Borr drilling q3 net loss widens to usd 79.2 mln

Borr drilling limited announces results for the third quarter 2019.jack-up market tightened further in q3.strong tendering activity, improving dayrates and a strengthening market outlook for 2020.q3 total operating revenues of $102.7 million, net loss of $79.2 million and adjusted ebitda of $13.8 million for q3 of 2019 versus $1.5 million in q2 of 2019.we aim to generate around $500 million per year in gross cashflow before interest when all of our rigs are employed.q3 2018: ebitda negative $10.3 million; operating revenue $49.7 million; net loss $39.1 million as reported on nov 21, 2018.global competitive jack-up rig utilisation stood at 85% at the end of september 2019.expects strong growth in ebitda in 2020.has no plans to make further investments in third party marketable securities.
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