Borr Drilling Limited (NYSE: BORR) director Tor Olav Troim purchased approximately 150,000 shares of the offshore drilling contractor on September 17, 2026.
The transaction was executed at a weighted average price of $4.38 per share, bringing the total value of the purchase to $657,000.
The buy price sits just above the September 17 market close of $4.36, signaling a deliberate commitment to increasing exposure at current price levels.
The shares were acquired indirectly through Drew Holdings Ltd., a company wholly owned by Drew Trust, a non-discretionary vehicle in which Troim serves as beneficiary.
Following the transaction, Troim holds approximately 30.5 million shares indirectly and 81,867 shares directly, for a combined post-transaction value of roughly $133.49 million.
Troim also holds 54,545 restricted stock units scheduled to vest in full on September 30, 2026, contingent on continued board service through that date.
The purchase comes after a 43% one-year return for BORR stock as of the transaction date, suggesting the director sees further upside ahead for the shallow-water drilling specialist.
Borr Drilling recently closed a deal to expand its fleet to 34 rigs and agreed to divest its 51% interest in two oil-drilling joint ventures to its partner in Mexico, transferring management of three jack-up rigs to the local partner operating with state oil company PEMEX.
The company retains ownership of the three rigs and continues participating in the underlying contracts, a structure management says improves operational efficiency as shallow-water drilling demand grows in the region.
Management also announced new drilling contracts for rigs operating in Vietnam and off the coast of Texas, adding further momentum to the company’s near-term revenue outlook.
Borr carries a market capitalization of $1.3 billion and posted trailing twelve-month revenues of $1.0 billion, though the business recorded a net loss of $240.6 million over the same period.
Full-year 2026 sales are expected to inch up to approximately $1.05 billion, a 3% rise, with the net loss expected to be around $50 million due to customer delays and higher operating expenses.
The company’s existing fleet is locked into long-term leases, meaning it is unlikely to immediately benefit from higher oil prices resulting from the Iran war for perhaps another year.
Troim has served as a director since the company’s incorporation, including stints as Chairman of the Board from August 2017 to September 2019 and again from February 2022 to September 2025.
As a classic insider buy in an open-market transaction, the move carries a simple but powerful message: insiders buy shares for one reason only, and that is because they believe the price is going up.
