NorAm Drilling AS - Monthly rig update and key information relating to the cash distribution for July 2025
Oslo, Norway, July 15, 2025 Commercial update: In June 2025, the Company had 9 out of 11 rigs employed and rig utilizationwas82%.
As of July 15, 2025, approximately 79% of available rig days in July arecontracted. We currently have two rigs stacked and both are being marketed.Thecontracted backlog beyond July is approximately USD 16.9 million.
Cash distribution:
The Board of Directors today approved a monthly cash distribution ofapproximately USD 1.5 million based on free cash flow for June 2025. Thedistribution will be made from the Company's Contributed Surplus account whichconsists of previously paid in share premium transferred from the Company'sShare Premium account.
Key information:
Distribution amount: USD 0.035 per share
Declared currency: USD. Payment to shares registered with Euronext VPS will bedistributed in NOK
Date of approval: July 15, 2025
Last day including right: July 21, 2025
Ex-date: July 22, 2025
Record date: July 23, 2025
Payment date: On or about July 30, 2025
For further queries, please contact:Marius Furuly, Director of IR and StrategyTel: +47 90626191
About NorAm DrillingNorAm Drilling owns and operates a portfolio of eleven advanced drilling rigsupgraded to maximize drilling efficiency in the Permian Basin in Texas, whichisthe largest oil producing region in North America. NorAm Drilling is debt freeand has industry leading operating margins. The Company has a full pay-outdividend strategy, targeting frequent cash distributions in a profitablemarket.
www.noramdrilling.com
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