Borr Drilling Ltd. (BORR) is a leading global drilling contractor that owns and operates premium jack-up rigs. The company was founded in 2016 and is incorporated in Bermuda with main operations centers in Dubai, United Arab Emirates, and offices in Oslo, Norway, Singapore, Mexico City, and Houston, USA. Borr Drilling primarily caters to the offshore drilling market, providing critical services to oil and gas exploration and production companies worldwide.
The company prides itself on having a modern and high-spec fleet of offshore drilling rigs that are built by reputable shipyards, offering superior performance and efficiency in drilling operations. As of 2021, BORR owns and manages a fleet that includes 28 high-specification jack-up rigs. Their fleet is considered as one of the newest and most technically advanced in the world, providing safer, more efficient and reliable offshore drilling services for their customers.
Borr Drilling's business approach is to partner with oil and gas companies to deliver top-tier drilling services, guided by efficient operations and careful capital discipline to deliver superior returns for their shareholders. They function with a commitment to prioritize safety first, maintain strong integrity, foster a sustainable environment, and promote a diverse workforce. The company is known for its highly experienced and professional employees, dedicated to improving performance, safety, and environmental stewardship.
Despite being relatively young, Borr Drilling has quickly established a strong name and competitive edge within the offshore drilling industry. Their investment in acquiring state-of-the-art rigs and continuous focus on operational efficiency position them to capitalize on the increasing demand for drilling services. However, like all players in the oil and gas industry, the company has faced challenges due to the fluctuating global energy markets and the effects of the COVID-19 pandemic.
Borr Drilling is listed on the Oslo Stock Exchange and the New York Stock Exchange. While they continue to navigate the ups and downs of the global energy market, the company remains committed to delivering high-quality services and implementing innovative, sustainable solutions in their operations.
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Borr Drilling's stock has seen a 55.5% return over five years, prompting an analysis of whether its current US$3.34 price is supported by its revenue base. The article uses a Price-to-Sales (P/S) ratio of 1.0x, similar to industry averages, to assess the stock, concluding that it appears undervalued according to the Fair Ratio model. Analysts' consensus also suggests Borr Drilling is undervalued by 32% due to factors like the tight jack-up market, extended debt maturities, and growing backlog.
Rescue teams have located a fourth body after the Prospector 5 jackup drilling rig capsized offshore Gabon on October 24, 2026, with one person still missing. Borr Drilling has initiated an independent investigation to determine the cause of the catastrophic loss of stability. The rig was preparing to drill development wells for BW Energy on the Dussafu license when the incident occurred.
Borr Drilling has confirmed the recovery of a fourth deceased individual following the Prospector 5 incident offshore Gabon, with one person still unaccounted for as search operations continue. An independent classification society has been engaged to investigate the incident and determine the potential causes of the rig's loss of stability. The company continues to search for the remaining missing individual while the investigation proceeds.
Borr Drilling announced that a fourth body has been recovered following the Prospector 5 incident offshore Gabon, with search-and-rescue operations continuing for one missing person. The company has initiated an independent investigation by a classification society to determine the root cause of the catastrophic loss of stability and is cooperating with authorities while supporting affected families and employees. An analyst rating on Borr Drilling (BORR) stock currently stands at a Hold with a $4.80 price target.