Noram Drilling As · OSL:NORAM
Noram Drilling As — Q2 2026 Earnings Presentation
9 slides from Noram Drilling As's earnings presentation, Aug 26, 2026
Slide 1: Q2 2026 Presentation
Q2 2026 Presentation August 26, 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: Q2 2026 Highlights
Q2 2026 Highlights • $29.4 million in Q2 vs. $26.2 million in Q1 2026 Revenue • 12.3% increase Q/Q • 98.6% utilization in Q2 vs. 90.3% in Q1 2026 Utilization • Two rigs returned to operations in late Q1 EBITDA • Adj. EBITDA of $6.3 million in Q2 vs. $4.5 million in Q1 2026 • Profit after tax of $4.2
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 45 consecutive monthly distributions, totaling $100m or NOK ~24 per share Monthly cash • Latest distribution of $0.045/sh implies 10.8% dividend yield p.a.(1) distributions • We intend to continue to payout excess earnings • 100% of the Company’s rigs are contracted and w
Slide 5: Oil price shift above breakeven points to higher Permian activity
Oil price shift above breakeven points to higher Permian activity Middle East conflict has lifted WTI curve by USD 15-25/bbl YTD… … and now sits at-or-above the Dallas Fed Energy Survey’s breakeven WTI prices (USD/bbl) New well breakeven price by basin (USD/bbl) 85 120 80 75 100 70 80 65 69 70 68 62
Slide 6: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 2Q 2026 1Q 2026 4Q 2025 3Q 2025 (All amounts in USD 1000s) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Rig utilization 98.6% 90.3% 82.6% 80.2% Total Operating Income 29,398 26,185 26,473 23
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 2026 1Q 2026 4Q 2025 3Q 2025 (All amounts in USD 1000s) 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Non current assets Net Profit (+)/Loss (-) before tax 4,792 3,068 2,131 2,842 Rigs and Accessories 50,526 51,1
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