Northern Ocean Closes USD 480 Million Sale of Deepsea Bollsta to Odfjell Drilling

(AWP Alliance News) - Northern Ocean Ltd. has completed the sale of its subsidiary's rig, Deepsea Bollsta, to a subsidiary of Odfjell Drilling Ltd. for a cash consideration of USD 480 million. Following the transaction, Northern Ocean Ltd. prepaid the remaining USD 285 million loan provided by a group of banks and reduced its loan facility with Sterna Finance Ltd., affiliated with its main shareholder Hemen Holding Limited, to USD 100 million. The company referenced a stock e…

NOL: Sale of Deepsea Bollsta

15 December 2025 - Hamilton, BermudaWith reference to the stock exchange notice dated 17 November 2025, NorthernOcean Ltd. ("NOL") announces that its subsidiary today has closed the sale ofthe Deepsea Bollsta to a Odfjell Drilling Ltd subsidiary, for a cash settlementof USD 480 million. NOL has simultaneously prepaid the remaining USD 285 millionloan provided by a group of banks and reduced its loan facility with SternaFinance Ltd., a company affiliated with the main sharehol…

Northern Ocean Wins Drilling Vessel Contract from Shell Unit

12:33 AM EST, 12/12/2025 (MT Newswires) -- Drilling contractor Northern Ocean (NOL.OL) said Thursday it secured a contract for its Deepsea Mira drilling vessel from a Shell (SHEL.L, SHELL.AS) subsidiary for operations in Namibia. The vessel is expected to begin operations in April 2026. The contract includes one firm well, estimated to take 45 days, plus an optional well, bringing the estimated firm backlog to $16 million.

Northern Ocean Ltd. wins Shell contract for Deepsea Mira in Namibia

(AWP Alliance News) - Northern Ocean Ltd. has announced the signing of a contract with a subsidiary of Shell plc for the Deepsea Mira rig. Operations are scheduled to begin in Namibia in April 2026. The agreement covers one firm well with an estimated duration of 45 days and includes one optional well. The firm portion of the contract is expected to generate approximately USD 16 million, increasing Northern Ocean Ltd.'s firm backlog to about USD 387 million. https://www.publi…

NOL: Contract Award for Deepsea Mira

11 December 2025 - Hamilton, BermudaNorthern Ocean Ltd. ("NOL") announces the signing of a contract with asubsidiary of Shell plc ("Shell") for the Deepsea Mira, commencing operations inNamibia in April 2026. The contract covers one firm well and includes oneoptional well, with an estimated duration of 45 days for the firm well and aprojected firm backlog of approximately USD 16 million. This contract willincrease NOL's firm backlog to approximately USD 387 million.For inquir…

Northern Ocean Ltd. Q3 2025 total operating revenues rise 9% to USD 57.4 million

(AWP Alliance News) - Northern Ocean Ltd. reported total revenues of USD 57.4 million for the third quarter (Q3) of 2025, representing a 9 percent increase from the previous quarter. Rig operating expenses for Q3 2025 were USD 46.4 million. The company recorded an interest expense of USD 15.9 million and a foreign exchange loss of USD 1.4 million for the same period. Net loss from continuing operations after taxes was USD 25.9 million in Q3 2025. The basic and diluted loss pe…

NOL: Third Quarter 2025 Results

28 November 2025 - Hamilton, BermudaNorthern Ocean Limited (OSE: NOL) (together with its subsidiaries, the"Company"), today reports unaudited results for the second quarter ended 30September 2025.***Forward Looking StatementsMatters discussed in this release may contain certain forward-looking statementsrelating to the business, financial performance and results of the Companyand/or the industry in which it operates, sometimes identified by the words"believes", "expects", "in…

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