Diskusjon TriggereNy! Porteføljer

Borr Drilling Limited (BDRILL)

bdrill_ol
Investeringer: #<Tag:0x00007ff297c2bf28>

#1

Starter en tråd om BORR DRILLING LTD (BDRILL.OL) siden en del har den i favoritt-listen eller i porteføljen sin :slight_smile:

Borr Drilling Limited operates as a drilling contractor to the oil and gas industry worldwide. It operates a fleet of 12 jack-up drilling rigs.

The company was formerly known as Magni Drilling Limited. Borr Drilling Limited was founded in 2016 and is based in Hamilton, Bermuda.

La oss starte diskusjonen! @tyrileif @karsten @TTKapx @nordpolen @ebreie @Fixaren @pdx


#2

Synes det er rart denne går under radaren. Er det ikke en OHS her?
imagehttps://www.investtech.com/partners/dnb/img.php?CompanyID=100792&chartId=4&indicators=80,81,82,83,84,85,87,88


#3

Den gikk ganske bra i dag
Edit: Legger ved denne for moro skyld


#4

Prøver igjen. Merkelig at ingen vil kommentere denne. Oljeprisen har god drahjelp av Trump for tiden. Sterk kjøpsanbefaling :v:️https://www.investing.com/equities/borr-drilling-consensus-estimates
Edit : lenken fungerte ikke, men klikk inn på ovenstående som oppdateres, og fanen consensus estimates


#5

Dette er en spennende aksje som eg hatt i porteføljen et par måneder! Ser at BD er kandidat at kjøpe opp Mærsk Drilling. Kan bli veldig bra på sikt! Gutta vett hva dem driver på med!


#6

Solgte for 40,50 i dag, 10 øre fra å plukke den opp igjen i sluttauksjonen. Prøver igjen i morgen. Teknisk ser den fortsatt meget sterk ut, men håper altså på lavere inngang


#7

Dette er en super tradingaksje. Laveste kurs i dag 38,80 mens høyeste var 42


#8

Ifølge TDN 220518 høyner Kepler Cheuvreux sitt kursmål på Borr fra 43 til 47 kroner


#9

Borr Drilling Limited (BDRILL) Announces Second Quarter 2018 Results

Hamilton, Bermuda, August 23, 2018: Borr Drilling Limited (“Borr”, “Borr
Drilling” or the “Company”) announces results for the three and six months ended
June 30, 2018

Highlights in the second quarter

· Operating revenues of US$51.1 million, EBITDA* of US$3.2 million and net
loss of US$7.4 million for the second quarter 2018
· Technical utilisation in the quarter for the nine operating rigs was 99.0%
· Signed agreements to acquire five jack-up drilling rigs from Keppel FELS
Limited (“Keppel”) for a total consideration of US$742.5 million in May 2018
· Secured contracts for the premium jack-up rigs “Norve”, “Prospector 1” and
“Prospector 5”, adding total backlog of approximately 17 months
· Took delivery of the premium jack-up rigs “Grid” and “Gunnlod” from PPL
Shipyard Pte Ltd. (“PPL”), and “Skald” from Keppel
· Divested 17 older, non-core jack-up rigs in the quarter, bringing the total
number of divestments to 26 rigs from the beginning of the year in Borr and
Paragon Offshore Limited (“Paragon”) combined
· Secured a US$200 million non-amortising revolving bank loan facility with
two-year duration
· Placement of US$350 million in principle amount of convertible bonds with a
five-year tenor, coupon of 3.875% and conversion premium of 37.5%. In addition,
the Company entered into call spread agreement enhancing economic conversion
premium to 75%

Subsequent events

· The premium jack-up “Prospector 5” commenced its new contract in August,
increasing Borr’s operating fleet to ten units
· Secured letter of intent for the premium jack-up “Norve” for an estimated
ten months program starting in Q3 2019 and secured contract for the standard
jack-up C20051, starting in Q3 2018 for approximately two months plus options
· Started activation of two newbuild jack-up rigs and reactivation of the
“Ran”
· Took delivery of the premium jack-up “Groa” from PPL Shipyard in July

The Consolidated Financial Statements and the Board of Directors report is
available in the files enclosed.

Management Discussion and analysis

Consolidated Statement of Operations (Financial Performance & Operating Results)

Three months ended June 30, 2018

Operating revenues were US$51.1 million for the three months ended June 30, 2018
(US$ nil in Q2 2017). The project for Total E&P Nigeria Limited (“Total”) by the
“Frigg” and the drilling campaign for BW Energy Dussafu B.V. (“BW Energy”) by
the “Norve” continued throughout the quarter. In addition, seven jack-up
drilling rigs acquired in the Paragon transaction were operational in the
quarter, contributing US$39.2 million in operating revenue.

Gain on disposals were US$17.5 million for the three months ended June 30, 2018
(US$ nil in Q2 2017). The company sold 17 rigs jack-up drilling rigs during the
second quarter for total proceeds of US$35.2 million.

Total operating expenses were US$93.4 million for the three months ended June
30, 2018 (US$12.9 million in Q2 2017). Total operating expenses consists of rig
operating and maintenance expenses, depreciation, amortisation, general and
administrative expenses, and restructuring costs.

Total rig operating, maintenance expenses, including lay-up costs, were US$52.4
million for the three months ended June 30, 2018 (US$3.1 million in Q2 2017), an
increase by US$49.3 million compared to Q2 2017. The increase is primarily
driven by USD$35.0 million in operating expenses for the rigs “Frigg”, “Norve”
and the operating jack-up drilling rigs acquired in the Paragon transaction,
including US$4.4 million relating to amortisation of mobilisation costs.

Total depreciation and impairment of non-current assets, including amortisation
of contract backlog, was US$28.0 million for the three months ended June 30,
2018 (US$3.5 million in Q2 2017). Depreciation in Q2 2018 increased by US$18.5
million compared to Q2 2017 as a result of a larger fleet of jack-up drilling
rigs. In addition, US$6.0 million was recognised as amortisation of revenue
backlog from the Paragon acquisition.

Total general and administrative expenses were US$8.0 million for the three
months ended June 30, 2018 (US$6.3 million in Q2 2017). The increase was
primarily a result of a larger organisation and additional offices due to more
rigs in operations.

Total restructuring costs were US$5.0 million for the three months ended June
30, 2018 (US$ nil in Q2 2017). This relates to termination payments and close
-down costs linked to the Paragon acquisition. Restructuring costs going forward
are not expected to be material as the integration of the Paragon organisation
is near to being completed.

Financial income was US$17.4 million for the three months ended June 30, 2018
(US$1.1 million in Q2 2017). The financial items relate mainly to unrealised
gain on forward contracts of US$25.3 million and fair value adjustment of the
call spread resulting in loss of US$7.1 million, primarily related to one-off
cost for entering into the position. The position will be recorded at fair value
in the financial statements until maturity.
The quarter ended June 30, 2018 is the first quarter after the Paragon
acquisition where Paragon is included in the consolidated statement of
operations for the entire quarter (three days in Q1 2018). Paragon contributed
with operating revenues of US$39.2 million and rig operating and maintenance
expenses of US$34.1 million.
Six months ended June 30, 2018

Operating revenues were US$61.7 million for the six months ended June 30, 2018
(US$ nil for the six months ending June 30, 2017). This comprise revenues from
the “Frigg” and the “Norve”, which commenced operations late in December 2017
and January 2018, respectively, in addition to seven jack-up drilling rigs
acquired in the Paragon transaction, operating since March 29, 2018 and
contributing with US$ 40.3 million in operating revenue.

Gain on disposals were US$17.5 million for the six months ended June 30, 2018
(US$ nil for the six months ending June 30, 2017). The company sold 17 rigs jack
-up drilling rigs during the second quarter for total proceeds of US$35.2
million.

Total operating expenses were US$156.2 million for the six months ended June 30,
2018 (US$17.7 million for the six months ending June 30, 2017). Total operating
expenses consists of rig operating and maintenance expenses, depreciation,
amortisation, general and administrative expenses, and restructuring costs.

Total rig operating, maintenance expenses, including lay-up costs were US$74.9
million for the six months ended June 30, 2018 (US$5.5 million for the six
months ending June 30, 2017), an increase by US$69.4 million primarily driven by
operational expenses for the rigs “Frigg” and “Norve” and the operating jack-up
drilling rigs acquired in the Paragon transaction. Additionally, US$8.6 million
relates to amortisation of mobilisation costs.

Total depreciation, amortisation and impairment of non-current assets, including
amortisation of contract backlog, was US$40.2 million for the six months ended
June 30, 2018 (US$4.4 million for the six months ending June 30, 2017). The
increase of US$35.8 million is a result of a larger fleet of jack-up drilling
rigs. In addition, US$6.0 million were recognised as amortisation of revenue
backlog from the Paragon acquisition.

Total general and administrative expenses were US$18.2 million for the six
months ended June 30, 2018 (US$7.9 million for the six months ending June 30,
2017). The increase compared to the six months ending June 30, 2017 was
primarily a result of a larger organization, additional offices due to more rigs
in operations and the Paragon acquisition.

Total restructuring costs were US$22.9 million for the six months ended June 30,
2018 (US$ nil for the six months ending June 30, 2017). This relates to
termination payments and close-down costs linked to the Paragon acquisition.

Financial expense was US$2.3 million for the six months ended June 30, 2018
(Financial income of US$1.1 million for the six months ending June 30, 2017).
The financial items relate mainly to change in unrealised gain on forward
contracts of US$5.3 million and unrealised loss on the call spread of US$7.1
million.

Consolidated Balance Sheet

The Company had total assets of US$2,652.2 million as of June 30, 2018 (March
31, 2018: US$2,137.3 million). Total assets increased by US$514.9 million
compared to March 31, 2018, primarily as a result of pre-delivery instalment of
US$ 288.0 million for the acquisition of five high spec newbuild jack-up
drilling rigs from Keppel FELS and the delivery of the three newbuildings
“Grid”, “Gunnlod” and “Skald”.

As of June 30, 2018, total equity was US$1,698.3 million which corresponds to an
equity ratio of 64.0 percent compared to total equity of US$1,670.1 million
(equity ratio of 78.1 percent) on March 31, 2018.

Total liabilities as of June 30, 2018, were US$953.9 million (March 31, 2018:
US$467.2 million). The increase is mainly attributable to the issuance of US$350
million convertible bonds, US$174.0 million in long-term debt related to the
delivery financing for the two newbuildings “Grid” and “Gunnlod” and drawdown of
US$30 million under the revolving credit facility.

Consolidated Statement of Cash Flows

Three months ended June 30, 2018

Net cash flows used in operating activities were US$39.9 million for the three
months ended June 30, 2018 (US$ 1.4 million in Q1, 2017) and is explained mainly
by change in working capital and the operating loss in the period.

Net cash flows used in investing activities were US$305.8 million for the three
months ended June 30, 2018 (US$359.5 million in Q2 2017). The investment
activities primarily relate to US$288.0 million in pre-delivery instalment for
acquiring five high spec jack-up drilling rigs from Keppel FELS and the delivery
instalment of “Skald” for US$72.4 million, offset by proceeds of US$37.2 million
relating to sale of 17 jack-up drilling rigs and equipment, and decrease of
US$22.9 million in restricted cash.

Net cash flows provided by financing activities were US$348.2 million (US$ nil
in Q2 2017) during the three months ended June 30, 2018 and relates to
finalising the March 2018 Private Placement raising net proceeds of US$7.4
million (Tranche 2) and the placing of US$350 in convertible bonds resulting in
net proceeds of US$344.4 million. In addition, US$30.0 million was drawn on the
US$200.0 million bank facility.

As of June 30, 2018, the Company’s cash and cash equivalents amounted to US$54.0
million (US$193.8 million in Q2 2017). Total available free liquidity at the end
of the second quarter was US$224.0 million, including undrawn revolving credit
facility of US$170.0 million.

Outstanding shares

As of June 30, 2018, the Company has a share capital of USD 5,326,403.27,
divided into 532,640,327 shares, of which the Company owns 2,470,000 treasury
shares.

In total, the Board has approved up to 16,855,000 options to be used as a long
-term incentive program for the Company’s employees, of which 2.28 million
options remain unallocated for further awards and recruitments.

Borr Q2 2018 BoD
Report (http://mb.cision.com/Public/16983/2598997/b901cda82852737b.pdf)

Consolidated Financial Statements Q2 2018 -
Final (http://mb.cision.com/Public/16983/2598997/88c0e6036a7d55bd.pdf)

August 23, 2018
The Board of Directors
Borr Drilling Limited
Hamilton, Bermuda

Questions should be directed to:
Svend Anton Maier: Chief Executive Officer, Borr Drilling Management DMCC

  • 971 4 448 7501

Rune Magnus Lundetræ: Chief Financial Officer, Borr Drilling Management DMCC
+47 22 48 30 00

Forward looking statements
This announcement includes forward looking statements. Forward looking
statements are, typically, statements that do not reflect historical facts and
may be identified by words such as “anticipate”, “believe”, “continue”,
“estimate”, “expect”, “intends”, “may”, “should”, “will” and similar
expressions. The forward-looking statements in this announcement are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although Borr Drilling Limited believes that these assumptions are reasonable,
they are, by their nature, uncertain and subject to significant known and
unknown risks, contingencies and other factors which are difficult or impossible
to predict and which are beyond our control. Such risks, uncertainties,
contingencies and other factors could cause actual events to differ materially
from the expectations expressed or implied by the forward-looking statements
included herein.

The information, opinions and forward-looking statements contained in this
announcement speak only as of the date hereof and are subject to change without
notice."

Responsibility Statement
We confirm that, to the best of our knowledge, the interim consolidated
financial statements for the first half year of 2018, which has been prepared in
accordance with USGAAP gives a true and fair view of the Company’s consolidated
assets, liabilities, financial position and result of operations, and that the
first half 2018 report includes a fair review of the information required under
the Norwegian Securities Trading Act section 5-6 fourth paragraph.

About Borr Drilling
Borr Drilling Limited is an international drilling contractor incorporated in
Bermuda in 2016 and listed on the Oslo Stock Exchange from August 30, 2017. The
Company owns and operates jack-up drilling rigs of modern and high specification
designs and provides services focused on the shallow water segment to the
offshore oil and gas indus

Ekstern link: http://www.newsweb.no/index.jsp?messageId=457883

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180823.OBI.20180823S24


#10

Borr Drilling Limited (BDRILL) - Q2 2018 Presentation

Please find enclosed the presentation of Borr Drilling Limited’s second quarter
2018 results to be held on the webcast / conference call 23 August 2018 at 17:00
CET.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=457992

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180823.OBI.20180823S133


#11

Borr Drilling Limited (BDRILL) - Annual General Meeting 2018

Borr Drilling Limited advises that the 2018 Annual General Meeting will be held
on September 25, 2018. The record date for participating in the Annual General
Meeting is set to August 31, 2018. The notice, agenda and associated material
will be distributed prior to the meeting.

Hamilton, Bermuda

August 23, 2018

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=458002

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180823.OBI.20180823S143


#12

Financial calendar

Financial calendar for Borr Drilling Limited

FINANCIAL YEAR 2018

23.08.2018 - Half-yearly Report
21.11.2018 - Quarterly Report - Q3

25.09.2018 - Annual General Meeting

This information is published pursuant to the requirements set out in the
Continuing obligations.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=458003

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180823.OBI.20180823S144


#13

Presentasjonen fra Pareto Konferansen: http://borrdrilling.com/wp-content/uploads/2018/09/be9d381e0e3129c4.pdf


#14

Borr Drilling Limited (BDRILL) - Company Presentation

Borr Drilling Limited will today present at Pareto Securities’ 25th Oil and
Offshore Conference in Oslo, Norway. A copy of the presentation is attached to
this press release and can be found on the Company’s website.

12 September 2018

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Borr Drilling Pareto Conference
2018 (http://mb.cision.com/Public/16983/2616249/be9d381e0e3129c4.pdf)

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459180

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180912.OBI.20180912S10


#15

Notification

Midelfart Capital, company controlled by Celina Midelfart, has on 12 September
2018 bought 350,000 shares in Borr Drilling at a price of NOK35.6706/share.
Celina Midelfart is a close relation to chairman in Borr Drilling, Tor Olav
Trøim. After this transaction Midelfart Capital controls 4,992,850 shares in
Borr Drilling

This information is subject to duty of disclosure pursuant to Section 4-2 of the
Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459198

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180912.OBI.20180912S28


#16

Borr Drilling Limited (BDRILL) - Annual General Meeting 2018 Clarification

Clarification in connection with proposals to the Borr Drilling Limited’s Annual
General Meeting to be held in Bermuda 25 September 2018, agenda point 6 and 7:

Agenda point 6: Borr Drilling Limited has, some time ago, announced its
intention to seek a listing of its shares on another international recognised
exchange during the first half of next year. We foresee, but do not know for
certain, that an expansion of the board may be required by strengthening the
board with a member with strong accounting and legal background and deep
experiences from similar listing and reporting processes. Rather than having to
take the expense of calling an extraordinary general meeting for the sole
purpose of appointing an additional director, we have chosen to authorize the
board to make such an appointment. In doing this we are mindful of the fact that
such an appointment will be temporary and a confirmation of this board seat will
be confirmed in next year’s AGM.

Agenda point 7: Please note that the compensation amount referred to in the
proposed resolution is a maximum amount. It is in line with the maximum amount
of last year which was unanimously approved by the shareholders. For 2017,
Chairman Tor Olav Trøim, Fredrik Halvorsen and Patrick Schorn, who all represent
significant shareholders, did not receive any Board fees, to create full
alignment with the shareholders. Total board fees in 2017 amounted to USD250k,
which was paid all in shares to Jan Rask. Jan Rask is not a large shareholder in
the company but has significant experience through being former CEO of 3
drilling companies, which all generated superior return to the shareholders,
thus adds significant competence to the board. With the exception of the
potential new board member who will have to undertake extensive work in
connection with the listing process, we do not foresee any material changes in
the compensation to the rest of the members. We thereby expect that total
compensation to the board will be significantly lower than the maximum proposed
USD800k in the proxy statement.

19 September 2018

Hamilton, Bermuda

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459739

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180919.OBI.20180919S19


#17

Borr Drilling Limited: Potential block sale of existing shares

Oslo, 19 September 2018.

An unnamed financial investor (the “Seller”) has retained Pareto Securities AS
(the "Manager) to explore a potential block sale of existing shares in Borr
Drilling Limited (the "Company).

The Seller is contemplating selling up to its entire shareholding of
approximately 17 million shares in the Company, representing approximately 3.2%
of the Company’s outstanding shares, through an accelerated bookbuilding process
(the “Placing”).

The book building process will commence immediately following the publication of
this announcement and may be closed at short notice at the full discretion of
the Seller and/or the Manager. A further announcement will be made following
pricing of the shares in the Placing. The Seller reserves the right, at its own
discretion, to sell fewer shares or no shares at all.

The Company’s management and primary insiders will subscribe for in total
2,400,000 shares in the Placing, at NOK 35.50 per share, given that the Seller
sells its entire shareholding in the Company in the Placing:

Companies affiliated with Chairman Tor Olav Troim - 750,000 shares
Companies affiliated with Fredrik Halvorsen - 1,000,000 shares
Midelfart Capital - 150,000 shares
Svend Anton Maier - CEO in Borr Drilling Limited - 250,000 shares
Rune Magnus Lundetrae - Deputy CEO and CFO in Borr Drilling Limited - 250,000
shares

In addition, Borr Drilling Limited has recently announced its intention to buy
back USD20m of shares in a buyback program. The Company intends to utilize a
significant part of the buyback program in this transaction.

For further information, please contact:
Pareto Securities AS,
+47 22 87 87 50

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459790

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180919.OBI.20180919S70


#18

Borr Drilling Limited: Block sale of existing shares completed.

Oslo, 20 September 2018.

Reference is made to the stock exchange notice published on 19 September 2018
regarding a potential block sale of existing shares in Borr Drilling Limited
(the “Company”) by an unnamed financial investor (the “Seller”).

The Seller has sold 17,071,440 shares in the Company, representing approximately
3.2% of the Company’s outstanding shares, at NOK 35.50 per share (the
“Placing”).

Following the Placing, the Seller holds no shares in the Company.

Pareto Securities AS acted as manager and bookrunner in the Placing.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459803

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180920.OBI.20180920S7


#19

Borr Drilling Limited (BDRILL) - Mandatory notification of trades primary insiders

The following primary insiders of Borr Drilling Limited (the “Company”) has on
20 September 2018 acquired shares in the Company at an average price of NOK
35.50 per share:

Companies affiliated with Chairman Tor Olav Trøim acquired 750,000 shares. After
this transaction, Trøim and his affiliated parties will, including forward
contracts, represent an ownership in Borr Drilling Limited of 44,410,588 shares
or 8.34%.

Companies affiliated with board member of the Company Fredrik Halvorsen acquired
1,000,000 shares. After this transaction, companies affiliated with Fredrik
Halvorsen and Ubon Partners controls 18,271,100 shares in Borr Drilling Limited.

Midelfart Capital, a company controlled by Celina Midelfart, a close relation to
chairman Tor Olav Trøim, acquired 150,000 shares. After this transaction,
Midelfart Capital and other entities controlled by Celina Midelfart controls
7,285,700 shares in Borr Drilling Limited.

Svend Anton Maier, CEO in Borr Drilling Limited, acquired 250,000 shares. Svend
Anton Maier’s total exposure to the Company’s shares after the purchase (shares
and options) amounts to 3,760,000 shares.

Rune Magnus Lundetrae, Deputy CEO and CFO in Borr Drilling Limited, purchased
250,000 shares. Rune Magnus Lundetræ’s total exposure to the Company’s shares
after the purchase (shares and options) amounts to 3,260,000 shares.

20 September 2018

Hamilton, Bermuda

This information is subject to disclosure requirements pursuant to Sections 4-2
and 5-12 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459804

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180920.OBI.20180920S8


#20

Borr Drilling Limited (BDRILL) - Purchase of own shares

Borr Drilling Limited (the “Company”) has on 20 September 2018 purchased
1,500,000 of its own shares at an average price of NOK 35.50 per share. The
share purchase has been carried out in connection with a block sale by an
unnamed financial investor and is in accordance with the share repurchase
program announced by the Company on 28 August 2018.

After this transaction the Company holds 4,170,000 of its own shares in
treasury.

20 September 2018

Hamilton, Bermuda

This information is subject to disclosure requirements pursuant to Sections 4-2
and 5-12 of the Norwegian Securities Trading Act.

Ekstern link: http://www.newsweb.no/index.jsp?messageId=459807

Nyheten er levert av OBI.

http://www.netfonds.no/quotes/release.php?id=20180920.OBI.20180920S11