Noram Drilling AS

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NorAm Drilling AS - Fourth Quarter 2024 Results

Oslo, Norway, February 19, 2025

NorAm Drilling AS (the “Company” or “NorAm”), today reported unaudited results for the three and twelve months ended December 31, 2024:
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HIGHLIGHTS
• Reported Revenues of MUSD 26.6
• Adjusted EBITDA of MUSD 6.6
• Fleet utilization of 90.6%
• Current revenue backlog of MUSD 30.3 as of February 19, 2025

Marty L. Jimmerson, Chief Executive Officer of NorAm Drilling AS commented:
«During the fourth quarter, the Company executed well and achieved modest increases in financial performance led by improved utilization. The US and Permian rig counts were essentially flat during the fourth quarter. Market sentiment remained cautious as a result of economic and geopolitical uncertainties and E&Ps continued demonstration of operational and production discipline.

With our industry low-cost base and zero debt, we continue to return capital to shareholders despite market headwinds and this demonstrates the strength of our unique model. We paid MUSD 5.1 or NOK 1.32 per share in monthly dividends in the quarter and have declared two additional dividends after quarter end. Our rigs are among the very top performers measured in feet drilled per day in the U.S shale market, and NorAm should be well positioned in a market recovery».

In connection with the release, the Company invites to a live presentation and Q&A on Thursday, February 20, 2025, at 09:00 AM (EST) / 3:00 PM (CET). Follow the link to attend the presentation: bit.ly/NorAm-Q4-2024

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

Kilde

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NorAm Drilling AS - Fourth Quarter 2024 Results Presentation

Oslo, Norway, February 20, 2025

Please find enclosed the presentation of the fourth quarter 2024 results to be held on a live conference call today at 09:00 AM (EST) / 3:00 PM (CET).
…

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Follow the link to attend the presentation: bit.ly/NorAm-Q4-2024

Kilde

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NorAm Drilling AS – PDMR Notification Following Option Exercise

Oslo, Norway, February 28, 2025

NorAm Drilling AS (“NorAm Drilling” or the “Company”) announces that its Chief Operating Officer Thomas Taylor has on February 28, 2025 exercised 50,000 options to acquire shares in the Company.
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Due to prior cash distribution adjustments, the strike price per share option is negative NOK 8.7212. To account for the negative share price, the Company will settle the net difference in additional 12,861 shares based on its market value by applying today’s volume weighted average price of NOK 33.9053 on the Euronext Growth Oslo exchange.

Following this exercise of options, Thomas Taylor owns 196,414 shares in the Company.

Please find further details in the enclosed form.

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

Kilde

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NorAm Drilling AS - Issue of New Shares Following Option Exercise

Oslo, Norway, February 28, 2025

Further to the Company’s announcement today regarding share option exercise by a PDMR, the Company will issue 62,861 new shares, pursuant to the Board’s authorization to issue new shares as granted on the Company’s annual general meeting on 11 June 2024.
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Following the issue of the new shares, the Company’s share capital will be NOK 86,635,914 consisting of 43,317,957 shares each with a par value of NOK 2.00.

Following the exercise of options, 400,000 options remain outstanding in the Company.

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

Kilde

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NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for March 2025

Oslo, Norway, March 10, 2025

Commercial update:
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In February 2025, the Company had 10 out of 11 rigs employed and rig utilization was 90%.

As of March 10, 2025, approximately 90% of available rig days in March are contracted. The contracted backlog beyond March is approximately USD 19.7 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.7 million based on free cash flow for February 2024. 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 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK

Date of approval: March 10, 2025

Last day including right: March 13, 2025

Ex-date: March 14, 2025

Record date: March 17, 2025

Payment date: On or about March 24, 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

Kilde

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NorAm Drilling AS - Ex cash distribution USD 0.04 today

The shares in NorAm Drilling AS will be traded ex cash distribution USD 0.04 (NOK 0.427) as from today, March 14, 2025.
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Kilde

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NorAm Drilling AS – New share capital registered

Oslo, Norway, April 1, 2025

Reference is made to the announcement on February 28, 2025 by NorAm Drilling AS regarding the issuance of 62,861 new shares following share option exercises by a member of management on the same date.
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The resolution made by the Board of Directors to increase the share capital by issuance of new shares was today registered with the Norwegian Register of Business Enterprises. The new shares were issued pursuant to an authorisation to issue new shares granted to the Board of Directors on the Company’s annual general meeting on June 11, 2024.

Following this, the Company’s new share capital is NOK 86,635,914 consisting of 43,317,957 shares each with a par value of NOK 2.00.

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

Kilde

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NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for April 2025

Oslo, Norway, April 8, 2025

Commercial update:
…

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In March 2025, the Company had 10 out of 11 rigs employed and rig utilization was 91%.

As of April 8, 2025, approximately 91% of available rig days in April are contracted. We currently anticipate that one of our contracted and employed rigs will be released in early May. The contracted backlog beyond April is approximately USD 22.2 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.7 million based on free cash flow for March 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 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK

Date of approval: April 8, 2025

Last day including right: April 14, 2025

Ex-date: April 15, 2025

Record date: April 16, 2025

Payment date: On or about April 24, 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

Kilde

[TekBot]

NorAm Drilling AS - Ex cash distribution USD 0.04 today

The shares in NorAm Drilling AS will be traded ex cash distribution USD 0.04 (NOK 0.422) as from today, April 15, 2025.
…

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Kilde

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NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for May 2025

Oslo, Norway, May 8, 2025

Commercial update:
…

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In April 2025, the Company had 10 out of 11 rigs employed and rig utilization was 90%.

As of May 8, 2025, approximately 86% of available rig days in May are contracted. We currently anticipate that two of our contracted and employed rigs will be released by the end of May which would result in three of our eleven rigs being stacked. The contracted backlog beyond May is approximately USD 16.6 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.7 million based on free cash flow for April 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 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK

Date of approval: May 8, 2025

Last day including right: May 12, 2025

Ex-date: May 13, 2025

Record date: May 14, 2025

Payment date: On or about May 23, 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

Kilde

[TekBot]

NorAm Drilling AS - Ex cash distribution USD 0.04 today

The shares in NorAm Drilling AS will be traded ex cash distribution USD 0.04 (NOK 0.417) as from today, May 13, 2025.
…

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Kilde

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NorAm Drilling AS – Invitation to Q1 2025 Results Presentation

Oslo, Norway, May 19, 2025

NorAm Drilling AS will release its preliminary financial results for the first quarter of 2025 after market close on Wednesday, May 28, 2025.
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In connection with the release, the Company invites you to a live presentation and Q&A session on Friday, May 30, 2025, at 09:00 AM Eastern Standard Time (EST) / 3:00 PM Central European Time (CET).

Follow the link to attend the presentation: bit.ly/NorAm-Q1-2025.

Relevant presentation materials will be made available on the same day in the Investor Relations section of the Company’s website at www.noramdrilling.com.

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

Kilde

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Financial calendar

Financial calendar for NorAm Drilling AS

FINANCIAL YEAR 2024
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28.05.2025 - Annual Report
24.06.2025 - Annual General Meeting

FINANCIAL YEAR 2025

29.08.2025 - Half-yearly Report
29.05.2026 - Annual Report
11.06.2026 - Annual General Meeting

28.05.2025 - Quarterly Report - Q1
28.11.2025 - Quarterly Report - Q3
27.02.2026 - Quarterly Report - Q4

This information is published pursuant to the requirements set out in the Continuing obligations.

Kilde

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NorAm Drilling AS - First Quarter 2025 Results

Oslo, Norway, May 28, 2025

NorAm Drilling AS (the “Company” or “NorAm”), today reported unaudited results for the three months ended March 31, 2025:
…

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HIGHLIGHTS
• Reported Revenues of MUSD 25.8
• Adjusted EBITDA of MUSD 6.7
• Fleet utilization of 89.7%
• Current revenue backlog of MUSD 17.6

Marty L. Jimmerson, Chief Executive Officer of NorAm Drilling AS commented:

«During the first quarter, the Company continued to execute well despite Permian land rig counts declining slightly. Market sentiment remained cautious as a result of economic and geopolitical uncertainties and E&Ps continued demonstration of operational and production discipline.

With our industry low-cost base and zero debt, we continue to return capital to shareholders despite market headwinds, and this demonstrates the strength of our unique model. We paid MUSD 5.2 or NOK 1.32 per share in monthly dividends in the quarter and have declared two additional dividends after quarter end. Our rigs are among the very top performers measured in feet drilled per day in the U.S shale market, and NorAm should be well positioned in a market recovery».

In connection with the release, the Company invites you to a live presentation and Q&A session on Friday, May 30, 2025, at 09:00 AM Eastern Standard Time (EST) / 3:00 PM Central European Time (CET).

Follow the link to attend the presentation: bit.ly/NorAm-Q1-2025.

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

Kilde

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NorAm Drilling AS - Annual Report 2024

Oslo, Norway, May 28, 2025

The annual report of NorAm Drilling AS for the financial year 2024 is now published. The report is enclosed and can also be found on the investor relations sections at www.noramdrilling.com.
…

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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

Kilde

[TekBot]

NorAm Drilling AS - First Quarter 2025 Results Presentation

Oslo, Norway, May 30, 2025

Please find enclosed the presentation of the first quarter 2025 results to be held on a live conference call today at 09:00 AM (EST) / 3:00 PM (CET).
…

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Follow the link to attend the presentation: bit.ly/NorAm-Q1-2025

Kilde

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NorAm Drilling AS - Notice of Annual General Meeting 2025

Oslo, Norway, June 5, 2025

Please be advised that The Annual General Meeting of NorAm Drilling AS (the “Company” or “NorAm”) will be held at the offices of Frontline Management in Bryggegata 3 in Oslo on June 24, 2025 at 3.00 p.m. (CET).
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NorAm shareholders may participate virtually through MS Teams. Please follow the attendance instructions set forth in the AGM notice.

The AGM notice (together with appendices) and the Company’s annual report is enclosed to this press release and will be made available on the Investor Relations section of the Company’s website www.noramdrilling.com.

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

Kilde

[TekBot]

NorAm Drilling AS – Monthly rig update and key information relating to the cash distribution for June 2025

Oslo, Norway, June 10, 2025

Commercial update:
…

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In May 2025, the Company had 10 out of 11 rigs employed and rig utilization was 86%.

As of June 10, 2025, approximately 82% of available rig days in June are contracted. We currently have two rigs stacked and both are being marketed. The contracted backlog beyond June is approximately USD 11.0 million.

Cash distribution:

The Board of Directors today approved a monthly cash distribution of approximately USD 1.7 million based on free cash flow for May 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 0.04 per share

Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK

Date of approval: June 10, 2025

Last day including right: June 13, 2025

Ex-date: June 16, 2025

Record date: June 17, 2025

Payment date: On or about June 25, 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

Kilde

[TekBot]

NorAm Drilling AS - Ex cash distribution USD 0.04 today

The shares in NorAm Drilling AS will be traded ex cash distribution USD 0.04 (NOK 0.397) as from today, June 16, 2025.
…

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Kilde

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NorAm Drilling AS - Minutes from the Annual General Meeting

Oslo, Norway, June 24, 2025

Please find enclosed the minutes from the Annual General Meeting held on June 24, 2025.
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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

Kilde