Noram Drilling As · OSL:NORAM
Noram Drilling As — Q2 2025 Earnings Presentation
9 slides from Noram Drilling As's earnings presentation, Aug 26, 2025
Slide 1: Q2 2025 Presentation
Q2 2025 Presentation August 26, 2025
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: Q2 2025 Highlights
Q2 2025 Highlights Revenue • $24.9 million in Q2 vs. $25.8 million in Q1 2025 Utilization • 86.0% utilization in Q2 vs. 89.7% in Q1 2025 EBITDA • Adj. EBITDA of $5.3 million in Q2 vs. $6.7 million in Q1 2025 • Profit after tax of $3.7m Net results • Earnings per share of $0.08 Backlog • Backlog of $
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 33 consecutive monthly distributions, totaling $82.2m or NOK ~20.05 per share Monthly cash • Latest distribution of $0.03/sh implies 13.5% dividend yield p.a.(1) distributions • We intend to continue to payout excess earnings • 9 out of 11 rigs contracted Fleet status • P
Slide 5: Rig Count Decline Indicates Lower Production Ahead
Rig Count Decline Indicates Lower Production Ahead Rig Count dropping in Permian… Leading to fewer well completions… and declining oil production growth # of rigs working in Permian # of wells completed per month (3m moving average) Y/Y oil production change in Permian (3m moving average) Million ba
Slide 6: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 2Q 2025 1Q 2025 4Q 2024 3Q 2024 (All amounts in USD 1000s) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Rig utilization 86.0% 89.7% 90.6% 89.3% Total Operating Income 24,940 25,786 26,604 26
Slide 7: Balance Sheet And Cash Flow Statement
Balance Sheet And Cash Flow Statement Balance sheet Cash flow statement (All amounts in USD 1000s) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 (All amounts in USD 1000s) 2Q 2025 1Q 2025 4Q 2024 3Q 2024 Non current assets Net Profit (+)/Loss (-) before tax 3,849 5,352 1,614 1,053 Rigs and Accessories 53,865 54,9
Slide 8: NorAm Drilling - Summary
NorAm Drilling - Summary Modernized Ultra Super Spec rigs Top quality customer portfolio 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 positioned to unlock untapped oil r
Slide 9: Q&A
Q&A Please use the raise hand function to ask a question. Thanks