01:16 PM EST, 01/31/2025 (MT Newswires) -- Borr Drilling ( BORR ) shares were up Friday after the offshore drilling contractor said late Thursday it agreed to receive a $125 million payment settlement from an unnamed major Mexican customer for outstanding receivables.

The payment, expected in the first half of February, will account for more than 75% of the outstanding receivables with this customer as of Dec. 31, 2024, the company said, adding that the collections will also include a financing fee in the mid-single digit percentage range.

Price: 3.60, Change: +0.19, Percent Change: +5.57