Noram Drilling As · OSL:NORAM
Noram Drilling As — Q1 2026 Earnings Presentation
9 slides from Noram Drilling As's earnings presentation, May 28, 2026
Slide 1: Q1 2026 Presentation
Q1 2026 Presentation May 28, 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: Q1 2026 Highlights
Q1 2026 Highlights Revenue • $26.2 million in Q1 vs. $26.5 million in Q4 2025 Utilization • 90.3% utilization in Q1 vs. 82.6% in Q4 2025 EBITDA • Adj. EBITDA of $4.5 million in Q1 vs. $3.8 million in Q4 2025 • Profit after tax of $2.6m Net results • Earnings per share of $0.06 Backlog • Backlog of $
Slide 4: Recent Events and Outlook
Recent Events and Outlook • 42 consecutive monthly distributions, totaling $95m or NOK ~23 per share Monthly cash • Latest distribution of $0.04/sh implies 8.8% dividend yield p.a.(1) distributions • We intend to continue to payout excess earnings • Both idle rigs returned to operation during Q1 202
Slide 5: DUCs Doing the Heavy Lifting to Sustain Permian Output
DUCs Doing the Heavy Lifting to Sustain Permian Output Permian production approaching its ceiling… … while DUC inventory is at multi-year lows… … and depletion is accelerating Permian total crude oil production (mbpd) # Permian drilled but uncompleted wells Average Permian DUC duration in days 300 7
Slide 6: Key Operational Figures
Key Operational Figures Selected operational and financial data Income statement (All amounts in USD per day) unless noted 1Q 2026 4Q 2025 3Q 2025 2Q 2025 (All amounts in USD 1000s) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Rig utilization 90.3% 82.6% 80.2% 86.0% Total Operating Income 26,185 26,473 23,926 24
Slide 7: Balance Sheet And Cash Flow Statement
Balance Sheet And Cash Flow Statement Balance sheet Cash flow statement (All amounts in USD 1000s) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 (All amounts in USD 1000s) 1Q 2026 4Q 2025 3Q 2025 2Q 2025 Non current assets Net Profit (+)/Loss (-) before tax 3,068 2,131 2,842 3,849 Rigs and Accessories 51,113 51,2
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