United Rentals Inc. Stock Falls Monday, Underperforms Market

Borr Drilling Ltd

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BORR Borr Drilling Ltd

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Energy : Energy Equipment & Services | Small Cap Value
Based in Bermuda

Company profile

Borr Drilling Limited is an offshore shallow-water drilling contractor. The Company’s primary business is the ownership, contracting and operation of jack-up rigs for operations in shallow-water areas, providing drilling services to the oil and gas exploration and production industry. Its jack-up rigs are capable of drilling to a maximum well depth of approximately 35,000 feet while operating in water depths ranging from 30 to 400 feet. It operates in oil-producing geographies throughout the world, including the North Sea, Mexico, West Africa, Southeast Asia and the Middle East. It owns approximately 23 jack-up rigs, which include Skald, Groa, Idun, Thor, Norve, Gerd, Natt, Ran, Odin, Gersemi, Grid, Galar, Njord, Prospector 1, Saga, Prospector 5, Mist, Gunnlod, Frigg, Gyme, Hermod, Heimdal and Hild. The Company contract its jack-up rigs primarily on a day rate basis to drill wells for its customers, including state-owned national oil companies and independent oil and gas companies.

United Rentals Inc. Stock Falls Monday, Underperforms Market

5:26 pm ET June 13, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of United Rentals Inc. (URI) shed 5.41% to $265.06 Monday, on what proved to be an all-around poor trading session for the stock market, with the S&P 500 Index falling 3.88% to 3,749.63 and Dow Jones Industrial Average falling 2.79% to 30,516.74. This was the stock's fourth consecutive day of losses. United Rentals Inc. closed $149.93 below its 52-week high ($414.99), which the company achieved on November 8th.

The stock demonstrated a mixed performance when compared to some of its competitors Monday, as Fastenal Co. (FAST) fell 3.66% to $50.08, Oshkosh Corp. (OSK) fell 4.40% to $86.82, and Terex Corp. (TEX) fell 7.65% to $31.38. Trading volume (1.1 M) eclipsed its 50-day average volume of 791,744.

Data source: Dow Jones Market Data, FactSet. Data compiled June 13, 2022.

(END) Dow Jones Newswires

June 13, 2022 17:26 ET (21:26 GMT)