Investor Presentation • Sep 20, 2023
Investor Presentation
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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 other data available from third parties. Although NorAm believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, NorAm cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. The Company has not taken any steps to verify any of the information contained herein. No representation or warranty (express or implied) is made as to any information contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements. The Company does not accept any liability whatsoever arising directly or indirectly from the use of the materials.
The Presentation may contain certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. Any such forward-looking statements are solely opinions and forecasts reflecting views as of the date set out on the cover of these materials, which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. No liability for such statements, or any obligation to update any such statements or to conform such statements to actual results, is assumed. Furthermore, information about past performance given in this Presentation is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance.
This presentation and related materials speaks only as of the date set out on the cover, and the views expressed are subject to change based on a number of factors. The Company does not undertake any obligation to amend, correct or update the materials or to provide any additional information about any matters described herein, but reserves the right to amend, correct or update the materials and provide additional information.
| 11 | Modernized Ultra Super Spec rigs Fully upgraded with state-of-the-art walking systems and racking capacity, with a track record of drilling the longest wells in the Permian |
|---|---|
| 100% | Permian focus Strategically positioned to unlock untapped oil reserves by employing the latest horizontal drilling technology |
| Industry low cost break-even Lean management team, skilled labor and low employee turnover leads to optimized costs and operations |
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| >10 NOK |
Debt free and full payout strategy Monthly dividends with total cash distributions of more than NOK10 per share since December 2022. Latest monthly distribution implies annualized yield of 14% |
NorAm Drilling has a fleet of fully upgraded rigs with a track record of drilling the longest wells (25,000+ feet) in the Permian
By far the most producing region in the US Permian sitting on the largest proved reserves1
Key fundamentals
Note: 1) DUC means drilled, uncompleted well. Data from EIA's latest drilling activity report. 2) Based on EIA's drilling activity report and NorAm company data
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