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Results included an $8 million charge related to mark-to-market treatment of Nabors warrants

New director is founding partner of a major investor in the oil services holding company

The Bermudian-based oilfield services company said the total estimated contract value is $211 million

To date in 2023, Borr has been awarded seven new contracts and six extensions to existing contracts representing 2,613 days and $376 million of potential revenue

The profit in Q2 compares with net income of $43 million in the first quarter of the year

The company said the contract is for one well plus one optional well, and is expected to commence in the second quarter of 2024

Total operating revenues in the quarter were $266 million, a 17 per cent increase over the prior quarter

Operating revenues rose, and the company sees positive prospects for continuing work for its rigs

CEO expects revenues to increase from $348 million in 2022 to about $370 million for 2023

A veteran of the industry has joined the board of Borr Drilling Limited, the Bermudian-based oilfield services company

Bermudian-based Nabors Industries has made a ninth energy transition investment

Borr Drilling has updated its guidance for 2022 and 2023