Borr Drilling Shares Jump 19.8% On $360 Million Five-Rig Acquisition
Shares of Borr Drilling jumped 19.8% from February 2 to 9 after completing a $360 million acquisition of five premium jack-up rigs from Noble, expanding its fleet to 29 rigs. The stock has climbed over 40% since early 2025, driven by strong demand for near-term offshore drilling capacity.
1. Stock Performance Surge
Borr Drilling’s share price surged 19.83% between February 2 and 9, marking one of the largest weekly gains among energy peers. The rally builds on a more than 40% increase since the start of 2025, reflecting growing investor confidence in the offshore drilling market.
2. Rig Acquisition Details
On January 28, Borr Drilling completed the purchase of five premium jack-up rigs from Noble Corporation for $360 million. The rigs are immediately compatible with Borr’s operational standards and ready to be deployed in key shallow-water basins.
3. Fleet Expansion and Outlook
With the acquisition, Borr’s jack-up fleet now totals 29 rigs, enhancing its capacity to secure near-term contracts across major global basins. Management expects the expanded fleet to deepen customer relationships and drive long-term shareholder value through improved utilization and contract coverage.