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The themes Borr Drilling is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
Highest-graded in Oil Gas Drilling
Graded A or B and worth $2B or more: A first, then the largest.
All 10 graded companies in its industry
Grade rose recently in Energy
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
CVXChevron CorpNov 5, 2026CAGraded C, now A
MPCMarathon Petroleum CorporationNov 3, 2026BAGraded B, now A
EEni SpAOct 27, 2026DBGraded D, now B
EOGEOG Resources, Inc.Nov 5, 2026BAGraded B, now A
TRPTC Energy CorporationJul 30, 2026BAGraded B, now A
How it makes money
- Jack-up rig drilling and workover services
Competes with
- NENoble CorporationF
- Size
- $7B
- Margin
- 1.8%
- 2382ADES Holding Company
What it sells2
Jack-up drilling services
A rig, its equipment and crew are supplied to drill oil and gas wells in shallow water.
Well workover services
Rig-based work on existing wells, such as maintenance or repairs.
Who buys it4
- Integrated oil companies that hire rigs for drilling and workover jobs.
- State-owned national oil companies that contract for rigs and crews.
- Independent oil and gas companies that hire rigs for specific wells or for a set term.
- Examples of customers include Eni, PTT Exploration and Production, Petrobras, PEMEX and Saudi Arabian Oil Company.
What it stands on, and what could break it
What the business leans on
- 1Demand for its rigs depends on oil and gas companies’ decisions to fund exploration and production, which are affected by oil and natural gas prices.
- 2It relies on a limited number of suppliers and service providers for labor, insurance, maintenance, shipyard work and drilling equipment.
- 3Operations depend on permits, rig certifications and compliance with environmental, safety and local-content rules in the countries where rigs work.
- 4Some work in Mexico is conducted with local joint-venture partners; the company has also reported that payment timing from PEMEX has affected it.
What could go wrong
- 1Offshore drilling demand and dayrates can fall when oil and gas companies reduce spending or when too many rigs are available.
- 2Customers may not renew, may suspend or cancel contracts, or may fail to pay on time; the company has specifically faced delays in payments from PEMEX.
- 3Drilling and marine accidents, severe weather, or equipment failures can injure people, damage rigs, interrupt operations and lead to claims or costs not covered by insurance.
About Borr Drilling Ltd
Borr Drilling owns and operates jack-up rigs: floating platforms that lower legs to the seabed and raise their hulls above the water to drill. It supplies the rig, equipment and crew for drilling and workover jobs for oil and gas companies. Customers usually hire rigs for a set period and pay a daily rate.
- Head office
- Hamilton, Bermuda
- Founded
- 2016
- Listed on
- New York Stock Exchange
- Financial year ends
- December 31
Built from Borr Drilling Ltd’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.
