Borr drilling limited announces fourth quarter and twelve months 2023 results

Hamilton, bermuda , feb. 22, 2024 /prnewswire/ --borr drilling limited ("borr", "borr drilling" or the "company") announces unaudited  results for the three and twelve months ended december 31, 2023. highlights fourth quarter of 2023 total operating revenues of $220.6 million, an increase of $29.1 million or 15% compared to the third quarter of 2023 net income of $28.4 million, an increase of $28.1 million compared to the third quarter of 2023 adjusted ebitda of $105.9 million, an increase of $17.7 million or 20% compared to the third quarter of 2023 completed the refinancing of all the company's secured debt, established a $180 million rcf and completed a  private placement of new shares for gross proceeds of $50.0 million total contract revenue backlog as at december 31, 2023 of $1.75 billion, including mexico rigs  subsequent events 2024 year to date, the company has been awarded three new contract commitments, representing 495 days and $82.2 million of potential contract revenue the board declared a cash dividend of $0.05 per share for the fourth quarter to shareholders of record on march 4, 2024.
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