Offshore research · Public access
BORR contract log
Source coverage
Apr 26 — Mar 27
Database updated 11/08/2026
Implied BORR share price
IllustrativeA 480-scenario heatmap across 10 to 29 working rigs and $110k to $225k dayrates. Each cell applies the selected P/E multiple to server-modelled EPS.
Latest close
$4.46
25 Aug 2026
P/E assumption
| Dayrate / rigs | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $110k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| $115k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| $120k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $1.22 |
| $125k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $1.96 | $4.32 |
| $130k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.19 | $2.55 | $4.96 | $7.42 |
| $135k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.39 | $2.95 | $5.44 | $7.95 | $10.51 |
| $140k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.35 | $3.05 | $5.71 | $8.32 | $10.95 | $13.61 |
| $145k | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.06 | $2.90 | $5.72 | $8.47 | $11.21 | $13.95 | $16.70 |
| $150k | — | — | — | — | — | — | — | — | — | — | — | — | — | $2.49 | $5.44 | $8.38 | $11.23 | $14.09 | $16.95 | $19.80 |
| $155k | — | — | — | — | — | — | — | — | — | — | — | — | $2.00 | $4.95 | $7.99 | $11.01 | $13.99 | $16.95 | $19.92 | $22.90 |
| $160k | — | — | — | — | — | — | — | — | — | — | — | $1.27 | $4.36 | $7.42 | $10.53 | $13.65 | $16.75 | $19.81 | $22.89 | $25.99 |
| $165k | — | — | — | — | — | — | — | — | — | — | $0.29 | $3.52 | $6.73 | $9.88 | $13.07 | $16.29 | $19.51 | $22.67 | $25.86 | $29.09 |
| $170k | — | — | — | — | — | — | — | — | — | — | $2.41 | $5.77 | $9.09 | $12.35 | $15.62 | $18.92 | $22.27 | $25.53 | $28.83 | $32.18 |
| $175k | — | — | — | — | — | — | — | — | — | $1.06 | $4.54 | $8.01 | $11.46 | $14.81 | $18.16 | $21.56 | $25.03 | $28.40 | $31.80 | $35.28 |
| $180k | — | — | — | — | — | — | — | — | — | $3.09 | $6.67 | $10.24 | $13.79 | $17.27 | $20.73 | $24.22 | $27.79 | $31.28 | $34.79 | $38.34 |
| $185k | — | — | — | — | — | — | — | — | $1.45 | $5.12 | $8.80 | $12.47 | $16.13 | $19.73 | $23.29 | $26.88 | $30.56 | $34.16 | $37.77 | $41.40 |
| $190k | — | — | — | — | — | — | — | — | $3.38 | $7.15 | $10.93 | $14.70 | $18.46 | $22.19 | $25.85 | $29.55 | $33.32 | $37.05 | $40.76 | $44.46 |
| $195k | — | — | — | — | — | — | — | $1.44 | $5.31 | $9.19 | $13.06 | $16.93 | $20.80 | $24.65 | $28.41 | $32.21 | $36.08 | $39.93 | $43.75 | $47.52 |
| $200k | — | — | — | — | — | — | — | $3.27 | $7.24 | $11.22 | $15.19 | $19.16 | $23.13 | $27.11 | $30.98 | $34.87 | $38.84 | $42.81 | $46.73 | $50.58 |
| $205k | — | — | — | — | — | — | $1.03 | $5.10 | $9.17 | $13.25 | $17.32 | $21.39 | $25.47 | $29.57 | $33.54 | $37.53 | $41.61 | $45.70 | $49.72 | $53.64 |
| $210k | — | — | — | — | — | — | $2.76 | $6.94 | $11.11 | $15.28 | $19.45 | $23.62 | $27.80 | $32.02 | $36.11 | $40.20 | $44.37 | $48.58 | $52.70 | $56.70 |
| $215k | — | — | — | — | — | $0.23 | $4.50 | $8.77 | $13.04 | $17.31 | $21.58 | $25.85 | $30.14 | $34.48 | $38.67 | $42.86 | $47.13 | $51.47 | $55.69 | $59.76 |
| $220k | — | — | — | — | — | $1.86 | $6.23 | $10.60 | $14.97 | $19.34 | $23.71 | $28.08 | $32.47 | $36.94 | $41.23 | $45.52 | $49.89 | $54.35 | $58.67 | $62.82 |
| $225k | — | — | — | — | — | $3.49 | $7.96 | $12.43 | $16.90 | $21.37 | $25.84 | $30.31 | $34.81 | $39.40 | $43.80 | $48.18 | $52.65 | $57.23 | $61.66 | $65.88 |
Reading the grid: dayrates run down the left and working rigs run across the top. A dash marks non-positive modelled EPS; deeper green marks a higher implied share price.
Model basis: server-side bilinear interpolation expands the latest BORR EPS anchors across the full grid. Low rig counts and dayrates above the source range use edge extrapolation. This is illustrative, not a price target.
Rig schedule
Monthly dayrates in USD thousands. Open months are red; contracted rates step from light to deep green across the displayed range.
Open $30k $186k
| Rig | Region | Expiry | Apr 26 | May 26 | Jun 26 | Jul 26 | Aug 26 | Sept 26 | Oct 26 | Nov 26 | Dec 26 | Jan 27 | Feb 27 | Mar 27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Arabia I | Brazil | Apr 2029 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 |
Arabia II | Middle East | Jan 2027 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | Open | Open |
Arabia III | Middle East | Sep 2028 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 |
Bestla | North Sea | Dec 2026 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 |
Forseti | Qatar | Dec 2026 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | Open | Open | Open |
Freyja | — | — | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open |
Galar | Mexico | May 2028 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 |
Gerd | West Africa | Jan 2027 | 165 | 165 | 165 | 165 | 165 | 165 | 165 | 165 | 165 | 165 | Open | Open |
Gersemi | Mexico | May 2028 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 |
Grid | West Africa | Sep 2026 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 |
Groa | — | — | 125 | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open |
Gunnlod | Asia Pacific | Jul 2026 | Open | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 | 125 | 125 |
Hild | — | — | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open |
Idun | — | — | 125 | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open | Open |
Joro | Germany | May 2026 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 |
Mist | Asia Pacific | Aug 2026 | 125 | 125 | 125 | 125 | 125 | Open | 125 | 125 | 125 | 125 | 125 | 125 |
Natt | West Africa | Feb 2027 | 125 | 125 | Open | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | Open |
Njord | Mexico | Apr 2028 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 | 117 |
Norve | West Africa | Sep 2026 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 |
Odin | USA | Apr 2027 | Open | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 |
Prospector 1 | North Sea | Jul 2026 | 135 | 135 | 135 | 135 | Open | Open | 125 | 125 | 125 | 125 | 125 | 125 |
Prospector 5 | West Africa | May 2027 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 | 125 |
Ran | Mexico | Sep 2026 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 | 125 |
Saga | Asia Pacific | Apr 2027 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 |
Sif | Suriname | Oct 2026 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 |
Skald | Asia Pacific | Nov 2026 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 |
Thor | Asia Pacific | Mar 2027 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 | 105 |
Vali | Mediterranean | Oct 2026 | 125 | 125 | 125 | 125 | 125 | 125 | 125 | Open | Open | 125 | 125 | 125 |
Contract methodology: Open periods
are source rows with a blank rate or the spreadsheet placeholders $0/$1. The green scale
recalculates from the lowest and highest contracted dayrates remaining after filters are
applied.
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