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Borr Drilling Ltd. operates in the energy sector, within the offshore drilling services subsector, with a focus on the operation and contracting of jack-up drilling rigs.
The company was founded with the objective of meeting global demand for shallow and mid-water drilling services and is headquartered in Hamilton, Bermuda, following a strategy aimed at repositioning and modernizing the global jack-up rig fleet.
Its asset portfolio consists of modern jack-up rigs designed for operations in coastal regions and exploration blocks with shallow water depths. These units are employed by oil and gas exploration and production companies in drilling, completion, and workover activities.
The company operates on a global scale, with a presence in regions such as the Middle East, Asia, Europe, West Africa, and the Americas. Most contracts are established with national and international oil companies, covering offshore drilling campaigns subject to diverse regulatory environments.
The competitive landscape is influenced by dayrates, global fleet availability, investment cycles of oil operators, and fluctuations in oil prices.
Relevant market factors include variations in offshore exploration activity, the impact of international oil prices on rig contracting, regulatory requirements for safety and maintenance, and the growing need for modern and efficient equipment.
Competition includes companies such as Valaris, Noble Corporation, and Seadrill, which also operate jack-up fleets and related offshore drilling units.
The operational structure consists of engineering, maintenance, logistics, and operational management teams distributed worldwide. Activities include support bases, training centers, regional offices, and offshore crews working on drilling units.
Technical management involves preventive maintenance, safety certifications, and upgrades aligned with maritime and regulatory requirements in each jurisdiction.
The business model combines long- and short-term contracts depending on market conditions. The company maintains a fleet of several rigs, including units in operation and others undergoing maintenance or mobilization. Borr Drilling Ltd.’s securities are traded on the NYSE under the ticker BORR.
History and when Borr Drilling Ltd. was created
Borr Drilling Ltd. was founded in 2016 in Bermuda, with the purpose of consolidating offshore drilling assets in the jack-up segment, taking advantage of a global restructuring environment within the sector and an oversupply of drilling units. The company began operations by acquiring modern rigs from companies undergoing financial reorganization.
In its early years, the company focused on expanding its initial fleet, negotiating contracts, and repositioning rigs in markets with higher drilling demand. The development of commercial partnerships with major oil operators enabled entry into new regions and improved rig utilization rates.
The growth phase included additional acquisitions, optimization of the operational structure, and strengthening of corporate governance. The company expanded its presence in key offshore hubs such as the Persian Gulf, West Africa, and Southeast Asia, following exploration cycles in shallow-water environments.
Key historical milestones include rapid fleet expansion between 2017 and 2019, the listing on the New York Stock Exchange (NYSE) through an initial public offering (IPO), and consolidation as one of the largest global operators of modern jack-up rigs.
Between 2020 and 2024, the company faced offshore sector challenges driven by the pandemic, adjustments in contracting strategies, and renegotiations of existing agreements. The period also recorded a gradual recovery in drilling demand, ongoing fleet modernization, and expansion into high-growth markets, particularly in the Middle East.
Additional Information
The Company Borr Drilling Ltd (United States), is listed on Nasdaq with a market cap of $ 962.87 Millions, having an equity of $ 1.14 Billion.
The Company está listadathe in the sector of Others and categorized in industry of Others.
In the last 12 months the Company had a revenue of $ 1.02 Billion, which generated a profit in the amount of $ 75.30 Millions.
As for its main indicators, the Company has a P/E ratio of 12.79, a P/BV ratio of 0.84 and in the last 12 months the dividend yield of BORR was at 0.65%.
The Company is traded internationally through the ticker BORR.
