{"success":true,"data":{"pressRelease":{"id":"41452","rtpr_id":"nPn5W6yqxa","ticker":"BORR","exchange":"NYSE","all_tickers":["BORR"],"title":"Borr Drilling Limited Announces First Quarter 2026 Results","author":"PR Newswire","published_at":"2026-05-21T02:58:51.955Z","article_body":"Borr Drilling Limited Announces First Quarter 2026 Results\n\nPR Newswire\n\nHAMILTON, Bermuda, May 20, 2026\n\nHAMILTON, Bermuda, May 20, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE:\nBORR) (\"Borr\", \"Borr Drilling\" or the \"Company\") announces unaudited results\nfor the three months ended March 31, 2026.\n\nHighlights\n\n * First Quarter total operating revenues of $247.0 million, a decrease of $12.4\nmillion or 5% compared to the fourth quarter of 2025\n * First Quarter net loss of $29.0 million compared to net loss of $1.0 million\nin the fourth quarter of 2025\n * First Quarter Adjusted EBITDA of $88.5 million, a decrease of $16.7 million or\n16% compared to the fourth quarter of 2025\n * Completed the acquisition of five premium jack-up rigs from Noble Corporation\nin January 2026 for a total purchase price of $360 million\n * Entered into agreements to acquire five premium jack-up rigs via new 50/50\njoint venture for a total purchase price of $287 million\n * Subsequent to quarter-end, completed an offering of $300 million aggregate\nprincipal amount of senior unsecured convertible notes due 2033, with proceeds\nprimarily used to repurchase existing convertible bonds due 2028\n * Year-to-date 2026, the Company has been awarded 13 contract commitments,\nrepresenting more than 2,250 days and $274 million of Dayrate Equivalent\nBacklog. In addition, the Company recognized contract commitments of a further\n772 days upon completing its acquisition from Noble Corporation.\nChief Executive Officer Bruno Morand commented:\n\n\"Our operational performance in the first quarter of 2026 resulted in\ntechnical utilization of 99.4% and economic utilization of 97.0%. Revenue for\nthe period was $247.0 million, while first-quarter Adjusted EBITDA was $88.5\nmillion, primarily impacted by the late contract start-up of the Odin, in\naddition to a credit loss provision of $8.4 million.\n\nIn the quarter, the Odin completed its mobilization from Mexico to the U.S.\nGulf where operations were expected to start in February. However, start-up\nwas delayed by additional contract preparation work and regulatory approvals.\nLooking ahead, we expect second quarter results to continue to be affected by\nthe delayed start-up of the Odin, now anticipated to commence late June, as\nwell as rigs transitioning between contracts.\n\nOur contracting strategy continues to focus on covering near-term uncontracted\ndays, balancing dayrates with contract tenor. Since our last earnings report,\nwe have secured eight contract commitments, representing over 1,100 days of\nadditional firm work. Our full-year 2026 contract coverage increased to 71% at\nan average dayrate of approximately $137,000 and coverage in the second half\nof the year now stands at 65%, as compared to 48% in our prior earnings\nreport.\n\nIn the first quarter, we entered into an agreement for the acquisition of five\npremium jack-up rigs through a new joint venture in Mexico with an attractive\nvaluation and financing structure. Upon closing, our fleet will in effect\nexpand to 34 modern rigs. In April, we strengthened our capital structure\nthrough a $300 million convertible note offering, used to largely repurchase\nour existing 2028 convertible bonds. This transaction extended our maturity\nprofile, lowered our financing cost, and increased the conversion price.\n\nWhile the Middle East conflict has created near-term uncertainty, key tenders\nin the region continue to progress, with some modest delays. More broadly, in\nour view, recent events have strengthened the longer-term outlook for the\nsector providing for a higher oil price and a renewed focus on energy\nsecurity. Shallow-water basins continue to represent an attractive resource,\noffering low-cost, short-cycle barrels that enable our customers to respond\nrapidly to the market backdrop. Due to the planning and budgeting processes of\nour customers, we expect that improved activity and dayrates will lag the oil\nprice development by 6 to 12 months, as evidenced after the military invasion\nof Ukraine, when dayrates strongly increased. Therefore, we are increasingly\nconfident about the Company's prospects for 2027 and 2028 as we expect the\ndisruptions from the conflict in the Middle East to be both substantial and\nlong lasting. With this backdrop, Borr Drilling's expanded fleet is well\nplaced to support our customers' demand and deliver long-term shareholder\nvalue as the cycle develops.\"\n\nConference Call\n\nA conference call and webcast are scheduled for 09:00 New York time (15:00\nCEST) on Thursday, May 21, 2026.\n\nIn order to listen to the live presentation, participants may do one of the\nfollowing:\n\na) Webcast\n\nTo access the webcast, please go to the following link:\nhttps://edge.media-server.com/mmc/p/inc8qdus\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=1664032266&u=https%3A%2F%2Feur01.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fedge.media-server.com%252Fmmc%252Fp%252Fwni7iw8s%26data%3D05%257C02%257C%257C6da8a066e59c4c66f7e608de9bc32849%257C31ebe7bb76d14291a07240618335a20b%257C0%257C0%257C639119459693996247%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata%3DsraIgTpeaLuK4lqD4VkfKONd5312Efcro52l3U3CtsU%253D%26reserved%3D0&a=https%3A%2F%2Fedge.media-server.com%2Fmmc%2Fp%2Finc8qdus)\n\nb) Conference Call\n\nPlease use the below link to register for the conference call:\nhttps://register-conf.media-server.com/register/BIce9fcdcdcdf44d4d947622b4da3afbd6\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=111547031&u=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBId104b5d42c2d4a1d89c81ef46cc7e36e&a=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBIce9fcdcdcdf44d4d947622b4da3afbd6)\n\nParticipants will then receive dial-in details on screen and via email and may\nchoose to dial in with their unique pin or select \"Call me\" and provide\ntelephone details for the system to link them automatically.\n\nParticipants are encouraged to dial in 10 minutes before the start of the\ncall.\n\nQuestions should be directed to: Magnus Vaaler, CFO, +44 1224 289208\n\nThis information was brought to you by Cision http://news.cision.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=336098738&u=http%3A%2F%2Fnews.cision.com%2F&a=http%3A%2F%2Fnews.cision.com)\n\nhttps://news.cision.com/borr-drilling-limited/r/borr-drilling-limited-announces-first-quarter-2026-results,c4351300\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=372264451&u=https%3A%2F%2Fnews.cision.com%2Fborr-drilling-limited%2Fr%2Fborr-drilling-limited-announces-first-quarter-2026-results%2Cc4351300&a=https%3A%2F%2Fnews.cision.com%2Fborr-drilling-limited%2Fr%2Fborr-drilling-limited-announces-first-quarter-2026-results%2Cc4351300)\n\nThe following files are available for download:\n https://mb.cision.com/Public/16983/4351300/914f52090f5316ae.pdf                                                                                                                                                                                              Borr Drilling Limited Q1 2026 Earnings Release\n (https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=739070096&u=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2F914f52090f5316ae.pdf&a=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2F914f52090f5316ae.pdf)\n https://mb.cision.com/Public/16983/4351300/bf191e118727a116.pdf                                                                                                                                                                                              Borr Drilling Limited Q1 2026 Fleet Status Report\n (https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=531475164&u=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2Fbf191e118727a116.pdf&a=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2Fbf191e118727a116.pdf)\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html\n(https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html)\n\nSOURCE Borr Drilling Limited\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn5W6yqxa","title":"Borr Drilling Limited Announces First Quarter 2026 Results","author":"PR Newswire","ticker":"BORR","created":"2026-05-21T02:58:51.955Z","tickers":["BORR"],"exchange":"NYSE","article_body":"Borr Drilling Limited Announces First Quarter 2026 Results\n\nPR Newswire\n\nHAMILTON, Bermuda, May 20, 2026\n\nHAMILTON, Bermuda, May 20, 2026 /PRNewswire/ -- Borr Drilling Limited (NYSE:\nBORR) (\"Borr\", \"Borr Drilling\" or the \"Company\") announces unaudited results\nfor the three months ended March 31, 2026.\n\nHighlights\n\n * First Quarter total operating revenues of $247.0 million, a decrease of $12.4\nmillion or 5% compared to the fourth quarter of 2025\n * First Quarter net loss of $29.0 million compared to net loss of $1.0 million\nin the fourth quarter of 2025\n * First Quarter Adjusted EBITDA of $88.5 million, a decrease of $16.7 million or\n16% compared to the fourth quarter of 2025\n * Completed the acquisition of five premium jack-up rigs from Noble Corporation\nin January 2026 for a total purchase price of $360 million\n * Entered into agreements to acquire five premium jack-up rigs via new 50/50\njoint venture for a total purchase price of $287 million\n * Subsequent to quarter-end, completed an offering of $300 million aggregate\nprincipal amount of senior unsecured convertible notes due 2033, with proceeds\nprimarily used to repurchase existing convertible bonds due 2028\n * Year-to-date 2026, the Company has been awarded 13 contract commitments,\nrepresenting more than 2,250 days and $274 million of Dayrate Equivalent\nBacklog. In addition, the Company recognized contract commitments of a further\n772 days upon completing its acquisition from Noble Corporation.\nChief Executive Officer Bruno Morand commented:\n\n\"Our operational performance in the first quarter of 2026 resulted in\ntechnical utilization of 99.4% and economic utilization of 97.0%. Revenue for\nthe period was $247.0 million, while first-quarter Adjusted EBITDA was $88.5\nmillion, primarily impacted by the late contract start-up of the Odin, in\naddition to a credit loss provision of $8.4 million.\n\nIn the quarter, the Odin completed its mobilization from Mexico to the U.S.\nGulf where operations were expected to start in February. However, start-up\nwas delayed by additional contract preparation work and regulatory approvals.\nLooking ahead, we expect second quarter results to continue to be affected by\nthe delayed start-up of the Odin, now anticipated to commence late June, as\nwell as rigs transitioning between contracts.\n\nOur contracting strategy continues to focus on covering near-term uncontracted\ndays, balancing dayrates with contract tenor. Since our last earnings report,\nwe have secured eight contract commitments, representing over 1,100 days of\nadditional firm work. Our full-year 2026 contract coverage increased to 71% at\nan average dayrate of approximately $137,000 and coverage in the second half\nof the year now stands at 65%, as compared to 48% in our prior earnings\nreport.\n\nIn the first quarter, we entered into an agreement for the acquisition of five\npremium jack-up rigs through a new joint venture in Mexico with an attractive\nvaluation and financing structure. Upon closing, our fleet will in effect\nexpand to 34 modern rigs. In April, we strengthened our capital structure\nthrough a $300 million convertible note offering, used to largely repurchase\nour existing 2028 convertible bonds. This transaction extended our maturity\nprofile, lowered our financing cost, and increased the conversion price.\n\nWhile the Middle East conflict has created near-term uncertainty, key tenders\nin the region continue to progress, with some modest delays. More broadly, in\nour view, recent events have strengthened the longer-term outlook for the\nsector providing for a higher oil price and a renewed focus on energy\nsecurity. Shallow-water basins continue to represent an attractive resource,\noffering low-cost, short-cycle barrels that enable our customers to respond\nrapidly to the market backdrop. Due to the planning and budgeting processes of\nour customers, we expect that improved activity and dayrates will lag the oil\nprice development by 6 to 12 months, as evidenced after the military invasion\nof Ukraine, when dayrates strongly increased. Therefore, we are increasingly\nconfident about the Company's prospects for 2027 and 2028 as we expect the\ndisruptions from the conflict in the Middle East to be both substantial and\nlong lasting. With this backdrop, Borr Drilling's expanded fleet is well\nplaced to support our customers' demand and deliver long-term shareholder\nvalue as the cycle develops.\"\n\nConference Call\n\nA conference call and webcast are scheduled for 09:00 New York time (15:00\nCEST) on Thursday, May 21, 2026.\n\nIn order to listen to the live presentation, participants may do one of the\nfollowing:\n\na) Webcast\n\nTo access the webcast, please go to the following link:\nhttps://edge.media-server.com/mmc/p/inc8qdus\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=1664032266&u=https%3A%2F%2Feur01.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fedge.media-server.com%252Fmmc%252Fp%252Fwni7iw8s%26data%3D05%257C02%257C%257C6da8a066e59c4c66f7e608de9bc32849%257C31ebe7bb76d14291a07240618335a20b%257C0%257C0%257C639119459693996247%257CUnknown%257CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%253D%253D%257C0%257C%257C%257C%26sdata%3DsraIgTpeaLuK4lqD4VkfKONd5312Efcro52l3U3CtsU%253D%26reserved%3D0&a=https%3A%2F%2Fedge.media-server.com%2Fmmc%2Fp%2Finc8qdus)\n\nb) Conference Call\n\nPlease use the below link to register for the conference call:\nhttps://register-conf.media-server.com/register/BIce9fcdcdcdf44d4d947622b4da3afbd6\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=111547031&u=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBId104b5d42c2d4a1d89c81ef46cc7e36e&a=https%3A%2F%2Fregister-conf.media-server.com%2Fregister%2FBIce9fcdcdcdf44d4d947622b4da3afbd6)\n\nParticipants will then receive dial-in details on screen and via email and may\nchoose to dial in with their unique pin or select \"Call me\" and provide\ntelephone details for the system to link them automatically.\n\nParticipants are encouraged to dial in 10 minutes before the start of the\ncall.\n\nQuestions should be directed to: Magnus Vaaler, CFO, +44 1224 289208\n\nThis information was brought to you by Cision http://news.cision.com\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=336098738&u=http%3A%2F%2Fnews.cision.com%2F&a=http%3A%2F%2Fnews.cision.com)\n\nhttps://news.cision.com/borr-drilling-limited/r/borr-drilling-limited-announces-first-quarter-2026-results,c4351300\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=372264451&u=https%3A%2F%2Fnews.cision.com%2Fborr-drilling-limited%2Fr%2Fborr-drilling-limited-announces-first-quarter-2026-results%2Cc4351300&a=https%3A%2F%2Fnews.cision.com%2Fborr-drilling-limited%2Fr%2Fborr-drilling-limited-announces-first-quarter-2026-results%2Cc4351300)\n\nThe following files are available for download:\n https://mb.cision.com/Public/16983/4351300/914f52090f5316ae.pdf                                                                                                                                                                                              Borr Drilling Limited Q1 2026 Earnings Release\n (https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=739070096&u=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2F914f52090f5316ae.pdf&a=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2F914f52090f5316ae.pdf)\n https://mb.cision.com/Public/16983/4351300/bf191e118727a116.pdf                                                                                                                                                                                              Borr Drilling Limited Q1 2026 Fleet Status Report\n (https://edge.prnewswire.com/c/link/?t=0&l=en&o=4693862-1&h=531475164&u=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2Fbf191e118727a116.pdf&a=https%3A%2F%2Fmb.cision.com%2FPublic%2F16983%2F4351300%2Fbf191e118727a116.pdf)\n\n \n\nView original\ncontent:https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html\n(https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html)\n\nSOURCE Borr Drilling Limited\n\n\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-21T02:58:51.97167995Z","server_sent_at_ms":1779332331971},"received_at":"2026-05-21T02:58:52.027Z","source_url":"https://www.prnewswire.com/news-releases/borr-drilling-limited-announces-first-quarter-2026-results-302778425.html"},"analysis":{"id":"30891","press_release_id":"41452","analysis_json":{"industry":{"label":"Oil, Gas & Consumable Fuels","sector":"Energy"},"redFlags":["Net loss widened significantly from $1M to $29M QoQ","Adjusted EBITDA declined 16% QoQ","Operational delay on Odin rig pushed start-up to late June","$8.4 million credit loss provision indicates counterparty risk"],"eventType":"earnings","narrative":"Borr Drilling reported Q1 2026 revenue of $247 million, down 5% sequentially, with a net loss widening to $29 million from $1 million in Q4 due to a delayed start-up of the Odin rig and an $8.4 million credit loss provision.\n\nAdjusted EBITDA fell 16% to $88.5 million, though technical utilization remained robust at 99.4%. The company highlighted strong contracting momentum, securing 13 commitments year-to-date representing over 2,250 days and $274 million in backlog.\n\nStrategically, Borr expanded its effective fleet to 34 modern rigs through the $360 million acquisition of five rigs from Noble Corporation and a $287 million joint venture deal. It also issued $300 million in convertible notes to repurchase existing debt, extending its maturity profile and lowering financing costs.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Borr Q1: Near-term earnings hit by Odin delay and credit provision, but strong contract coverage (71%) and fleet expansion via Noble acquisition support long-term thesis."},"keyFigures":{"eps":0,"epsBeat":0,"revenue":247000000,"drugName":"","guidance":"Full-year 2026 contract coverage 71% at avg dayrate ~$137,000; H2 coverage 65% (up from 48%)","revenueYoy":0,"phaseOfTrial":"","offeringPrice":0,"sharesOffered":0,"customDimensions":{"adjusted_ebitda":88500000,"contract_days_ytd":2250,"economic_utilization":"97.0%","fleet_size_effective":34,"jv_acquisition_price":287000000,"credit_loss_provision":8400000,"technical_utilization":"99.4%","noble_acquisition_price":360000000,"convertible_notes_offering":300000000,"dayrate_equivalent_backlog":274000000}},"quotedText":"Our operational performance in the first quarter of 2026 resulted in technical utilization of 99.4% and economic utilization of 97.0%. Revenue for the period was $247.0 million, while first-quarter Adjusted EBITDA was $88.5 million, primarily impacted by the late contract start-up of the Odin, in addition to a credit loss provision of $8.4 million.","namedEntities":{"people":[{"name":"Bruno Morand","role":"CEO"},{"name":"Magnus Vaaler","role":"CFO"}],"products":["Odin","jack-up rigs"],"companies":[{"name":"Borr Drilling Limited","ticker":"BORR","relationship":"filer"},{"name":"Noble Corporation","ticker":"NE","relationship":"seller/acquired asset source"}],"dollarAmounts":[{"amount":"$247.0 million","context":"Q1 2026 total operating revenues"},{"amount":"$12.4 million","context":"revenue decrease vs Q4 2025"},{"amount":"$29.0 million","context":"Q1 2026 net loss"},{"amount":"$1.0 million","context":"Q4 2025 net loss"},{"amount":"$88.5 million","context":"Q1 2026 Adjusted EBITDA"},{"amount":"$16.7 million","context":"Adjusted EBITDA decrease vs Q4 2025"},{"amount":"$360 million","context":"purchase price for five rigs from Noble Corporation"},{"amount":"$287 million","context":"purchase price for five rigs via new joint venture"},{"amount":"$300 million","context":"aggregate principal amount of senior unsecured convertible notes due 2033"},{"amount":"$8.4 million","context":"credit loss provision"},{"amount":"$274 million","context":"Dayrate Equivalent Backlog from YTD contract commitments"},{"amount":"$137,000","context":"average dayrate for full-year 2026 contract coverage"}]},"materialImpact":{"score":4,"reasoning":"Q1 results show a significant widening of net loss ($29M vs $1M) and a 16% drop in Adjusted EBITDA due to operational delays (Odin rig) and credit provisions. However, this is offset by strong contract momentum (71% full-year coverage), high utilization (99.4%), and strategic M&A (Noble acquisition + new JV) that expands the fleet to 34 rigs. The mixed nature stems from near-term earnings pressure vs. long-term growth positioning."},"tickerRelevance":{"others":[{"ticker":"NE","relevance":"seller of acquired assets"}],"primary":"BORR"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":["m_and_a","debt_offering"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings + M&A + debt issuance","sectorWeight":"high (energy/oil services)","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"event_type":"earnings","event_type_secondary":["m_and_a","debt_offering"],"sentiment":"mixed","material_impact_score":4,"narrative":"Borr Drilling reported Q1 2026 revenue of $247 million, down 5% sequentially, with a net loss widening to $29 million from $1 million in Q4 due to a delayed start-up of the Odin rig and an $8.4 million credit loss provision.\n\nAdjusted EBITDA fell 16% to $88.5 million, though technical utilization remained robust at 99.4%. The company highlighted strong contracting momentum, securing 13 commitments year-to-date representing over 2,250 days and $274 million in backlog.\n\nStrategically, Borr expanded its effective fleet to 34 modern rigs through the $360 million acquisition of five rigs from Noble Corporation and a $287 million joint venture deal. It also issued $300 million in convertible notes to repurchase existing debt, extending its maturity profile and lowering financing costs.","key_figures":{"eps":0,"epsBeat":0,"revenue":247000000,"drugName":"","guidance":"Full-year 2026 contract coverage 71% at avg dayrate ~$137,000; H2 coverage 65% (up from 48%)","revenueYoy":0,"phaseOfTrial":"","offeringPrice":0,"sharesOffered":0,"customDimensions":{"adjusted_ebitda":88500000,"contract_days_ytd":2250,"economic_utilization":"97.0%","fleet_size_effective":34,"jv_acquisition_price":287000000,"credit_loss_provision":8400000,"technical_utilization":"99.4%","noble_acquisition_price":360000000,"convertible_notes_offering":300000000,"dayrate_equivalent_backlog":274000000}},"named_entities":{"people":[{"name":"Bruno Morand","role":"CEO"},{"name":"Magnus Vaaler","role":"CFO"}],"products":["Odin","jack-up rigs"],"companies":[{"name":"Borr Drilling Limited","ticker":"BORR","relationship":"filer"},{"name":"Noble Corporation","ticker":"NE","relationship":"seller/acquired asset source"}],"dollarAmounts":[{"amount":"$247.0 million","context":"Q1 2026 total operating revenues"},{"amount":"$12.4 million","context":"revenue decrease vs Q4 2025"},{"amount":"$29.0 million","context":"Q1 2026 net loss"},{"amount":"$1.0 million","context":"Q4 2025 net loss"},{"amount":"$88.5 million","context":"Q1 2026 Adjusted EBITDA"},{"amount":"$16.7 million","context":"Adjusted EBITDA decrease vs Q4 2025"},{"amount":"$360 million","context":"purchase price for five rigs from Noble Corporation"},{"amount":"$287 million","context":"purchase price for five rigs via new joint venture"},{"amount":"$300 million","context":"aggregate principal amount of senior unsecured convertible notes due 2033"},{"amount":"$8.4 million","context":"credit loss provision"},{"amount":"$274 million","context":"Dayrate Equivalent Backlog from YTD contract commitments"},{"amount":"$137,000","context":"average dayrate for full-year 2026 contract coverage"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-21T02:59:14.750Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings + M&A + debt issuance","sectorWeight":"high (energy/oil services)","householdBrandBoost":"low","marketCapAdjustment":"neutral","retailFavoriteBoost":"low"}},"durationMs":22685,"modelName":"george-droid-qwen-72b"}}