Borr drilling limited announces preliminary results for the third quarter of 2021

Oslo, norway, nov. 5, 2021 /prnewswire/ -- borr drilling limited ("borr", "borr drilling" or the "company") announces preliminary unaudited results for the three and nine months ended september 30, 2021. highlights third quarter of 2021 total operating revenues of $73.0 million, an increase of $18.2 million (33%) compared to the second quarter of 2021 net loss of $32.6 million, an improvement of $27.3 million compared to the second quarter of 2021 cash and cash equivalents at the end of the third quarter of 2021 was $68.9 million, an increase of $36.5 million from the end of the second quarter of 2021 adjusted ebitda of $20.0 million, an increase of $16.3 million (441%) compared to the second quarter of 2021 awarded 32 new contracts, extensions, exercised options and loa/lois year-to-date, representing 7,929 days and $668 million of potential backlog including contracts through its drilling jvs and mobilization compensation subsequent events secured new loas for the rigs "idun" and "groa" and a contract for "ran" amounting to a total of approximately 3.4 years of backlog and increasing the contracted and committed fleet to 17 rigs converted the previously announced loa/lois for the rigs "mist", "gunnlod" and "gerd" into contracts ceo, patrick schorn commented: "we are pleased with the performance in the third quarter of 2021, marking a significant milestone in the operational turnaround efforts led by our teams around the world.
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