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The latest update is out from Borr Drilling ( (BORR) ).
Borr Drilling has secured new contract commitments for two of its premium jack-up rigs, reinforcing its backlog and operational visibility in the Americas. In Mexico, the rig Ran received a one-well extension from ENI, adding an estimated 75 days of work and keeping the unit on firm contract through March 2026, with a further 240 days of optional extensions still available. In the United States, the rig Odin won a new contract for two wells plus an optional third well with an undisclosed operator, expected to start in mid-2026 at roughly 60 days per well. The Odin award also triggers an option mechanism in a previously announced Gulf of America contract, giving customer Cantium an additional six-month optional period starting January 2027, which strengthens Borr Drilling’s future utilization prospects and supports longer-term revenue visibility in a competitive jack-up market.
The most recent analyst rating on (BORR) stock is a Hold with a $5.00 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 offshore drilling contractor specializing in premium jack-up rigs used for shallow-water oil and gas exploration and production. The company operates globally, with a significant presence in the Americas, serving major energy companies and independent operators seeking high-specification offshore drilling capacity.
Average Trading Volume: 4,957,165
Technical Sentiment Signal: Buy
Current Market Cap: $1.22B
See more insights into BORR stock on TipRanks’ Stock Analysis page.