Why Borr Drilling Shares Are Trading Higher Today

Borr Drilling BORR shares are trading higher on Monday after the company was awarded a $123 million contract. 

Borr Drilling’s premium jack-up rig "Hild" was awarded a contract for work in Latin America from an undisclosed customer. The contract is expected to start in the third quarter of 2023, after the rig's ongoing activation, and covers a firm term of 725 days. 

Borr Drilling deliver high quality drilling operations in hydrocarbon basins around the world.

BORR Price Action: Borr Drilling has a 52-week high of 8.13 and a 52-week low of $2.46.

Borr Drilling shares are up 10.6% at $7.90 at the time of writing, according to Benzinga Pro.