Borr Drilling Limited

Borr Drilling Limited is an offshore shallow-water drilling contractor serving the oil and gas industry. The company owns, contracts, and operates jack-up rigs for drilling and workover operations in shallow-water areas. It provides related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production. Borr Drilling serves a diverse client base including integrated oil companies, state-owned national oil companies, and independent oil and gas companies. Its operations span the Americas, Southeast Asia, West Africa, the Middle East, North Africa, and Europe.

Borr Drilling Limited is listed on the New York Stock Exchange (NYSE) under the ticker symbol BORR. Its shares are traded in US Dollars (USD). The company is incorporated in Bermuda and is headquartered in Hamilton, Bermuda. As a NYSE-listed company, it reports its financial results in USD, which is the functional currency for its operations.

Borr Drilling operates in the Energy sector, specifically within the Oil & Gas Drilling industry. This means the company is primarily involved in drilling services for oil and gas exploration and production companies. As a shallow-water drilling contractor, it focuses on jack-up rigs that are used in water depths typically up to about 400 feet. The company's activities are a critical part of the upstream oil and gas value chain, helping clients access hydrocarbon reserves beneath the seabed.

Borr Drilling Limited is headquartered in Hamilton, Bermuda, and was incorporated in 2016. The company operates globally, serving key oil and gas regions including the Americas, Southeast Asia, West Africa, the Middle East, North Africa, and Europe. Its jack-up rigs are deployed in shallow-water areas across these regions. The company's client base includes major integrated oil companies, state-owned national oil companies, and independent oil and gas firms. Formerly known as Magni Drilling Limited, it rebranded to Borr Drilling Limited in December 2016.

Borr Drilling generates revenue by contracting its jack-up rigs to oil and gas companies for drilling and workover operations. The company provides the rig, equipment, and work crews to conduct these operations for exploration and production activities. Its business model is based on day rates for rig usage, with contracts typically ranging from a few months to several years. The company's fleet of jack-up rigs is designed for shallow-water environments, and it competes for contracts with other offshore drilling contractors. Revenue is driven by demand for oil and gas drilling services, which is influenced by commodity prices and exploration spending by its clients.