Borr Drilling Withstands Saudi Production Shock, Posts Strong Results Despite Stock Drop
• Borr Drilling is a global offshore shallow-water drilling contractor that owns and operates modern jack-up rigs.
• Recent decision by Saudi Aramco to halt production expansion has created uncertainty and depressed Borr's share price.
• Borr reported strong Q4 2022 results and has $1.75B in revenue backlog.
• Borr completed refinancing of 2025 debt maturities, solidifying long-term capital structure.
• Despite recent stock drop, Borr fundamentals remain strong; company appears undervalued compared to peers.