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Borr Drilling ( (BORR) ) just unveiled an announcement.
Borr Drilling has completed the $360 million acquisition of five premium jack-up rigs from Noble Corporation, expanding its fleet to 29 rigs and reinforcing its status as a leading pure-play owner of modern jack-up units with a broad international footprint. The addition of these compatible rigs, which have been renamed Sif, Freyja, Forseti, Bestla and Joro, is intended to enhance the company’s capacity in key offshore basins, support near-term contracting opportunities and further entrench its competitive position in the shallow-water drilling market, with management emphasizing the expected benefits for customer relationships and long-term shareholder value.
The most recent analyst rating on (BORR) stock is a Hold with a $4.60 price target. To see the full list of analyst forecasts on Borr Drilling stock, see the BORR Stock Forecast page.
More about Borr Drilling
Borr Drilling Limited is an international offshore drilling contractor, incorporated in Bermuda and listed in New York and on Euronext Growth Oslo under the ticker BORR. The company owns and operates a modern, high-specification fleet of jack-up rigs focused on the shallow-water segment, providing drilling services to the global offshore oil and gas industry.
Average Trading Volume: 5,005,057
Technical Sentiment Signal: Buy
Current Market Cap: $1.37B
Learn more about BORR stock on TipRanks’ Stock Analysis page.