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In December 2025, the Company had 10 out of 11 rigs employed and rig utilization was 87%.
As of January 12, 2026, approximately 89% of available rig days in January are contracted. We expect one of our current contracted rigs to be released in late January. As of the end of January, we expect to have 9 of our 11 rigs under contract and working. The contracted backlog beyond January is approximately USD 16.6 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 December 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: January 12, 2026
Last day including right: January 15, 2026
Ex-date: January 16, 2026
Record date: January 19, 2026
Payment date: On or about January 26, 2026
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
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