Noram Drilling As · OSL:NORAM
Noram Drilling As — Q4 2024 Earnings Presentation
9 slides from Noram Drilling As's earnings presentation, Feb 20, 2025
Slide 1: Q4 2024 Presentation
Q4 2024 Presentation February 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: Q4 2024 Highlights
Q4 2024 Highlights Revenue • $26.6 million in Q4 vs. $26.5 million in Q3 Utilization • 90.6% utilization in Q4 2024 vs. 89.3% in Q3 2024 EBITDA • Adj. EBITDA of $6.6 million in Q4 2024 vs. $6.0 million in Q3 2024 Net results • Profit after tax of $19k Backlog • Backlog of $30.3 million as of Februar
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 27 consecutive monthly distributions, totaling $72.5m or NOK ~17.72 per share Monthly cash • Cash distributions have now exceeded the private placement proceeds in 2022 distributions • Latest distribution of $0.04/sh implies 15.8% dividend yield p.a.(1) • We intend to con
Slide 5: Rigs Needed To Increase Production In Permian
Rigs Needed To Increase Production In Permian Well completions continuing to drop in Permian… Leading to declining Permian oil production growth rate # of wells completed per month (3 month moving average) Y/Y oil production change in Permian, Million barrels of oil per day 600 1.2 -19% 0.8 0.4 400
Slide 6: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 4Q 2024 3Q 2024 2Q 2024 1Q 2024 (All amounts in USD 1000s) 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Rig utilization 90.6% 89.3% 85.9% 87.5% Total Operating Income 26,604 26,528 24,930 25
Slide 7: Balance Sheet And Cash Flow Statement
Balance Sheet And Cash Flow Statement Balance sheet Cash flow statement (All amounts in USD 1000s) 4Q 2024 3Q 2024 2Q 2024 1Q 2024 (All amounts in USD 1000s) 4Q 2024 3Q 2024 2Q 2024 1Q 2024 Non current assets Net Profit (+)/Loss (-) 19 700 -277 1,812 Rigs and Accessories 55,732 59,660 63,867 68,368
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