Borr Drilling Limited
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsBorr Drilling Limited is an offshore shallow-water drilling contractor that operated 307,215,419 common shares outstanding as of December 31, 2025, and reported $1.02 billion of revenue for fiscal 2025.
What they do
Borr Drilling Limited is an offshore drilling company incorporated in Bermuda and listed on the New York Stock Exchange under the symbol BORR. The company provides drilling services for oil and gas wells, and its common shares had a par value of $0.10 per share as of December 31, 2025.
Revenue drivers
- Offshore drilling contract revenue — The company generates revenue by providing drilling services for oil and gas wells, with total annual revenue reaching $1.02 billion in 2025 and $1.01 billion in 2024.
Recent performance
Revenue grew from $245.3 million in 2021 to $1.01 billion in 2024 and $1.02 billion in 2025. Net income was negative in 2021 and 2022, then positive at $22.1 million in 2023, $82.1 million in 2024, and $45.0 million in 2025. Operating cash flow turned sharply positive at $251.9 million in 2025 compared with $77.3 million in 2024. At June 30, 2026, the company reported total assets of $3.70 billion, total liabilities of $2.73 billion, and shareholder equity of $961.6 million.
Strategy
The filing does not provide detailed strategic initiatives in the excerpts presented. No specific investments, priorities, or stated direction are described in the provided source material.
Risks
- Leverage — The company reported long-term debt of $2.49 billion as of June 30, 2026, implying significant fixed obligations relative to shareholder equity of $961.6 million.
- Industry cyclicality — As a drilling contractor, Borr Drilling's results depend on oil and gas industry activity, and net income fell from $82.1 million in 2024 to $45.0 million in 2025.
- Revenue concentration — The company appears to derive revenue principally from offshore drilling services, with total revenue essentially flat at $1.02 billion in 2025 versus $1.01 billion in 2024.
- Dividend variability — Dividends per share were $0.05 in 2023, $0.27 in 2024, and $0.02 in 2025, indicating distributions can fluctuate sharply.
Outlook
The provided source material does not include management's forward-looking outlook or trend information. No specific guidance, contract backlog, or future plans are described in the excerpts. Nothing further can be stated without speculating beyond the filing.