Borr Drilling Limited
borrdrilling.comWhat Do They Do?
Provides offshore shallow-water drilling services using jack-up rigs, equipment and crews for oil and gas exploration and production companies.
20-F for FY2025, filed Mar 26, 2026
How Do They Make Money?
Oil and gas companies pay a daily rate for rig-and-crew drilling services over a contract period; rates can be lower or zero when work is interrupted. The company also leases rigs and provides rig-management support for daily rates or fees over contract periods.
20-F for FY2025, filed Mar 26, 2026Our drilling contracts provide for payment on a dayrate basis. A dayrate drilling contract generally extends over a period of time covering…View ↗
The Company earns revenues through bareboat charter agreements, where we lease our rigs to third party operators based on (i) fixed daily…View ↗
The Company recognizes revenues earned in relation to contract management agreements where we provide rig operational and maintenance…View ↗
$1B
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20-F for FY2025, filed Mar 26, 2026
$1B ↗
Who Are Their Customers?
Oil and gas exploration and production companies—including integrated oil companies, state-owned national oil companies and independent companies—contract rigs through competitive tenders or direct negotiations with operators.
20-F for FY2025, filed Mar 26, 2026We contract our jack-up rigs primarily on a dayrate basis to drill wells for our customers, including integrated oil companies, state-owned…View ↗
Our customers are oil and gas E&P companies, including integrated oil companies, state-owned national oil companies and independent oil and…View ↗
Our drilling contracts are individually negotiated and vary in their terms and provisions. We obtain most of our drilling contracts through…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025.
20-F for FY2025, filed Mar 26, 2026
How Are They Changing?
Growing. Revenue grew 4.2x in 4 years, from $245.3M in FY2021 to $1B in FY2025, about 43% a year.
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