Odfjell Drilling has a fully contracted fleet to H2/24, leaving the focus in the upcoming Q4 report on the outlook and refinancing efforts ahead of the 2024 maturities. We have increased our estimates ahead of the report because of ODL’s solid track record of earning beats thanks to performance bonuses, which we now include to a larger extent in our assumptions. We reiterate our Buy recommendation and our NOK 42/sh target price.
