HAMILTON, Bermuda, Feb. 22, 2024 /PRNewswire/ –Borr Drilling Limited (“Borr”, “Borr Drilling” or the “Company”) announces unaudited results for the three and twelve months ended December 31, 2023.
Highlights Fourth Quarter of 2023
Total operating revenues of $220.6 million, an increase of $29.1 million or 15% compared to the third quarter of 2023
Net income of $28.4 million, an increase of $28.1 million compared to the third quarter of 2023
Adjusted EBITDA of $105.9 million, an increase of $17.7 million or 20% compared to the third quarter of 2023
Completed the refinancing of all the Company’s secured debt, established a $180 million RCF and completed a private placement of new shares for gross proceeds of $50.0 million
Total contract revenue backlog as at December 31, 2023 of $1.75 billion, including Mexico rigs
Subsequent events
2024 year to date, the Company has been awarded three new contract commitments, representing 495 days and $82.2 million of potential contract revenue
The Board declared a cash dividend of $0.05 per share for the fourth quarter to shareholders of record on March 4, 2024. Payment date will be on or about March 18, 2024.
CEO, Patrick Schorn commented:
“Our fourth quarter performance has been strong, enabling us to close the year having achieved several major milestones.
On the …
Leave a Reply