Noram Drilling As · OSL:NORAM
Noram Drilling As — Pareto Conference 2024
9 slides from Noram Drilling As's conference presentation, Sep 11, 2024
Slide 1: Pareto Conference 2024
Pareto Conference 2024 S e p t e m b e r 11 , 2 0 2 4
Slide 2: Disclaimer
Disclaimer This presentation contains forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including NorAm management's examination of historical operating trends, data contained in the Company’s records and othe
Slide 3: NorAm Drilling – A Dividend Legend In The Making
NorAm Drilling – A Dividend Legend In The Making NorAm Drilling in brief Selected customers Modernized Ultra Super Spec rigs 11 Fully upgraded with state-of-the-art walking systems and racking capacity, with a track record of drilling the longest wells in the Permian Permian focus 100% Strategically
Slide 4: What Is An Ultra Super Spec Rig?
What Is An Ultra Super Spec Rig? NorAm Drilling has a fleet of fully upgraded rigs with a track record of drilling the longest wells (25,000+ feet) in the Permian 25,000 ft racking capacity of 5.5” pipe High torque top drive *First grid transformer installed in June 2023 Crew houses Toolpusher house
Slide 5: The Permian Basin Is "The Place To Be" For Onshore Drillers
The Permian Basin Is “The Place To Be” For Onshore Drillers By far the most producing region in the US Permian sitting on the largest proved reserves(1) Oil and gas shale basin 19% of proved U.S. | Permian share of Total US Rig Count U.S. reserves 19% 60% BAKKEN ANTRIUM 50% 40% 30% 20% WOODFORD MONT
Slide 6: Strong Performance, DUCs Are Almost Run Out
Strong Performance, DUCs Are Almost Run Out Top US Land Drillers by average drill rate(1) DUC inventory almost run out = more drilling needed ahead(2) Feet/day # of wells 1,476 1,439 4,000 1,386 1,357 1,299 1,281 1,266 -75% 3,500 1,220 1,174 3,000 2,500 2,000 1,500 1,000 500 0 NorAm Ensign Nabors He
Slide 7: Permian Production Growth In Decline
Permian Production Growth In Decline Well completions continuing to drop in Permian… Leading to declining Permian oil production growth rate # of wells completed per month, Y/Y oil production change in Permian, 3-month moving average Million barrels of oil per day 600 1.2 -15% 0.8 400 0.4 0.0 200 -0
Slide 8: Positive Signs On The Horizon For 2025
Positive Signs On The Horizon For 2025 Strong backlog • $33.7m backlog beyond Sep 2024, up 55% from the previous month secured through • 10 out of 11 rigs contracted 2024 • Pursuing opportunities for the idle rig • E&Ps continues to show discipline with M&A and consolidation activities ongoing Stabl
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