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
$4.60
1 Sept 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $1.04 |
| $125k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $1.78 | $4.14 |
| $130k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $2.28 | $4.74 | $7.20 |
| $135k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.03 | $2.59 | $5.15 | $7.70 | $10.26 |
| $140k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $0.07 | $2.69 | $5.35 | $8.01 | $10.66 | $13.32 |
| $145k | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $2.62 | $5.36 | $8.11 | $10.87 | $13.62 | $16.38 |
| $150k | — | — | — | — | — | — | — | — | — | — | — | — | — | $2.31 | $5.16 | $8.02 | $10.87 | $13.73 | $16.59 | $19.44 |
| $155k | — | — | — | — | — | — | — | — | — | — | — | — | $1.78 | $4.74 | $7.71 | $10.68 | $13.64 | $16.59 | $19.56 | $22.54 |
| $160k | — | — | — | — | — | — | — | — | — | — | — | $1.06 | $4.11 | $7.17 | $10.26 | $13.35 | $16.40 | $19.45 | $22.53 | $25.63 |
| $165k | — | — | — | — | — | — | — | — | — | — | $0.13 | $3.29 | $6.44 | $9.59 | $12.81 | $16.01 | $19.16 | $22.31 | $25.50 | $28.73 |
| $170k | — | — | — | — | — | — | — | — | — | — | $2.26 | $5.52 | $8.77 | $12.02 | $15.35 | $18.67 | $21.92 | $25.17 | $28.47 | $31.82 |
| $175k | — | — | — | — | — | — | — | — | — | $1.04 | $4.39 | $7.75 | $11.10 | $14.45 | $17.90 | $21.33 | $24.69 | $28.04 | $31.44 | $34.92 |
| $180k | — | — | — | — | — | — | — | — | — | $3.07 | $6.52 | $9.98 | $13.43 | $16.91 | $20.44 | $23.97 | $27.44 | $30.92 | $34.43 | $37.98 |
| $185k | — | — | — | — | — | — | — | — | $1.55 | $5.10 | $8.65 | $12.21 | $15.77 | $19.37 | $22.99 | $26.60 | $30.20 | $33.80 | $37.41 | $41.04 |
| $190k | — | — | — | — | — | — | — | — | $3.49 | $7.14 | $10.79 | $14.43 | $18.10 | $21.83 | $25.53 | $29.24 | $32.96 | $36.69 | $40.40 | $44.10 |
| $195k | — | — | — | — | — | — | — | $1.67 | $5.42 | $9.17 | $12.92 | $16.66 | $20.44 | $24.29 | $28.07 | $31.87 | $35.72 | $39.57 | $43.39 | $47.16 |
| $200k | — | — | — | — | — | — | — | $3.50 | $7.35 | $11.20 | $15.05 | $18.89 | $22.77 | $26.75 | $30.62 | $34.51 | $38.48 | $42.45 | $46.37 | $50.22 |
| $205k | — | — | — | — | — | — | $1.39 | $5.33 | $9.28 | $13.23 | $17.18 | $21.12 | $25.11 | $29.21 | $33.16 | $37.15 | $41.24 | $45.34 | $49.36 | $53.28 |
| $210k | — | — | — | — | — | — | $3.12 | $7.17 | $11.21 | $15.26 | $19.31 | $23.35 | $27.44 | $31.66 | $35.71 | $39.78 | $44.00 | $48.22 | $52.34 | $56.34 |
| $215k | — | — | — | — | — | $0.71 | $4.85 | $9.00 | $13.14 | $17.29 | $21.44 | $25.58 | $29.78 | $34.12 | $38.25 | $42.42 | $46.76 | $51.11 | $55.33 | $59.40 |
| $220k | — | — | — | — | — | $2.34 | $6.58 | $10.83 | $15.08 | $19.32 | $23.57 | $27.81 | $32.11 | $36.58 | $40.79 | $45.05 | $49.52 | $53.99 | $58.31 | $62.46 |
| $225k | — | — | — | — | — | $3.97 | $8.32 | $12.66 | $17.01 | $21.35 | $25.70 | $30.04 | $34.45 | $39.04 | $43.34 | $47.69 | $52.28 | $56.87 | $61.30 | $65.52 |
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.
Explore Nortilus Premium