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 recently secured new contracts and extensions for its rigs, including the Odin, Idun, and Bestla, across various regions. These developments increase the company's forward workload and improve visibility on future operating cash generation, supporting the bullish investment thesis that a young fleet and consistent contract wins can lead to sustainable profits. However, the company still faces risks related to high leverage and reliance on external borrowing, making operational execution without missteps critical for success.
An associate of Borr Drilling Director Tor Olav Trøim, Drew Holdings Ltd., purchased 150,000 shares of Borr Drilling at an average price of USD 4.3795. This transaction increases the director's indirect ownership, signaling confidence in the company, and is subject to mandatory disclosure rules for insiders. Borr Drilling (BORR) is an offshore drilling contractor operating modern jack-up rigs for shallow-water drilling services.
Borr Drilling Director Tor Olav Troim recently purchased 150,000 shares of the company, valued at $657,000, through an indirectly held trust. This acquisition is seen as a strong buy signal, especially given Troim's deep understanding of the company and the stock's 43% one-year return. Despite current challenges like lease agreements limiting immediate benefits from higher oil prices and expected net losses, the insider purchase suggests confidence in future growth and strategic moves, such as fleet expansion and divestitures in joint ventures.
Borr Drilling Director Tor Olav Troim indirectly acquired 150,000 common shares of Borr Drilling Ltd (NYSE:BORR) on September 17, 2026, through Drew Holdings Ltd. This transaction, valued at $4.3795 per share, increased his indirect beneficial ownership to 30,535,941 shares. The filing also notes 54,545 restricted stock units set to vest on September 30, 2026, contingent on his continued directorship.
Zacks Research has downgraded Borr Drilling (NYSE:BORR) to a "strong sell" rating from "hold" following the company's latest quarterly results, which missed analyst expectations for both earnings and revenue. The stock's current performance shows a decline, and the company carries significant debt, though insider buying by a director indicates some confidence. Despite the downgrade, the broader analyst consensus remains "hold" with an average price target of $5.27.
Borr Drilling has agreed to sell its 51% stake in the Mexican well services joint venture (JV) Perfomex to its local partner. This deal will give the local partner full ownership and operational control of three jack-up rigs (Galar, Gersemi, and Njord) currently working for PEMEX. Borr will retain ownership of the rigs and continue involvement through bareboat charter agreements, with the sale expected to complete this month.
Squarepoint Ops LLC significantly increased its stake in Borr Drilling Limited (NYSE:BORR) by 129.8% in the second quarter, acquiring an additional 789,214 shares to bring its total holdings to 1.40 million shares valued at $5.77 million. This increase comes despite Borr Drilling reporting weaker-than-expected quarterly results, with an EPS loss of $0.79 and revenue below estimates. The company maintains a consensus "Moderate Buy" rating from analysts, with an average price target of $5.27, and institutional investors now own 83.12% of the stock.