Today, Borr Drilling can sway markets

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Sign in / Join NowSummaryOn February 22, 2018, accordingto Borr Drilling, it has made a binding tender agreement to offer to purchase all outstanding shares in Paragon Offshore for $232.5 million.Borr will, following completion of the transaction, own 24 premium jack ups built after 2000 and become the world’s largest premium jack up rig operator.As more offshore drillers see that the market is slowly improving, I expect the industry to be more willing to invest using Borr Drilling unique concept as its bullish argument.Image: Prospector 1 jackup. Moored near Borkum, NetherlandsBusiness Thesis Borr Drilling (BDRILL: OL) is an aggressive newcomer to the offshore drilling industry, especially in the jackup segment. In around 14 months, Borr Drilling has gone from a state of non existence to owning 58 jackups soon (including Paragon Offshore fleet).Borr Drilling has raised money surprisingly fast and secured conservative amounts of debt financing.Today, Borr Drilling can sway markets.

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