On July 16, 2026, ADES Holding Co. announced the signing of a contract on July 15, 2026 with NEO NEXT+ Energy E&P UK Limited for offshore drilling services using the Shelf Drilling Fortress jack-up rig in the UK North Sea. The total contract value, including firm duration, optional extensions, mobilization and demobilization fees, is approximately SAR 483 million (equivalent to approximately USD 129 million). The contract comprises two firm wells with a minimum duration of 550 days, plus two optional one-well extensions of a minimum 275 days each, with operations expected to commence in the fourth quarter of 2026. This award reinforces ADES's strategy of securing long-term backlog, maintaining high fleet utilization, and creating sustainable value for shareholders.

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