Borr Drilling has agreed a debt restructuring deal which will improve the liquidity of the rig operator by more than £250million for the next two years.
An Aberdeen MSP has written to a clutch of North Sea firms calling on them to reconsider their decision to terminate hundreds of staff rather than use a UK Government-backed furlough scheme.
The UK Government has extended the cut-off date for workers to be eligible for its coronavirus jobs retention scheme, expected to benefit 200,000 people.
An offshore drilling firm has been urged to reconsider its plans to make 230 North Sea employees redundant.
Work at the Dussafu Marin licence in Gabon has slowed as a result of the coronavirus outbreak.
As prices have plunged, interest in short selling of oil companies has increased.
Offshore drilling executives are trying to win back investors who have fled their stocks over the past year, insisting that a protracted recovery is gaining momentum.
Oslo-listed Borr Drilling has announced that it will be looking to add jobs once it moves into new office space, as work shifts from Dubai to Aberdeen.
Oslo-listed firm Borr Drilling has announced the sale of three jack-up rigs as it reports a widening of its losses in the first quarter of 2019.
Oslo-listed firm Borr Drilling today announced the purchase of a new jack-up drilling rig which it hopes can "generate positive income".
Tor Olav Troim, who took advantage of a brutal downturn to build Borr Drilling Ltd. from scratch into a $2.3 billion company, warned investors not to grow too enamored with the offshore drilling industry.
Dutch union Nautilus International confirmed today that Borr Drilling had announced its intention to reinstate 15 offshore and around three onshore staff, after widespread strikes by workers.
Dutch protestors and Scottish trade unions held an angry protest outside the Westhill office of Borr Drilling's newly acquired firm Paragon Offshore yesterday.
Trade unionists and workers will stage a protest in the north-east tomorrow against the redundancy plans of Paragon Offshore's new owners.
Borr Drilling said it would buy five newbuild jack-up rigs from Keppel for £550million.
Borr Drilling’s takeover of rival firm Paragon Offshore will create the “largest jack-up rig owner in the world”, an analyst has said.
Rig contractor Borr Drilling said yesterday it had struck a deal to take over rival company Paragon Offshore.
Recently established offshore drilling company Borr Drilling has been given a letter of commitment from Total E&P Nigeria for work in the country.
Borr Drilling has agreed to buy 15 drilling rigs from Swiss-based Transocean in a $1.35 billion deal.