Noram Drilling As · OSL:NORAM
Noram Drilling As — Q4 2025 Earnings Presentation
8 slides from Noram Drilling As's earnings presentation, Feb 20, 2026
Slide 1: Q4 2025 Presentation
Q4 2025 Presentation February 20, 2026
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 2025 Highlights
Q4 2025 Highlights Revenue • $26.5 million in Q4 vs. $23.9 million in Q3 2025 Utilization • 82.6% utilization in Q4 vs. 80.2% in Q3 2025 EBITDA • Adj. EBITDA of $3.8 million in Q4 vs. $4.3 million in Q3 2025 • Profit after tax of $2.0m Net results • Earnings per share of $0.05 Backlog • Backlog of $
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 39 consecutive monthly distributions, totaling $90m or NOK ~22 per share Monthly cash • Latest distribution of $0.03/sh implies 8.9% dividend yield p.a.(1) distributions • We intend to continue to payout excess earnings • 9 out of 11 rigs working Fleet status • The two id
Slide 5: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 4Q 2025 3Q 2025 2Q 2025 1Q 2025 (All amounts in USD 1000s) 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Rig utilization 82.6% 80.2% 86.0% 89.7% Total Operating Income 26,473 23,926 24,940 25
Slide 6: Balance Sheet And Cash Flow Statement
Balance Sheet And Cash Flow Statement Balance sheet Cash flow statement (All amounts in USD 1000s) 4Q 2025 3Q 2025 2Q 2025 1Q 2025 (All amounts in USD 1000s) 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Non current assets Net Profit (+)/Loss (-) before tax 2,131 2,830 3,849 5,352 Rigs and Accessories 51,280 52,5
Slide 7: 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 8: Q&A
Q&A Please use the raise hand function to ask a question. Thanks