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Borr Drilling loses over USD 100 million in second quarter

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.

Media: Trøim booked hundred-million loss in one year

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 looking to seek US listing

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.

Borr Drilling settles large credit facility

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 buys newbuilt rig at half price

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.

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.

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