ADES Resumes All Suspended Offshore Rigs in Saudi Arabia

ADES

ADES

2382.SA

0.00

On August 11, 2026, ADES Holding Company announced that it has received resumption notices for all of its temporarily suspended offshore rigs in Saudi Arabia. This development follows the company's previous operational update issued on March 24, 2026, in which ADES projected full-year 2026 EBITDA growth of 33-44% above the prior year's upper-end guidance. The resumption is underpinned by robust offshore market fundamentals, with contracted jackup utilization holding at approximately 90% and day rates remaining firm, reinforcing ADES's position as the largest owner of jackup rigs globally.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97526&anCat=1&cs=2382&locale=ar

Attached PDF document link:

https://www.saudiexchange.sa/Resources/fsPdf/26594_4926_2026-08-11_09-24-21_en.pdf

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.

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