ADES International Holding PLC

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Market Cap:
$573.7 m
52 weeks high
52 weeks low

Viewing results 1-25 of 39


ADES International reveals major jump in revenues for first half

Interim results due in September will show a business that's taken a step-change following its recent acquisitions....

on 16/8/19

ADES International lands US$80mln financing in Saudi Arabia

“The relatively low interest rate facility will enhance our financing options and helps reduce the cost of funding for our business activities," said Dr Mohamed Farouk....

on 1/8/19

ADES International sees significant growth potential as backlog and end markets improve

The firm currently operates a fleet of 13 jack-up offshore drilling rigs, 34 onshore drilling rigs, a jack-up barge, and a mobile offshore production unit...

on 9/7/19

ADES has “unsustainably low valuation” says Numis, as it initiates at 'buy'

The broker's analysts said the oil services firm has the second largest jack-up rig fleet in the Middle East and North Africa, which is “perfectly suited” for the needs of leading oil companies...

on 9/7/19

ADES International lands new business in Egypt and extends a contract in Algeria

"Award of a new contract with a leading Egyptian energy company reinforces the strength of ADES' business model that focuses on providing tailored solutions and superior services in a highly competitive market,” said Dr Mohamed Farouk....

on 24/6/19

ADES International sees strong first quarter as acquired rigs boost revenue

The US$288mln acquisition of rigs from Weatherford, completed during the quarter, provided a significant boost to the group's trading performance...

on 28/5/19

ADES International expands credit facilities

It shows Alinma Bank's continued confidence in the group and its strategy, said chief executive Mohamed Farouk....

on 7/5/19

ADES International expects big revenue boost as Weatherford rig purchases kick in

The order backlog at the end of February totalled US$1.5bn...

on 3/5/19

ADES International shares rise as it wins two new contracts in Algeria

The two onshore contracts in Algeria are with state-owned oil group Sonatrach...

on 12/4/19

ADES International concludes Weatherford transaction picking up remaining rigs in Algeria and Iraq

It paid US$20mln and US$12mln respectively for rigs in Algeria and southern Iraq, with the latter pair set for relocation to Saudi Arabia...

on 26/3/19

Ades International's revenues jump as rig utilisation picks up

The order backlog at the end of February totalled US$1.5bn...

on 25/3/19

ADES secures first deepwater drilling contract in Egypt deal with Dana Gas

The drilling services provider said the contract was to drill one well in the Egyptian Mediterranean basin but also had an extension option for another three wells...

on 8/3/19

ADES International completes purchase of Algerian rigs from Weatherford

The four rigs were bought for US$40mln, with another two rigs in the country to be purchased for US$20mln within the next four weeks ...

on 28/2/19

ADES International renews contracts for six rigs in Saudi Arabia

All six rigs are contracted for a minimum of three years...

on 25/2/19

ADES International Holding secures two onshore drilling contracts in the Kingdom of Saudi Arabia

The provider of oil & gas drilling and production services in the Middle East and North Africa said each of the secured contracts has a tenure of seven years - five years fixed and two years optional...

on 18/2/19

ADES International launches integration project for recent acquisitions

The firm said the project will respect all existing client commitments, with strong governance installed for guidance and to minimise the impact on daily operations...

on 17/1/19

ADES International secures seven-year contract renewal in Saudi Arabia

"We are delighted to have extended the contract for Admarine 657 with this important and valued customer,” said chief executive Mohamed Farouk...

on 13/12/18

ADES International completes Saudi Arabia rig purchases from Weatherford

The Saudi-based rigs cost US$92.5mln with nine currently under contract and an order backlog of US$78mln...

on 3/12/18

ADES International's valuation gap 'hard to justify'

Utilisation rates rose to 83% helped by the acquisition of three jack-up rigs from Nabors....

on 29/11/18

ADES revenues rise sharply as rig utilisation picks up

Middle East-focused ADES is in the process of acquiring another 31 rigs from US group Weatherford...

on 22/11/18

ADES International tipped for substantial upside as Canaccord runs its rule over Baker Hughes deal with ADNOC

“We believe that comparing ADNOC Drilling to ADES is fair, with appropriate caveats,” Brooks said...

on 9/10/18

ADES International expects rig rates to pick up with oil price

Oil prices of around US$70 per barrel should drive up drive up utilisation and day-rates...

on 3/9/18

ADES International in good shape for exploration upturn

Rig prices can soar when exploration activity picks up ...

on 12/7/18