Earnings in the third quarter announced Nov. 8 were a new record for the company, reaching $462.3 million. That’s an increase of 48% from a year ago. The company says it has $250 million of cash and cash equivalents on hand and total cash and investments of $2.05 billion. It also declared a dividend of $1 per share. Now, the trend has shifted to natural gas as the growth driver for the oil and gas industry. Europe remains central to global LNG trade, taking 55% of US LNG exports in 2024, per LSEG data. As seen last December, 69% of US LNG shipments (5.84 MT) went to Europe, up from November’s 5.09 MT, driven by winter needs and limited Russian supply. As trade tensions add complications, China’s 15% tariff on US LNG threatens new deals despite existing contracts. Traders following Borr stock forecast note RSI levels approaching overbought territory, suggesting a possible pullback before another upward leg. The macro driver remains global oil production growth.
