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Read all the latest news about Borr Drilling. ShippingWatch gives you independent, credible, critical and fair news.

Oil collapse could remove more than 100 drilling rigs

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 appoints new CFO

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.

Banks ease requirements for Borr Drilling

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 rig companies lost a combined USD 1.6 billion in three months

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.

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.

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