Borr Drilling Secures New Contracts for Jack-Up Rigs

Borr Drilling ( (BORR) ) has provided an update.

On July 2, 2025, Borr Drilling Limited announced new contract commitments for four of its jack-up rigs, increasing its contracted fleet to 23 out of 24 rigs. These contracts, totaling approximately 1,300 days and over $129 million in revenue, enhance the company’s revenue visibility and contract coverage. Notably, in the Middle East, the ‘Arabia II’ secured a 500-day contract starting in September 2025, while in Southeast Asia, the ‘Thor’ and ‘Gunnlod’ received awards for programs commencing later in the year. In Mexico, the ‘Odin’ faced a temporary suspension but secured a new 60-day accommodation program. Year-to-date, Borr Drilling has secured 13 new commitments, totaling 3,010 potential contract days and $366 million in potential revenue.

The most recent analyst rating on (BORR) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Borr Drilling stock, see the BORR Stock Forecast page.

Spark’s Take on BORR Stock

According to Spark, TipRanks’ AI Analyst, BORR is a Neutral.

Borr Drilling’s overall stock score reflects strong revenue growth and operational efficiency, offset by high leverage, negative cash flow, and recent financial setbacks. The suspension of the dividend and mixed technical indicators further add to the uncertainty, making it crucial for the company to stabilize its financials for long-term success.

To see Spark’s full report on BORR stock, click here.

More about Borr Drilling

Borr Drilling Limited operates in the offshore drilling industry, specializing in the provision of premium jack-up rigs. The company focuses on optimizing fleet utilization and securing contracts to enhance revenue visibility.

Average Trading Volume: 6,061,323

Technical Sentiment Signal: Sell

Current Market Cap: $466.7M

Learn more about BORR stock on TipRanks’ Stock Analysis page.