Borr Drilling lists in Oslo

Borr Drilling lists in Oslo

Borr Drilling, a Norwegian rig outfit created less than a year ago by executives formerly close to John Fredriksen, celebrates today its first day’s trading on the Oslo Bors.

Trading under the ticker code BDRILL the company is expected to have a busy first day’s trading.

“The target for the listing is to increase public awareness of the company, improve the liquidity in the trading of the shares, and prepare the Company for further growth through asset acquisitions and M&A transactions,” Borr said in a statement earlier this month.

Borr Drilling was formed by a clutch of former confidantes of John Fredriksen. Rune Magnus Lundetræ, a former CFO of Seadrill, is the CEO while Fredriksen’s former right hand man Tor Olav Troim is a key boardmember.

In June, Borr Drilling completed a deal to take the entire Transocean jackup rig fleet for $1.35m.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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