Brief: Borr Drilling Q3 Net Loss Narrows To $61.9 Mln

Borr Drilling

30/11/2020 07:23

Nov 30 (Reuters) - Borr Drilling Ltd  BDRILL.OL :
    * Q3 TOTAL OPERATING REVENUES OF $59.2 MILLION, NET LOSS OF $61.9 MILLION AND ADJUSTED
EBITDA OF
$(10.1) MILLION FOR Q3 OF 2020
    * Q3 2019: OPERATING REVENUE $102.7 MILLION; NET LOSS $79.2 MILLION; ADJUSTED EBITDA $13.8
MILLION
AS REPORTED ON NOV 26, 2019
    * Q3 RESULTS WERE NEGATIVELY IMPACTED BY INCREMENTAL COSTS DIRECTLY RELATED TO COVID-19,
AMOUNTING
TO $7.6 MILLION
    * ACTIVITY IN Q4 ANDH1 OF 2021 WILL CONTINUE TO BE IMPACTED BY CAPEX REDUCTIONS OUR
CUSTOMERS HAVE
HAD TO MAKE AS A RESULT OF LOWER OIL PRICE
    * CONTINUES TO FACE A VERY CHALLENGING FINANCIAL SITUATION IN THE FOURTH QUARTER AND GOING
INTO
2021
    * IS IN SPECIFIC DIALOGUE WITH ITS CREDITORS, WITH THE INTENTION TO EXTEND ITS LIQUIDITY
RUNWAY

Source text for Eikon:  ID:nWkr3Z9QWy 
Further company coverage:  BDRILL.OL 

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