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Borr Drilling ( (BORR) ) has issued an announcement.
Borr Drilling has resumed or is preparing to resume operations for its four jack-up rigs in the Middle East, with Arabia III already back working offshore Saudi Arabia and Groa, Arabia II and Forseti expected to restart in Qatar and the UAE during April 2026. In the Gulf of America, the Odin jack-up is now slated to begin its delayed contract with Cantium this month after additional maintenance work.
In Southeast Asia, the Skald rig has secured a six-month drilling campaign under a new binding letter of award from an undisclosed operator, starting in the second quarter of 2026. Reflecting these contract wins and restarted activity, Borr reports 70% fleet coverage for 2026 at an average dayrate of about $134,000, with management arguing that higher commodity prices and energy security concerns are driving increased rig demand that should support the company’s young fleet and near-term utilization.
The most recent analyst rating on (BORR) stock is a Hold with a $5.45 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 Oslo. The company owns and operates a modern fleet of high-specification jack-up rigs, focusing on shallow-water drilling services for the global oil and gas industry.
Average Trading Volume: 7,365,409
Technical Sentiment Signal: Buy
Current Market Cap: $1.82B
For detailed information about BORR stock, go to TipRanks’ Stock Analysis page.