Thanks for the write-up Currently, a long suffering holder of $BORR currently at breakeven. On the fence as to adding. Also, long suffering $RIG holder but that is finally paying off. Tor Troim has been buying like a drunken sailor. I can't help but think that is a positive sign.
Thank you for reading, Walker! Borr's liquidity is adequate and with long-dated maturities in 2032 and 2034, it's in a position where it can wait for JU market to improve. I recognize Borr is geographically diversified, but if Aramco comes back to add the 1 million bpd of capacity again, the global JU market tightens materially and equity can use that debt leverage to rally. Borr's liquidity affords them the ability to wait for that, or some other catalyst, but there's a speculative element to that. Correct me if I'm wrong, Walker, but I believe you're OK with speculative risk occasionally ;)
Thanks for the write-up Currently, a long suffering holder of $BORR currently at breakeven. On the fence as to adding. Also, long suffering $RIG holder but that is finally paying off. Tor Troim has been buying like a drunken sailor. I can't help but think that is a positive sign.
Thank you for reading, Walker! Borr's liquidity is adequate and with long-dated maturities in 2032 and 2034, it's in a position where it can wait for JU market to improve. I recognize Borr is geographically diversified, but if Aramco comes back to add the 1 million bpd of capacity again, the global JU market tightens materially and equity can use that debt leverage to rally. Borr's liquidity affords them the ability to wait for that, or some other catalyst, but there's a speculative element to that. Correct me if I'm wrong, Walker, but I believe you're OK with speculative risk occasionally ;)