Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:

"During the second quarter of 2024, Odfjell Drilling continued to build on the
success of the first quarter with another period of high financial utilisation
and strong revenue, as well as adding new firm backlog on Deepsea Aberdeen at
industry leading day rates. All of this was achieved whilst also preparing for
our most demanding yard stay in our history, on the Deepsea Atlantic.

"I am therefore delighted to note that, through extensive planning over the last
2 years, focused execution and a lot of hard work by our team, we have, during
some hectic summer weeks, successfully completed significant upgrades to the
Deepsea Atlantic whilst also completing its 15-year SPS within budget and ahead
of schedule.

"The rig is now upgraded on several areas, and we were pleased to see the rig
sail away bright and shiny on higher day rates, in early August.

"With yet more backlog being added to our owned fleet, all of our rigs are fully
booked with firm contracts until at least mid-2026. As such, we remain highly
optimistic about our forward free cash-flow generating capabilities."

Q2 Highlights:
Good delivery across the business
o	Q2 EBITDA of USD 85 million 
o	Q2 Revenue of USD 191 million
o	98% Financial Utilisation

Industry leading contracts secured, further increasing backlog until mid-2026 
o	Contract agreed with Equinor for use of the Deepsea Aberdeen for 8 x wells at
a contract value of USD 121 million
o	Order Backlog of USD 2.1 billion
o	USD 2 billion from firm contracts
	USD 0.1 billion from priced options

Preparatory work for Deepsea Atlantic completed during the quarter, resulting in
SPS completion on time and on budget
o	Deepsea Atlantic SPS completed in early Q3, within budgeted time and cost
o	Unit now moves onto higher day rate contract

Balance sheet strengthened despite SPS capex
o	Leverage ratio of 1.8x
o	Equity Ratio of 63%

Q2 Dividend of USD 14.4 million
o	Q2 Quarterly Dividend of USD 0.06 per share declared


Chief Executive Officer Odfjell Drilling AS, Kjetil Gjersdal, Chief Financial
Officer Odfjell Drilling AS, Frode Syslak and Investor Relations Officer, James
Crothers will be hosting a webcast and Q&A session at 2pm CET today to discuss
the results.

Stakeholders can either use the link below for the webcast or listen via
telephone using the details below.

Webcast details:
https://brrmedia.news/OD3_Q2_24

Conference call:
USA Local: 		+1 786 697 3501
Norway Local Oslo:	+47 2 156 3318
UK-Wide: 		+44 (0) 33 0551 0200
Password (if prompted by the operator) - Odfjell Drilling Q2 

For further queries, please contact:
James Crothers, Investor Relations Officer 
+44 (0) 7495 067 684 
jchu@odfjelldrilling.com  
London, United Kingdom
21 August 2024
Odfjell Drilling Ltd

This information is published in accordance with the requirements of the Oslo
Børs Rule Book II section 4.2.4 (1) no. 3 and is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.