Oslo, Norway, April 9, 2026
Commercial update:
In March 2026, the Company had 11 out of 11 rigs employed and rig utilization
was 99%.
As of April 9, 2026, 100% of available rig days in April are contracted. The
contracted backlog beyond April is approximately USD 24.8 million.
Based on our outlook for April, the Company expects to be able to increase its
next monthly distribution subject to no material adverse development in market
conditions.
Cash distribution:
The Board of Directors today approved a monthly cash distribution of
approximately USD 1.5 million based on free cash flow for March 2026. 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 0.035 per share
Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK
Date of approval: April 9, 2026
Last day including right: April 13, 2026
Ex-date: April 14, 2026
Record date: April 15, 2026
Payment date: On or about April 22, 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