5 October 2022 Reference is made to the announcement of3 October 2022 by NorAm Drilling AS (previouslyNorAm Drilling Company AS ) (the "Company") regarding the extraordinary general meeting held on the same date. The resolutions made by the extraordinary general meeting, including, inter alia, amendments to the Company's articles of association, change of company name, change of signatory rights and amendment to the share capital pertaining to the private placement (completed on23 September 2022 ) are now registered with theNorwegian Register ofBusiness Enterprises . The new name of the Company is NorAm Drilling AS. The Company's new share capital isNOK 86,124,634 divided by 43,062,317 shares, each with a nominal value ofNOK 2 . AboutNorAm NorAm Drilling owns and operates a portfolio of eleven advanced drilling rigs upgraded to maximize drilling efficiency in thePermian Basin inTexas , which is the largest oil producing region inNorth America . NorAm Drilling has industry leading operating margins, and will be virtually debt free. The company will have a full pay-out dividend strategy, targeting frequent cash distributions in a raising market. NorAm Drilling has in its 15-year history established a solid foothold in US drilling market, with significant operating experience inLouisiana ,New Mexico andOklahoma but is now primarily focusing on thePermian Basin inTexas , where approximately 60% of the proven reserves in theU.S. are located. For more information visit www.noramdrilling.com.
Click here for more information
© Oslo Bors ASA, source