Odfjell Drilling

🌟Change Begins by Addressing Challenges! 🌟 The drilling industry, especially offshore, faces unique challenges from overcoming gender biases to ensuring a supportive work environment. Recently, we hosted a #WomeninDrilling workshop with our management, building on the valuable feedback from our November session with all women in Odfjell Drilling. We were honored to have Kristina Helland-Hansen, Torstein Tveit, and Monica Leitgeb from Equinor join us. They shared their insights on tackling these challenges, delivering an inspiring presentation on their efforts to address the same issues. Through this work, our objectives include promoting diversity, empowering women, and ensuring alignment with our HR policies and ambitions. We are committed to establishing an inclusive workplace for all by engaging leadership at all levels and acting on employee feedback to improve gender equality processes. 💪🌊 #WomeninDrilling #WiD #OdfjellDrilling

Recently, we had the pleasure of attending the DNB Markets Energy and Shipping Conference and the SpareBank 1 Markets AS Energy Conference. At both events, we engaged with new and existing investors, sharing the exceptional equity story we have ahead of us. 📈✨ Backed by an increasing revenue backlog until at least the end of 2026, the future looks incredibly bright. 🌟 In addition to being part of the impressive panel, we were also proud to see our CEO Kjetil Gjersdal presented with an award for the best drilling company stock performance in 2024 at the DNB Conference. 🏆👏 #ODL #OdfjellDrilling #DNBMarketsConference #Sparebank1Markets 📸 by #DNBMarkets & #Sparebank1Markets

Why is Odfjell Drilling considered a leader in harsh environment drilling? 🌊 One of the many reasons is that our #GVA7500 rigs, can stay connected to the well in wave heights up to 20 meters (10.7m Hs). This capability helps reduce downtime, allowing operations to continue in challenging conditions. Harsh environment drilling involves extreme conditions, including relentless waves, strong winds, and rapid weather changes. These situations require the best people, the best rigs, and a strong culture of operational excellence, and we continuously strive to meet these demands. #OdfjellDrilling #HarshEnvironmentDrilling #ODL

Our Q4 results are out! 💙 Wrapping up 2024 on a high note, we have more than doubled our dividend, achieved a record EBITDA of USD 93 million and are well positioned for continued success in 2025 with a robust contract backlog and strong balance sheet. 💬 CEO Kjetil Gjersdal comments: “We are very pleased by the performance of our business in 2024. Thanks to the hard work and dedication of our staff, Odfjell Drilling has remained at the forefront of our industry. "We have entered 2025 in one of the strongest positions in our history. Our latest results reflect this success with record revenue, EBITDA growth, solid operations, and a further strengthened balance sheet. In addition we have also, as a first step, increased our dividend to 12.5 cents per share, more than doubling our previous dividend and we have the ambition and capacity to increase further in the quarters ahead." Read the full report here: https://lnkd.in/d9rGhpYk #ODL #OdfjellDrilling #Q4results

NEW CONTRACT ANNOUNCEMENT👏 We are thrilled to announce that we have received a contract extension from Equinor for the use of Deepsea Atlantic, bringing the firm backlog on the rig up to late Q2 2027. Kjetil Gjersdal, CEO of Odfjell Drilling, commented: “With this additional backlog, the Odfjell Drilling owned fleet is now fully booked until 2027 with significant, predictable and increasing revenue backlog. In addition, we are very pleased to add further tenure with our long-standing client, Equinor, with whom the Deepsea Atlantic has been contracted since 2009.” Reflecting on 2024, it was truly a record-breaking year for Deepsea Atlantic! 🌟 Operating on the Johan Sverdrup field, Deepsea Atlantic set the benchmark with 10 wells delivered last year. Highlights include: 🔹 6 subsea wells on Johan Sverdrup field 🔹 A comprehensive SPS yard stay, with installation of a brand-new BOP 🔹 4 exploration wells, showcasing versatility What makes this achievement even more impressive? Deepsea Atlantic not only delivered the most wells in Equinor's portfolio but has also operated with zero HSE-reported incidents for the past 24 months! 🌍🔒 This success and new contract extension is a testament to what’s possible with strong collaboration across the #OneTeam, seamless integration of planning centres, and the dedication of teams across all disciplines. 🤝✨ Thank you to everyone involved in making this possible! 🙌 To read more, please see the press release: https://lnkd.in/diTpgKQf #ODL #OdfjellDrilling #JohanSverdrup

This week, we welcomed 40 students from Godalen Videregående in Stavanger to Hercules at Westcon Yards AS ⚒️🌊 During their visit, the students explored key areas of the rig, from the drill floor to the engine room, lifeboat stations, and the helideck, gaining insight into offshore work and life onboard. Apprentice Coordinator, Adrian Jensen, who joined the visit commented: 📢 “It’s inspiring to see such engagement. These students represent the future of our industry.” Next week, we look forward to hosting another 40 students for the same experience! 🎥 Watch the video for highlights.

This week, Odfjell Drilling was at the heart of two global financial hubs! 🌍 Our CEO, Kjetil Gjersdal, presented in London, while James Crothers, Investor Relations, delivered key insights to investors in New York at the 2025 Fearnley Securities Drilling Seminar. Together, they highlighted four key messages that underscore Odfjell Drilling's leadership in the offshore harsh environment drilling market and our vision for 2025: 🌊 Market leadership: thriving in a challenging environment ⚓ Fully sold-out fleet: a testament to strong demand for our services ⚖️ Well-balanced market: providing stability and growth opportunities 💰 Dividend policy: committed to delivering value, with an intention to increase payouts "2025 is set to be an extremely exciting year for Odfjell Drilling with multiple value transformative events ahead of us," said Kjetil Gjersdal. #ODL #OdfjellDrilling #InvestorRelations

🎄 Merry Christmas 🎄 For many, the holidays are a time to be with loved ones - but for our dedicated colleagues working offshore, it’s a season shared with their second family on the rigs. To everyone spending Christmas offshore, we thank you for keeping our operations running smoothly and safely. We would also like to wish all our colleagues, clients, and suppliers a warm, safe, and joyful holiday season 🎅💙 #MerryChristmas #OdfjellDrilling #OffshoreFamily

This weekend, Deepsea Stavanger spudded the first of two appraisal wells in the Smeaheia prospect. The objective of the well is to gather important information and data to obtain a better understanding of the reservoir for future carbon capture and storage (CCS) wells. The scope of work will also include an injection test of the reservoir. This project is an exciting step for Odfjell Drilling as it will provide new opportunities to leverage our 50 years of experience as a key supplier to our clients and assist in developing projects for CO₂ storage offshore.🌊💙 #OdfjellDrilling #ODL #DeepseaStavanger

We are pleased to announced today that we have entered into an amendment agreement with our lenders which will allow for reducing quarterly instalments by approximately USD 4.3 million between Q1 2025 and Q4 2026. The agreement will result in a total of USD 34.2 million now being due of the facility in Q1 2029. See the full details in our press release here: https://lnkd.in/dQmf7tVv If you would like to receive our press releases as they are issued, please email our Investor Relations Office, James Crothers at jchu@odfjelldrilling.com #ODL #odfjelldrilling