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Rig operator Borr Drilling has kept its share price above USD 1 for more than 30 days, and the company is thus allowed to remain listed on the New York Stock Exchange.
Rig operator Borr Drilling has reached an agreement with its lenders and yards, which ensures the company's operations until mid-2022. The deal includes postponement of the delivery of five rigs by two years.
A new, deep downturn in the drilling industry is expected to cause "a wave" of restructurings, projects Nordea Markets. The bank expects to see a high number of rigs taken off-market over the coming years. So does Maersk Drilling's CEO.
Borr Drilling continues its hunt for cash with a new share emission to, among others, its majority owner Tor Olav Trøim. The company also sold a rig for scrapping last week. Creditor negotiations continue.
Borr Drilling is negotiating with its creditors to find a solution that can safeguard it until 2022, even in a scenario without further contracts, informs the company in an update. The company books a large deficit in the first quarter of the year.
Drilling company Borr Drilling, which is listed in the US, has received a warning from the New York Stock Exchange.
Rig operator Borr Drilling has made an agreement to sell two jack-up rigs. The company also postpones publication of its annual report.
Customers return rigs to Borr Drilling ahead of schedule due to the coronavirus pandemic. The early returns cost the drilling company millions in lost revenue.
The big slide in the oil price comes as a setback to the recovery in the rig sector, which is already becoming protracted. This could at worst trigger restructurings, ABG Sundal Collier's analyst tells ShippingWatch.
Rig company Borr Drilling, whose major shareholders include Tor Olav Trøim, exits the fourth quarter with a new major deficit. The firm mulls divesting both newer and older rigs.
Rig company Borr Drilling has entered a financing deal on a newbuild rig slated for delivery this summer.
Brokerage Pareto Securities expects a better drilling market. But if things take a turn for the worse, three players in particular stand to be better positioned than competitors.
Drilling firm Borr Drilling has found its new chief financial officer, who will start later in January and comes with 30 years' experience from Schlumberger.
Rig company Borr Drilling has reached a deal with its banks to lower certain financial requirements. The company is also in talks with a shipyard about postponing delivery of new rigs.
Four of the world's biggest rig companies all booked major deficits in the third quarter, and only one company lands in an overall plus for 2019. The fifth, Maersk Drilling, did not publish its bottom line. "We provide the figures we provide at the moment," the company's CEO Jørn Madsen says to ShippingWatch.
Rig company Borr Drilling presents a new huge deficit for the third quarter. The company has now lost a total of USD 232 million in 2019.
Norway's Borr Drilling has secured a number of new contracts and extensions since August this year, and the drilling company's fleet approaches 20 rigs.
Borr Drilling nearly doubled its bottom line deficit in the second quarter, reveals the company's financial report. The drilling company also secured a major credit facility in the quarter and presented the new price of its stock on the New York Stock Exchange.
Drilling company Borr Drilling, founded by Chairman Tor Olav Trøim, nominates former Schlumberger CEO to succeed Trøim as chairman.
Setbacks in Borr Drilling and Golar LNG stock hit investor Tor Olav Trøim with losses totaling USD 222 million in asset values in one year, according to a Norwegian newspaper which reports that the sum corresponds to what Trøim received from Seadrill in 2014.
Borr Drilling, controlled by Tor Olav Trøim, wants to be listed in New York. The company plans to raise up to USD 50 million by seeking a listing on the New York Stock Exchange.
Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold.
Rig operator Borr Drilling has secured financing for its newbuild program with a new credit facility of USD 645 million. Despite a deficit in the first quarter, management is optimistic about the future.
Borr Drilling, owned by Norway's Tor Olav Trøim, among others, has just acquired a new jack-up newbuilding. The acquisition price is nearly half of what it was originally ordered for.
Borr Drilling, headed by Tor Olav Trøim, finished last year with net loss of USD 190 million, shows the rig company's preliminary results. The fourt quarter in particular weighed down the results.
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