Northern Ocean is an offshore drilling contractor that owns high-specification semi-submersible rigs built for harsh environments. It provides drilling services to oil and gas operators in demanding basins, with assets such as the Deepsea Mira designed for advanced, efficient operations. The business model centers on deploying a small fleet of sophisticated units under contract rather than large multi-rig commodity fleets.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q1 2025 | 58 | — | -11.2 | — |
| Q2 2025 | 52.6 | — | -15.1 | — |
| Q3 2025 | 57.4 | — | -25.9 | — |
| Q4 2025 | 111.3 | — | -50.5 | — |
| Q1 2026 | 13.3 | -77.1% | -23.1 | — |
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Other companies on Oslo: Zalaris ASA (ZAL), Magnora ASA (MGN), Thor Medical ASA (TRMED), Salmon Evolution ASA (SALME), Reach Subsea ASA (REACH), NorAm Drilling AS (NORAM)