The great drilling rig migration: jacking up and shipping out
Now that rates are rising, Middle Eastern demand is slowing – but Southeast Asia has been touted as the next step.
Ades International
Ades plans Saudi IPO in September
The IPO will “support us in continuing to deliver growth and cement our position as the leader in the jack-up drilling market in Saudi Arabia and globally”, said chairman Ayman Abbas.
Seadrill sells Saudi jack-ups to ADES
Saudi Arabia’s ADES has struck a deal to buy seven jack-ups from Seadrill for $628 million in cash.
ADES continues rig-buying drive with pair of Valaris jack-ups
Valaris has sold two sold heavy duty jack-up rigs to a unit of ADES International, as the Dubai-based contractor continues to pick up assets from across the globe.
PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Saudi Arabia wealth fund to buy ADES
Innovative Energy has made an all-cash $12.5 per share offer to take ADES International into Saudi Arabian hands.
Lamprell, ADES win Saudi contracts
Lamprell and ADES International have announced new contracts in Saudi Arabia.
ADES eyes better times ahead
ADES International increased EBITDA, revenue and profit in the first half of 2020, versus 2019.
Numis drops oil and gas clients as work dries up
Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers.
Ades buys 12 rigs from Weatherford for £94m
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for £94 million.
Leases extended for trio of Ades rigs
Oil and gas drilling services firm Ades International said today that it had agreed contract extensions for three of its rigs in the Gulf of Suez.
ADES International inks Arabian Gulf offshore rig purchase
Oil and gas drilling and production service provider ADES International Holding Ltd (ADES) have signed a Purchase and Sale Agreement (PSA) with Nabors Drilling International II Limited for three operating jack-up rigs.
Ades looks to go from strength to strength after London listing
A fledgling oil and gas drilling services firm which listed in London this year plans to continue its strong start to life with exclusive marketing deals with shipyards.