binding letter of award for a six‑month campaign starting in the second quarter of 2026. Reflecting these developments, Borr Drilling reports contract coverage for full‑year 2026 of 70% at an average dayrate of about $134,000, with coverage of 78% for the first half and 62% for the second half of 2026.