Ades Holding receives notices to resume operations at all offshore rigs in Saudi Arabia

Ades Holding has received notices to resume operations at all its offshore drilling rigs in Saudi Arabia, following a temporary suspension. The company, a global leader in the oil and gas sector's drilling services, announced the resumption notices through a statement on Saudi Tadawul's X account. These notices highlight the robust nature of the offshore drilling market, with contracted jack-up rig utilization rates surpassing 90 percent.

This indicates a tight market that benefits Ades, as it is the world's largest owner of jack-up offshore drilling rigs. Recently, Ades updated its operational guidance, projecting a 33-44 percent increase in EBITDA for the 2026 financial year, compared to the previous year's guidance range. This optimistic outlook is attributed to operational efficiencies, diversified business growth, and the strength of Ades' global platform.