Borr Drilling Limited is an offshore shallow-water drilling contractor incorporated in Bermuda, with its registered office at the S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM11. The company was established in 2016 and operates only jack-up rigs, which it markets for exploration, production, workover, plug and abandonment and carbon capture and storage work in water depths of up to roughly 400 feet. Bruno Morand became chief executive officer in September 2025, having previously been chief commercial officer, while Patrick Schorn moved from CEO to executive chairman; Magnus Vaaler is chief financial officer and Harvey Snowling chief operating officer.

The jack-up fleet and how it was assembled

The fleet page lists 29 rigs built between 2008 and 2024, drawn from a deliberately narrow set of designs: KFELS B, Super B and Super A classes from Keppel FELS, Pacific Class 400 units from PPL Shipyard, Friede & Goldman JU-3000N and JU-2000E units from Jurong Shipyard and the Chinese yards DSIC Dalian and Shanghai Waigaoqiao, and Gusto MSC CJ50 rigs. Rated water depths run from 350 to 400 feet. The two youngest units, Vali and Var, are KFELS Super B Bigfoot class rigs delivered in 2024, and the company states that the uniformity of the fleet improves operating and administrative efficiency. Rig names are drawn largely from Norse mythology, alongside the Arabia I, II and III units built for Middle East work and two Prospector rigs. Grouped by design, the fleet comprises:

  • KFELS Super B and Super B Bigfoot units from Keppel FELS: Hild (2020), Thor (2019), Saga and Skald (2018), Idun, Mist and Odin (2013) and the 2024-built Vali and Var.
  • KFELS B Class and Super A units: Arabia I (2020), Arabia II (2019), Arabia III and Ran (both 2013).
  • Pacific Class 400 units from PPL Shipyard: Njord (2019), Natt, Gerd, Gersemi, Grid, Groa and Gunnlod (all 2018), Galar (2017) and Norve (2011).
  • Friede & Goldman JU-3000N units from Jurong Shipyard: Freyja (2014), Forseti and Sif (2013).
  • Friede & Goldman JU-2000E units built in China: Prospector 5 (2014, Shanghai Waigaoqiao) and Prospector 1 (2013, DSIC Dalian).
  • Gusto MSC CJ50 units from Keppel FELS: Bestla and Joro, both built in 2008 and the oldest rigs in the fleet.

Individual specification sheets are published for every rig, and a fleet status report is issued to investors several times a year.

Fleet growth and portfolio changes

Borr's growth has come from buying established jack-ups rather than ordering a mixed newbuild programme. The company's own timeline records two premium jack-ups from Hercules in December 2016, nine from Transocean in May 2017, nine from PPL Shipyard in October 2017, two from Paragon in March 2018, five from Keppel FELS in May 2018 and the Hakuryu 15 in March 2019. A refinancing in the fourth quarter of 2022 removed four rigs from the fleet, and in January 2026 the company added five more premium jack-ups from Noble Drilling. The company describes itself as a pure-play jack-up operator with a diversified customer portfolio.

Where the rigs work

Operations are concentrated in the Middle East, South-East Asia, West Africa and Mexico. The company maintains country and regional offices in London, Dubai, Kuala Lumpur, Al Khobar in Saudi Arabia, Aberdeen and Villahermosa in Mexico, and it emphasises recruiting and developing local workforces in the markets where it operates. Marketing, recruitment, procurement and investor relations are handled through separate published addresses, with customer enquiries going to the marketing team and shareholder questions to the chief financial officer.

Reporting, governance and shareholder information

Borr files annual reports with the US Securities and Exchange Commission on Form 20-F, publishing its 2025 annual report on 26 March 2026, and reports quarterly through earnings releases and interim financial reports on Form 6-K. In 2026 it released first-quarter results on 21 May and second-quarter results on 11 and 12 August, issued fleet status reports in February, May and August, and presented at the Pareto Securities annual energy conference on 16 September 2026. Webcasts, investor presentations and a financial calendar are also maintained. The board is chaired by Patrick Schorn as executive chairman, with Daniel W. Rabun as lead independent director and company founder Tor Olav Trøim among the directors; PricewaterhouseCoopers is the auditor. Because the company is Bermudian, corporate governance follows Bermuda law together with the rules of the exchanges on which it is listed, and DNB Bank ASA is still shown as registrar for the Oslo Stock Exchange alongside Broadridge as transfer agent for the NYSE.

Sustainability and conduct

Borr publishes a sustainability report and commitments covering environmental and social performance, a modern slavery and human trafficking statement for the financial year ended 2025, a code of conduct issued in 2025, a UK tax strategy, and a whistleblower hotline poster. Its stated objectives combine pushing technology adoption, building a quality, health, safety and environment culture, keeping rigs deployed and holding a competitive cost structure, and the company says it works to reduce its carbon footprint and to support the ecosystems and communities around its operations.