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Borr Drilling lost more than USD 300 million in the midst of restructuring

Despite a reduced deficit in the fourth quarter, rig operator Borr Drilling exits 2020 with another deficit of more than USD 300 million. The company, which recently secured approval for a rescue plan, still projects a stronger market.

Investor Tor Olav Trøim startede Borr Drilling i 2016. | Photo: PR / Marine Money/Marine Money

Rig operator Borr Drilling reports a 2020 with yet another huge deficit.

Even though the drilling company was able to reduce its deficit in the fourth quarter, where the loss came to USD 46.7 million, compared to a deficit of USD 61.9 million in the third quarter, the combined loss for the year still clocked in at USD 305.2 million, according to the annual report.

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