Borr Drilling Shares Rise After New Contracts Signed for Jack-up Rigs

MT Newswires Live

04-09

Borr Drilling (BORR) shares rose as much as 14% in intraday trading Tuesday after the company announced new contracts for three of its premium jack-up rigs.

The contracts have an expected combined duration of 774 days and estimated revenue of $120 million, the company said Tuesday in a statement.

Borr received binding letters of award from Vietsovpetro in Vietnam for a project starting in April and from Foxtrot in Ivory Coast for a project beginning in late Q4.

The company also received a letter of award from an undisclosed operator in West Africa for a project set to start in H2 2026, pending the customer's final investment decision.

Price: 1.88, Change: +0.05, Percent Change: +2.73

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