Here is Why Borr Drilling (BORR) Shot Up This Week

The share price of Borr Drilling Limited (NYSE:BORR) surged by 14.29% between May 22 and May 29, 2025, putting it among the Energy Stocks that Gained the Most This Week. Let’s shed some light on the development.

Here is Why Borr Drilling (BORR) Shot Up This Week

A modern offshore drilling vessel navigating the seas with equipment mounted on its decks.

Borr Drilling Limited (NYSE:BORR) is a premier offshore shallow-water drilling contractor dedicated to providing exceptional drilling services to the global oil and gas industry.

The share price of Borr Drilling Limited (NYSE:BORR) rebounded after plunging to a 52-week low of $1.61 last week. Though the company had a tough Q1 2025, its recently announced results for the quarter revealed a healthy balance sheet and future growth potential. BORR revealed that it was awarded nine new contract commitments during the first quarter, representing approximately 1,550 days and $221 million of potential contract revenue. Moreover, the company’s operating rig count has now increased to 22, laying the foundation for stronger financial performance in the quarters ahead.

However, Borr Drilling Limited (NYSE:BORR) revealed last week that it has decided not to pay a dividend to reinforce the balance sheet and enhance long-term value creation.

While we acknowledge the potential of BORR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than BORR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.