NorAm Drilling says July rig utilization hits 99%

Reuters2026/08/13 08:55

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NorAm Drilling reported 11 of 11 rigs employed in July 2026, with rig utilization at 99%.
As of Aug. 10, 100% of available rig days in August were contracted; backlog beyond August totaled about USD 25.6 million.
Monthly cash distribution set at about USD 2 million, or USD 0.045 per share, based on July free cash flow.
Shares trade ex-distribution Aug. 18; payment expected on or about Aug. 26.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NorAm Drilling AS published the original content used to generate this news brief on August 13, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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NorAm Drilling says July rig utilization hits 99%

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