Borr Drilling Plans Acquisition Amid Strong Growth Indicators
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 15 2024
0mins
Source: SeekingAlpha
Borr Drilling Ltd shares fell 5.07% after crossing below the 5-day SMA, reflecting a challenging trading session.
The decline comes despite Borr Drilling's plans to acquire five new jack-up rigs and analysts projecting a 16.5% revenue increase to $252.36 million in Q1, showcasing robust performance amid rising oil prices. This indicates a potential for future growth, but current market conditions have led to a downward price movement.
Investors may need to consider the broader market context, as both the Nasdaq-100 and S&P 500 are experiencing declines, which could be impacting Borr Drilling's stock performance.
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Analyst Views on BORR
Wall Street analysts forecast BORR stock price to fall
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 5.070
Low
3.60
Averages
4.10
High
4.60
Current: 5.070
Low
3.60
Averages
4.10
High
4.60
About BORR
Borr Drilling Limited is an international drilling contractor providing offshore drilling services to the oil and gas industry. The Company's primary business is the ownership, contracting and operation of jack-up rigs for operations in shallow-water areas (in water depths up to approximately 400 feet), including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production customers. The Company owns approximately 29 rigs. Its rigs include Skald, Groa, Idun, Thor, Norve, Gerd, Natt, Ran, Odin, Gersemi, Grid, Galar, Njord, Prospector 1, Saga, Prospector 5, Mist, Gunnlod, Arabia III, Arabia I, Vali, Arabia II, and others. It operates oil-producing geographies throughout the world, including the Middle East, the North Sea, Latin America, West Africa and South East Asia. The Company contracts its jack-up rigs primarily on a daily rate basis to drill wells for its customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Borr Drilling Increases Tender Offer for 2030 Notes
- Increased Repurchase Amount: Borr Drilling announced that its wholly owned subsidiary, Borr IHC Limited, has raised the repurchase amount for its 10.375% Senior Secured Notes due 2030 from $447.3 million to all outstanding 2030 Notes, indicating a proactive approach to debt management aimed at optimizing its capital structure.
- Current Note Status: As of now, the original aggregate principal amount of the 2030 Notes stands at $877.1 million, with an adjusted amount of $770.7 million after amortization, reflecting the company's transparency in debt management and commitment to its investors.
- Revised Financing Conditions: The financing conditions for the repurchase have been amended to require the completion of at least $2.035 billion in new notes issuance, which not only secures the funding for the repurchase but may also enhance market confidence in the company's financial health.
- Market Reaction Expectations: This move by Borr Drilling is likely to have a positive impact on its stock price, especially against the backdrop of investor focus on the company's financial stability and future growth potential, further enhancing market recognition of its long-term investment value.
See More
Borr Drilling Prices $2.035 Billion Senior Secured Notes Offering
- Expanded Bond Offering: Borr Drilling successfully priced a $2.035 billion senior secured notes offering, which includes $1.1 billion of 8.750% notes and $935 million of 9.000% notes, representing a $435 million increase over the previously contemplated amount, indicating strong market support for its financing needs.
- Maturity Timeline: The notes are set to mature in 2032 and 2034, with settlement expected around June 10, 2026, suggesting a stable influx of capital for the company to support its operations and expansion plans over the coming years.
- Financial Performance Overview: In its latest earnings report, Borr Drilling reported a GAAP EPS of -$0.09, missing expectations, with revenue of $247 million falling short by $5.36 million, reflecting challenges the company faces in the current market environment.
- Future Outlook: The company anticipates achieving 71% coverage by 2026 and plans to launch the Odin project by late June while expanding its fleet to 34 rigs, demonstrating confidence in future growth and strategic positioning.
See More
Borr Drilling Prices $2.035 Billion Senior Secured Notes Offering
- Increased Financing Size: Borr Drilling announced that its wholly-owned subsidiaries, Borr IHC Limited and Borr Finance LLC, priced an offering of $2.035 billion in senior secured notes, including $1.1 billion of 8.750% notes and $935 million of 9.000% notes, representing a $435 million upsize over the previously contemplated amount, indicating strong market support for its financing needs.
- Debt Restructuring Plan: The proceeds from this offering will be used to fully repurchase and refinance the outstanding 10.000% and 10.375% senior secured notes, which currently total $1.128 billion and $770.7 million respectively, aimed at reducing financing costs and optimizing the capital structure to enhance the company's financial flexibility.
- Asset Backing Assurance: The notes will be guaranteed by the company and certain subsidiaries, secured by most of the rigs and other assets, ensuring investor capital safety while enhancing the company's credibility in the capital markets.
- Market Expectations and Compliance: The settlement of the notes is expected around June 10, 2026, subject to customary closing conditions, indicating the company's proactive approach to expanding financing channels while adhering to regulatory requirements to support future business growth.
See More
Borr Drilling Increases Tender Offer Amount for 2030 Notes
- Increased Repurchase Amount: Borr Drilling announced that its wholly-owned subsidiary, Borr IHC Limited, has raised the repurchase amount for its 10.375% Senior Secured Notes due 2030 from $447.3 million to all outstanding 2030 Notes, indicating strong confidence in liquidity management.
- Current Note Status: As of now, the original aggregate principal amount of the 2030 Notes stands at $877.1 million, with an adjusted amount of $770.7 million after amortization, reflecting proactive debt management that aids in optimizing the capital structure.
- Revised Financing Conditions: The financing conditions for the repurchase have been amended to require the completion of at least $2.035 billion in new notes issuance, ensuring that the company can proceed with the repurchase upon meeting these conditions, showcasing its keen awareness of market financing dynamics.
- Market Reaction Expectations: Although this repurchase does not constitute an offer to buy or sell, the proactive financing strategy may bolster investor confidence, potentially leading to a positive impact on the company's stock price and enhancing market expectations for its future growth.
See More
Borr Drilling Releases New Investor Presentation
- Company Overview: Borr Drilling Limited, incorporated in 2016, specializes in providing modern jack-up rig services to the global offshore oil and gas industry, listed on the NYSE since July 31, 2019, and on Euronext Oslo Bors since May 21, 2026 under the ticker 'BORR'.
- Investor Presentation: On May 26, 2026, the company released a new investor presentation on its website, aimed at providing investors with the latest company information and strategic direction, thereby enhancing transparency and investor confidence.
- Service Focus: Borr Drilling focuses on shallow-water drilling services, operating high-specification jack-up rigs that meet the global demand for efficient and safe drilling services, further solidifying its market position.
- Contact Information: Investors with inquiries can contact CFO Magnus Vaaler at +44 1224 289208, ensuring that they can obtain necessary information promptly to make informed investment decisions.
See More
Borr Drilling Releases New Investor Presentation
- Company Overview: Borr Drilling Limited, incorporated in 2016, focuses on providing modern jack-up rig services to the global offshore oil and gas industry, having been listed on the NYSE since 2019 and on Euronext Oslo Bors since 2026, which enhances its market presence.
- Investor Presentation: The company has released a new investor presentation on its website aimed at showcasing its business model and market positioning to potential investors, thereby increasing transparency and attracting more investor interest.
- Market Positioning: Borr Drilling specializes in the shallow-water segment, owning high-specification jack-up rigs that meet the growing offshore oil and gas demand, thus enhancing its competitive edge in the industry.
- Contact Information: For further inquiries, investors can reach CFO Magnus Vaaler at +44 1224 289208, ensuring they can stay updated on the company's latest developments.
See More
Borr Drilling Increases Tender Offer for 2030 Notes
- Increased Repurchase Amount: Borr Drilling announced that its wholly owned subsidiary, Borr IHC Limited, has raised the repurchase amount for its 10.375% Senior Secured Notes due 2030 from $447.3 million to all outstanding 2030 Notes, indicating a proactive approach to debt management aimed at optimizing its capital structure.
- Current Note Status: As of now, the original aggregate principal amount of the 2030 Notes stands at $877.1 million, with an adjusted amount of $770.7 million after amortization, reflecting the company's transparency in debt management and commitment to its investors.
- Revised Financing Conditions: The financing conditions for the repurchase have been amended to require the completion of at least $2.035 billion in new notes issuance, which not only secures the funding for the repurchase but may also enhance market confidence in the company's financial health.
- Market Reaction Expectations: This move by Borr Drilling is likely to have a positive impact on its stock price, especially against the backdrop of investor focus on the company's financial stability and future growth potential, further enhancing market recognition of its long-term investment value.
See More
Borr Drilling Prices $2.035 Billion Senior Secured Notes Offering
- Expanded Bond Offering: Borr Drilling successfully priced a $2.035 billion senior secured notes offering, which includes $1.1 billion of 8.750% notes and $935 million of 9.000% notes, representing a $435 million increase over the previously contemplated amount, indicating strong market support for its financing needs.
- Maturity Timeline: The notes are set to mature in 2032 and 2034, with settlement expected around June 10, 2026, suggesting a stable influx of capital for the company to support its operations and expansion plans over the coming years.
- Financial Performance Overview: In its latest earnings report, Borr Drilling reported a GAAP EPS of -$0.09, missing expectations, with revenue of $247 million falling short by $5.36 million, reflecting challenges the company faces in the current market environment.
- Future Outlook: The company anticipates achieving 71% coverage by 2026 and plans to launch the Odin project by late June while expanding its fleet to 34 rigs, demonstrating confidence in future growth and strategic positioning.
See More
Borr Drilling Prices $2.035 Billion Senior Secured Notes Offering
- Increased Financing Size: Borr Drilling announced that its wholly-owned subsidiaries, Borr IHC Limited and Borr Finance LLC, priced an offering of $2.035 billion in senior secured notes, including $1.1 billion of 8.750% notes and $935 million of 9.000% notes, representing a $435 million upsize over the previously contemplated amount, indicating strong market support for its financing needs.
- Debt Restructuring Plan: The proceeds from this offering will be used to fully repurchase and refinance the outstanding 10.000% and 10.375% senior secured notes, which currently total $1.128 billion and $770.7 million respectively, aimed at reducing financing costs and optimizing the capital structure to enhance the company's financial flexibility.
- Asset Backing Assurance: The notes will be guaranteed by the company and certain subsidiaries, secured by most of the rigs and other assets, ensuring investor capital safety while enhancing the company's credibility in the capital markets.
- Market Expectations and Compliance: The settlement of the notes is expected around June 10, 2026, subject to customary closing conditions, indicating the company's proactive approach to expanding financing channels while adhering to regulatory requirements to support future business growth.
See More
Borr Drilling Increases Tender Offer Amount for 2030 Notes
- Increased Repurchase Amount: Borr Drilling announced that its wholly-owned subsidiary, Borr IHC Limited, has raised the repurchase amount for its 10.375% Senior Secured Notes due 2030 from $447.3 million to all outstanding 2030 Notes, indicating strong confidence in liquidity management.
- Current Note Status: As of now, the original aggregate principal amount of the 2030 Notes stands at $877.1 million, with an adjusted amount of $770.7 million after amortization, reflecting proactive debt management that aids in optimizing the capital structure.
- Revised Financing Conditions: The financing conditions for the repurchase have been amended to require the completion of at least $2.035 billion in new notes issuance, ensuring that the company can proceed with the repurchase upon meeting these conditions, showcasing its keen awareness of market financing dynamics.
- Market Reaction Expectations: Although this repurchase does not constitute an offer to buy or sell, the proactive financing strategy may bolster investor confidence, potentially leading to a positive impact on the company's stock price and enhancing market expectations for its future growth.
See More
Borr Drilling Releases New Investor Presentation
- Company Overview: Borr Drilling Limited, incorporated in 2016, specializes in providing modern jack-up rig services to the global offshore oil and gas industry, listed on the NYSE since July 31, 2019, and on Euronext Oslo Bors since May 21, 2026 under the ticker 'BORR'.
- Investor Presentation: On May 26, 2026, the company released a new investor presentation on its website, aimed at providing investors with the latest company information and strategic direction, thereby enhancing transparency and investor confidence.
- Service Focus: Borr Drilling focuses on shallow-water drilling services, operating high-specification jack-up rigs that meet the global demand for efficient and safe drilling services, further solidifying its market position.
- Contact Information: Investors with inquiries can contact CFO Magnus Vaaler at +44 1224 289208, ensuring that they can obtain necessary information promptly to make informed investment decisions.
See More
Borr Drilling Releases New Investor Presentation
- Company Overview: Borr Drilling Limited, incorporated in 2016, focuses on providing modern jack-up rig services to the global offshore oil and gas industry, having been listed on the NYSE since 2019 and on Euronext Oslo Bors since 2026, which enhances its market presence.
- Investor Presentation: The company has released a new investor presentation on its website aimed at showcasing its business model and market positioning to potential investors, thereby increasing transparency and attracting more investor interest.
- Market Positioning: Borr Drilling specializes in the shallow-water segment, owning high-specification jack-up rigs that meet the growing offshore oil and gas demand, thus enhancing its competitive edge in the industry.
- Contact Information: For further inquiries, investors can reach CFO Magnus Vaaler at +44 1224 289208, ensuring they can stay updated on the company's latest developments.
See More
