Oslo, Norway, July 15, 2025
Commercial update:
In June 2025, the Company had 9 out of 11 rigs employed and rig utilization was
82%.
As of July 15, 2025, approximately 79% of available rig days in July are
contracted. We currently have two rigs stacked and both are being marketed. The
contracted backlog beyond July is approximately USD 16.9 million.
Cash distribution:
The Board of Directors today approved a monthly cash distribution of
approximately USD 1.5 million based on free cash flow for June 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 0.035 per share
Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK
Date of approval: July 15, 2025
Last day including right: July 21, 2025
Ex-date: July 22, 2025
Record date: July 23, 2025
Payment date: On or about July 30, 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