Oslo, Norway, May 11, 2026
Commercial update:
In April 2026, the Company had 11 out of 11 rigs employed and rig utilization
was 99%.
As of May 11, 2026, 100% of available rig days in May are contracted. The
contracted backlog beyond May is approximately USD 16.6 million.
Cash distribution:
The Board of Directors today approved a monthly cash distribution of
approximately USD 1.7 million based on free cash flow for April 2026. 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 0.04 per share
Declared currency: USD. Payment to shares registered with Euronext VPS will be
distributed in NOK
Date of approval: May 8, 2026
Last day including right: May 13, 2026
Ex-date: May 15, 2026
Record date: May 18, 2026
Payment date: On or about May 26, 2026
For further queries, please contact:
Sander Borgli, Director of IR and Strategy
Tel: +47 95455604
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