2024-03-15 05:07:23 ET
Summary
- Borr Drilling benefits from strong demand for shallow-water drilling and a constrained supply of jackup rigs.
- The recent sell-off triggered by Saudi Aramco's announcement does not change the fundamentals of the jackup market.
- BORR's stable business model and increasing dayrates position it for significant earnings growth and potential high dividend yields in the future.
- I estimate a forward dividend yield of approximately 20% for 2025 and potentially nearing 30% for 2026.
Introduction
In a previous article , I discussed Borr Drilling ( BORR ), an intriguing company that owns and operates jackup drilling rigs for shallow-water operations. I emphasized the robust fundamentals of the jackup market and how Borr Drilling stands to benefit from the ongoing bull market....
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Borr Drilling: Fundamentals Remain Strong