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Transocean acquisition marks milestone in rig market recovery

With Transocean's billion dollar takeover of Ocean Rig, the outlines of a new and forward-looking rig market are emerging, one in which Maersk Drilling features among the major players. A sustainable market level is in sight for the first time in a long while.

Borr Drilling's rigs are now generating income

Recently established Borr Drilling, led by Tor Olav Trøim as chairman, has begun to bring in earnings for the company, shows the report. However, the company still has a negative bottom line.

Borr Drilling sells 14 jack-up rigs

The sale of 14 jack-up rigs will contribute a double-digit profit to the bottom line of Tor Olav Trøim's Borr Drilling in the second quarter.

Analyst: remarkable development at Borr Drilling

"It is remarkable what Tor Olav Trøim has achieved in such a short amount of time," writes analyst firm Rystad Energy about the news of Borr Drilling's acquisition of Paragon Offshore. Another analyst describes the acquisition as unexpected.

Borr Drilling expects better rig market in 2018

Newly established rig company Borr Drilling booked expenses of USD 24.9 million in the third quarter. The jack-up market continues to show healthy supply activity and the company expects increased activity in 2018.

Norwegian shipping investor debuts in dry bulk

Founder of rig company Borr Drilling, Tor Olav Trøim, is now targeting dry bulk with the company 2020 Bulkers. The plan is to list the company on the minor OTC stock exchange, reports local media Finansavisen.

Borr Drilling gets green-light on Norwegian IPO

Recently launched Norwegian rig company Borr Drilling has been granted permission for a listing on the Oslo Stock Exchange, even though the company has only existed for one year. Normally, a company must be three years old before it can hit the stock exchange.

Borr Drilling to seek IPO in Norway

The new drilling company, founded by two former senior execs from Fredriksen's Seadrill, plans to go public in Norway and expects to submit an application in late August, says the company in a press release.

Norway's Borr Drilling in giant order for 15 rigs

Somewhat newly-established company Borr Drilling in Norway is looking to buy 15 rigs from US-Swiss rig major Transocean for USD 1.35 billion. Borr Drilling is headed by the former CFO of John Fredriksen's Seadrill, Tor Olav Trøim.

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