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    Frederic Steen

    Research Analyst at Clarkson Securities

    Frederic Steen is an Analyst at Clarkson Securities, specializing in equity research within the offshore drilling and energy sectors. He actively covers major companies such as Borr Drilling Limited and Diamond Offshore, frequently participating in their earnings calls and providing market analysis pertinent to operational outlooks and key regional activity. Although detailed performance metrics and ranking data are not publicly available, Steen is recognized for his in-depth industry insights and regular engagement with company management teams. His precise career start date, prior experience, and professional credentials such as securities licenses or FINRA registrations are not disclosed in publicly accessible sources.

    Frederic Steen's questions to Borr Drilling (BORR) leadership

    Frederic Steen's questions to Borr Drilling (BORR) leadership • Q2 2025

    Question

    Frederic Steen from Clarkson Securities asked for the current amount of outstanding receivables from Pemex, inquired about the go-to-market strategy, particularly regarding Saudi Arabia, and questioned how the company is prioritizing utilization versus day rates for its 2026 coverage.

    Answer

    CFO Magnus Fowler stated that outstanding receivables from Mexico are approximately $60-65 million. Incoming CEO Bruno Marsan addressed the market strategy, noting that while there have been operational-level discussions with Aramco, there are no contractual talks yet, though positive news on EPCI awards is encouraging. Regarding 2026, Marsan reiterated that the strategy remains focused on optimizing asset utilization, as an idle rig significantly impacts economics, while positioning the company to capture any market upside.

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