Borr Drilling (BDRLF) has just released its Q1 report, which comes at inopportune time, since all drillers are under major pressure due to general market sentiment, the U.S.-China trade war and the related softness in oil prices. However, the report is very interesting and deserves attention of all investors who are interested in the jack-up segment of the offshore drilling market. Without further ado, let’s look at it in more detail.
Financials
In the first quarter, Borr had revenues of $51.9 million and net loss of $56.4 million. While operating cash flow