Borr Drilling Ltd. (BORR)
Summary
Borr Drilling: The Insiders Are Buying Again
Borr Drilling saw sizable insider purchases suggesting the current share price is low. While the Q2 results were mixed, successful refinancing and resilience in the Middle East were among the positives. At replacement cost of $300 million per unit, Borr Drilling offers considerable upside.
Borr Drilling Q2 Earnings Call Highlights
Borr Drilling NYSE: BORR reported lower second-quarter adjusted EBITDA and a wider net loss as rig transitions, startup costs for the Odin rig, higher fuel and insurance expenses, and a credit-loss provision weighed on results. Management said it expects a significant sequential improvement in the third quarter as transitioned rigs return to work and the Odin begins its U.S. Gulf campaign.
Borr Drilling: A Strategic Investor's Trimming Is Putting Near-Term Pressure On The Stock
Borr is undergoing a 30% correction off its recent highs so far as a strategic investor has been trimming their holdings. Other insiders have stepped in to add shares, suggesting the strategic investor isn't sizing down due to negative fundamental information. Borr has made a couple of important asset acquisitions and has taken off the table any near-term refinancing or liquidity risk.
Borr Drilling Ltd. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
 Curtis Ellergodt Rothschild Investment LLC | 471 | $1,634.67 | $2,048.85 | $414.18 | 25.34% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 2,100 | $5,793 | $9,166.5 | $3,373.5 | 58.23% |
| SN Stephanie Nee HARBOR CAPITAL ADVISORS Inc. | 3,883 | $10,203.61 | $14,988.38 | $4,784.77 | 46.89% |
| BG Bart Gancher Intech Investment Management LLC | 91,218 | $235,606.62 | $379,466.88 | $143,860.26 | 61.06% |
| MM Mike Masters Masters Capital Management LLC | 2M | $4.78M | $8.86M | $4.08M | 85.37% |
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Borr Drilling Ltd. Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Bruno Morand CEO | NYSE Exchange | G1466R207 CUSIP |
| BM Country | 2,030 Employees | 19 Mar 2025 Last Dividend | 14 Dec 2021 Last Split | 22 May 2018 IPO Date |
Overview
Borr Drilling Limited is a prominent entity in the global offshore drilling sector, offering its services primarily in the shallow-water environments conducive to oil and gas extraction processes. With its operations spreading worldwide, the company has carved a niche for itself as a reliable contractor for the oil and gas industry. Its operations revolve around owning, contracting, and operating jack-up drilling rigs, which are essential for executing operations in shallow water areas. Established initially as Magni Drilling Limited, the firm underwent a rebranding phase to become Borr Drilling Limited in December 2016. Since its incorporation in 2016 and being based in Hamilton, Bermuda, Borr Drilling has committed itself to support the exploratory and productive activities of various clients, including integrated oil companies, state-owned national oil companies, and independent oil and gas companies.
Products and Services
- Jack-Up Drilling Rigs
Borr Drilling Limited specializes in the provision of jack-up drilling rigs. These rigs are crucial for operations in shallow-water areas and are designed to offer stability and efficiency during drilling operations. They enable the company to conduct oil and gas drilling and workover operations, ensuring that exploration and production activities are carried out effectively and safely.
- Related Equipment and Work Crews
In addition to drilling rigs, Borr Drilling provides the necessary equipment and qualified work crews needed for successful drilling operations. This comprehensive service package allows the company to cater to the specific requirements of its clients, ensuring that all aspects of the drilling process, from equipment to manpower, are of the highest quality and meet industry standards.
