Borr Drilling to Acquire Five Premium Rigs from Noble Corporation

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

On December 8, 2025, Borr Drilling Limited announced an agreement to acquire five premium jack-up rigs from Noble Corporation for $360 million. This acquisition, expected to close in Q1 2026, will expand Borr Drilling’s fleet from 24 to 29 rigs, enhancing its position as a leading owner of young premium jack-up rigs. The acquisition is strategically timed with rising demand in the jack-up rig market and is anticipated to be immediately accretive to the company’s Adjusted EBITDA. Additionally, Borr Drilling has initiated steps to list its shares on the Euronext Growth Oslo as part of a strategy to re-list on the Oslo Stock Exchange, driven by strong investor interest.

The most recent analyst rating on (BORR) stock is a Hold with a $3.50 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 score is driven by strong technical indicators and a positive earnings call, reflecting operational success and market optimism. However, financial performance is hindered by high leverage and cash flow challenges, which weigh down the overall score.

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

More about Borr Drilling

Borr Drilling Limited is a company operating in the oil and gas drilling industry, specializing in the ownership and operation of premium jack-up rigs. The company focuses on providing advanced drilling solutions and services to its clients, with a market emphasis on maintaining a young and versatile fleet to meet global demand.

Average Trading Volume: 4,579,733

Technical Sentiment Signal: Buy

Current Market Cap: $1.16B

See more data about BORR stock on TipRanks’ Stock Analysis page.