NorAm Drilling AS (OSL:NORAM) Long-Term Capital Lease Obligation : kr0 Mil (As of Mar. 2024)

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What is NorAm Drilling AS Long-Term Capital Lease Obligation?

NorAm Drilling AS's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was kr0 Mil.

NorAm Drilling AS Long-Term Capital Lease Obligation Historical Data

The historical data trend for NorAm Drilling AS's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
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NorAm Drilling AS Long-Term Capital Lease Obligation Chart

NorAm Drilling AS Annual Data

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Long-Term Capital Lease Obligation

NorAm Drilling AS Quarterly Data
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NorAm Drilling AS (OSL:NORAM) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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NorAm Drilling AS (OSL:NORAM) Business Description

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TM9:Germany

Address

Bryggegata 3, P.O. Box 1327 - Vika, Oslo, NOR, 0112

Website

https://www.noramdrilling.com

NorAm Drilling AS owns and operates a quality rig portfolio of AC driven rigs tailored for the drilling of horizontal wells in the United States land drilling market. NorAm Drilling Company operates all eleven rigs and is financed through a combination of equity investments and intercompany loans, at arm's length terms, from its parent.

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