NorAm Drilling Q1 FY26 net profit drops 50.14% to USD 2.57 million; revenue rises 1.55% to USD 26.2 million

  • NorAm Drilling posted Q1 2026 net profit of USD 2.57 million, down 50.15% from a year earlier, while revenue rose 1.55% to USD 26.2 million.
  • Operating profit fell 42.88% to USD 2.97 million.
  • Adjusted EBITDA climbed to USD 4.5 million from USD 3.7 million in Q4 2025.
  • Fleet utilization increased 7.7 percentage points to 90.3% versus Q4 2025; current revenue backlog totaled USD 23.3 million.
  • CEO Marty L. Jimmerson said two previously idle rigs returned to work, lifting the fleet to 100% utilization by quarter-end.


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 May 27, 2026, and is solely responsible for the information contained therein.

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.