Why These Energy Stocks Are Gaining This Week

4. Borr Drilling Limited (NYSE:BORR)

Share Price Gains Between June 5 – June 12: 20.99%

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.

Borr Drilling Limited (NYSE:BORR) continues to shoot despite posting disappointing results for its Q1 2025 last month, primarily due to reduced drilling activity. The company reported a 17.6% decrease in revenue compared to Q4 2024, while its net loss of $16.9 million was a decrease of $43.2 million compared to the net income in the previous quarter.

However, on the plus side, Borr Drilling Limited (NYSE:BORR) reported that it was awarded nine new contract commitments during Q1, representing approximately 1,550 days and $221 million of potential contract revenue. Additionally, the company’s operating rig count has now increased to 22, laying the foundation for stronger financial performance in the quarters ahead.

Another catalyst supporting Borr Drilling Limited (NYSE:BORR) could be the sharp uptick in the global crude oil price, which has surged by almost 18% over the last week at the time of writing this piece.