Shares of Borr Drilling Ltd (NYSE: BORR), a Norwegian offshore drilling contractor, surged by 5% on November 6th, 2024, as the positive outlook for the offshore drilling sector fueled investor enthusiasm.
The company's stock rallied, driven by several favorable factors contributing to its strong performance. Borr Drilling, which operates a fleet of jack-up rigs serving oil and gas exploration firms worldwide, has secured a robust order backlog of $1.76 billion, providing clear revenue and cash flow visibility.
Additionally, the company has already secured 92% contract coverage for 2024 and 73% for 2025, demonstrating the strength of its order book. This high level of contract visibility has bolstered investor confidence in Borr Drilling's future prospects.
Furthermore, the company is benefiting from increasing day rates for new contracts, with a recent average of $184,000. This trend, coupled with a tight supply-demand scenario for modern jack-up rigs, positions Borr Drilling for EBITDA margin expansion and cash flow growth.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。