Oslo, Norway, November 10, 2025 Commercial update: In October 2025, the Company had 9 out of 11 rigs employed and rig utilization was 81%. As of November 10, 2025, approximately 82% of available rig days in November are contracted. One of the two stacked rigs has been contracted and it is expected to commence operations mid December. The remaining stacked rig is being actively marketed. The contracted backlog beyond November is approximately USD 23.1 million. Cash distribution: The Board of Directors today approved a monthly cash distribution of approximately USD 1.3 million based on free cash flow for October 2025. The distribution will be made from the Company's Contributed Surplus account which consists of previously paid in share premium transferred from the Company's Share Premium account. Key information: Distribution amount: USD 0.03 per share Declared currency: USD. Payment to shares registered with Euronext VPS will be distributed in NOK Date of approval: November 10, 2025 Last day including right: November 17, 2025 Ex-date: November 18, 2025 Record date: November 19, 2025 Payment date: On or about November 28, 2025 For further queries, please contact: Marius Furuly, Director of IR and Strategy Tel: +47 90626191 About NorAm Drilling NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is the largest oil producing region in North America. NorAm Drilling is debt free and has industry leading operating margins. The Company has a full pay-out dividend strategy, targeting frequent cash distributions in a profitable market. www.noramdrilling.com
Click here for more information
© Oslo Bors ASA, source Oslo Stock Exchange