NorAm Drilling
Energy, Utilities & Waste · Norway · 201-500 Employees
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Overview
Headquarters
Bryggegata 00112 3, Oslo, Oslo, 0112, No...Phone Number
(281) 598-9200Website
www.noramdrilling.comRevenue
$110.6 MillionStock Symbol
NORAMIndustry
ZI Rank: 3
Signal Type
Dec
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ZI Rank
2
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About NorAm Drilling
NorAm Drilling is a prominent drilling operator specializing in the Permian basin, equipped with a fleet of 11 Ultra Super Spec drilling rigs. With 15 years of operational experience, the company has established a reputation for successfully drilling some of the longest wells in the region. Their rigs are fully upgraded, featuring advanced walking systems and high racking capacity. NorAm Drilling primarily serves clients in the oil and gas industry looking for efficient and cutting-edge drilling solutions.Explore more
NorAm Drilling Org Chart
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Revenue
Number of Employees
Type
Funding
Founded In
Company Profile Activity
Activity Insights
NorAm Drilling is experiencing very low activity levels compared to other companies in the Energy, Utilities & Waste sector.
What does this means?
NorAm Drilling is drawing exceptional interest within the Energy, Utilities & Waste industry, suggesting notable developments or strong market momentum, learn more about NorAm Drilling.
NorAm Drilling financials insights
Gather financial insights about NorAm Drilling, including details on funding rounds, investors, total funding, and acquisitions, to gain a comprehensive understanding of their financial strategy.
2020
Debt
$5M
2021
Debt
$2M
NorAm Drilling Tech Stack
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Most Recent Scoops
Earnings
reported that the all-in break-even of $18,600 is fully inclusive of overhead and CAPEX. The company does not see any pressure on wages and is starting to see some decline in rig insurance renewals, maintaining a comfortable all-in fully burdened break-even level of $18,600.
Accounting, Compensation & Benefits, Financial Reporting, Finance, HR Operations, Operations
Earnings
reported revenue of $23.9 million for Q3, down $1 million from the previous quarter as a result of lower utilization.
Earnings, Accounting, Financial Reporting, Finance, Operations
Earnings
reported adjusted EBITDA of $4.3 million for Q3, down from $5.3 million in Q2 due to lower revenue and utilization.
Earnings, Accounting, Financial Reporting, Finance, Operations
Earnings
reported that the company was able to renew all of its rigs, whether pad to pad or six-month to one-year contracts, at the same average fleet rate. The company does not expect any changes as it comes up on the next round of renewals.
Contracts, Operations, Pricing
Earnings
Contracts, Operations
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Frequently Asked Questions Regarding NorAm Drilling
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NorAm Drilling is a prominent drilling operator specializing in the Permian basin, equipped with a fleet of 11 Ultra Super Spec drilling rigs. With 15 years of operational experience, the company has established a reputation for successfully drilling some of the longest wells in the region. Their rigs are fully upgraded, featuring advanced walking... Read More
