Noram Drilling As · OSL:NORAM
Noram Drilling As — Q3 2025 Earnings Presentation
9 slides from Noram Drilling As's earnings presentation, Nov 20, 2025
Slide 1: Q3 2025 Presentation
Q3 2025 Presentation November 20, 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: Q3 2025 Highlights
Q3 2025 Highlights Revenue • $23.9 million in Q3 vs. $24.9 million in Q2 2025 Utilization • 80.2% utilization in Q3 vs. 86.0% in Q2 2025 EBITDA • Adj. EBITDA of $4.3 million in Q3 vs. $5.3 million in Q2 2025 • Profit after tax of $4.0m Net results • Earnings per share of $0.09 Backlog • Backlog of $
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 36 consecutive monthly distributions, totaling $86m or NOK ~21 per share Monthly cash • Latest distribution of $0.03/sh implies 12.2% dividend yield p.a.(1) distributions • We intend to continue to payout excess earnings • 9 out of 11 rigs contracted Fleet status • One of
Slide 5: Permian Tight Oil Production Is Now In Decline
Permian Tight Oil Production Is Now In Decline Lower Rig Count… Fewer well completions… Declining oil production… # of rigs working in Permian # of wells completed per month (3m moving average) Y/Y change in Permian oil production (3m moving average) Million barrels of oil per day 400 600 -20% 1.2 -
Slide 6: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 3Q 2025 2Q 2025 1Q 2025 4Q 2024 (All amounts in USD 1000s) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 Rig utilization 80.2% 86.0% 89.7% 90.6% Total Operating Income 23,926 24,940 25,786 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) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 (All amounts in USD 1000s) 3Q 2025 2Q 2025 1Q 2025 4Q 2024 Non current assets Net Profit (+)/Loss (-) before tax 2,830 3,849 5,352 1,614 Rigs and Accessories 52,532 53,8
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