Borr drilling q4 adjusted ebitda of $1.8 million

Borr drilling limited announces preliminary results for the fourth quarter and year ended 2019.trend of increasing utilisation and higher jack-up dayrates seen in first nine months of 2019, continued into q4.q4 total operating revenues of $92.9 million.in spite of volatility seen in global oil and equity markets so far this year, growth in shallow water drilling is set to continue in 2020.. q4 net loss of $69.3 million.based on ongoing tendering activity and customer interactions, more than 40 additional rigs are required in 2020 to address planned activity.q4 adjusted ebitda of $1.8 million.q4 2018: ebitda $148.9 million; operating revenue $255.4 million; net profit $10.3 million as reported on feb 19, 2019.the adjusted ebitda for the first quarter 2020 is expected to show a solid sequential improvement over fourth quarter, mainly driven by the commencement of contracts for four additional rigs.., we expect further increases in utilisation and dayrates as the year progresses.
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