Oslo, Norway, November 10, 2025
Commercial update:
In October 2025, the Company had 9 out of 11 rigs employed and rig utilization
was 81%.
As of November 10, 2025, approximately 82% of available rig days in November are
contracted. One of the two stacked rigs has been contracted and it is expected
to commence operations mid December. The remaining stacked rig is being actively
marketed. The contracted backlog beyond November is approximately USD 23.1
million.
Cash distribution:
The Board of Directors today approved a monthly cash distribution of
approximately USD 1.3 million based on free cash flow for October 2025. The
distribution will be made from the Company's Contributed Surplus account which
consists of previously paid in share premium transferred from the Company's
Share Premium account.
Key information:
Distribution amount: USD 0.03 per share
Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK
Date of approval: November 10, 2025
Last day including right: November 17, 2025
Ex-date: November 18, 2025
Record date: November 19, 2025
Payment date: On or about November 28, 2025
For further queries, please contact:
Marius Furuly, Director of IR and Strategy
Tel: +47 90626191
About NorAm Drilling
NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs
upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is
the largest oil producing region in North America. NorAm Drilling is debt free
and has industry leading operating margins. The Company has a full pay-out
dividend strategy, targeting frequent cash distributions in a profitable market.
www.noramdrilling.com