Ades International Archives

ADES and Lamprell have won more work in Saudi Arabia, with contracts on a rig extension and engineering design services respectively.

E&P

Lamprell, ADES win Saudi contracts

02/11/2020

by Ed Reed

Lamprell and ADES International have announced new contracts in Saudi Arabia.

Middle East

ADES eyes better times ahead

22/09/2020

by Ed Reed

ADES International increased EBITDA, revenue and profit in the first half of 2020, versus 2019.

Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers. Bloomberg, citing unnamed sources, said this decision came as mining and oil and gas sector work had dried up. The advisory firm is cutting both its equities and investment banking business. ADES International said it had received notice that Numis would no longer act as its joint broker with immediate effect. The company will continue to work with Investec Bank and Canaccord Genuity, it said. Other companies who have lost their broker include West Africa energy companies Lekoil and Savannah Energy, in addition to Greatland Gold. Savannah said Mirabaud Securities would act as its sole broker. Lekoil also retains Mirabaud, but has said it is seeking to appoint a second broker. Greatland, a mining company, said it was in advanced talks with a new joint broker. The unnamed broker would aim to grow Greatland’s institutional investor base. In the meantime, SI Capital will serve as its sole broker. Issuing a trading update at the beginning of July, Numis said its investment banking arm had benefited from an increase in capital markets transaction volumes. This had offset the decline in M&A and IPOs in the quarter coming to a close at the end of June. In a sign of its new focus, Nunmis flagged up capital raisings for larger corporate clients during the period. These included ASOS, Ocado and Unite. The broker has been pushing for a shift to clients with higher market capitalisations. It said these companies would offer more “revenue generating opportunities”. Setting out its interim results in May, Numis said it had been the weakest period for IPOs since 2012.

Africa

Numis drops oil and gas clients as work dries up

16/07/2020

by Ed Reed

Numis Securities has opted to cut its natural resources division, driving a number of companies to seek new brokers.

Middle East

Ades buys 12 rigs from Weatherford for £94m

02/11/2018

by Mark Lammey

Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for £94 million.

Middle East

Leases extended for trio of Ades rigs

11/01/2018

by Mark Lammey

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.

An ONGC platform at Bombay High in the Arabian Sea

Oil & Gas

ADES International inks Arabian Gulf offshore rig purchase

20/12/2017

by David McPhee

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.

The Admarine V rig, which was contracted to Belayim Petroleum Co. (Petrobel), a joint venture between ENI IEOC and Egyptian General Petroleum Corporation (EGPC) in July.

Middle East

Ades looks to go from strength to strength after London listing

18/09/2017

by Mark Lammey

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.