Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Innovative Energy has made an all-cash $12.5 per share offer to take ADES International into Saudi Arabian hands.
Lamprell and ADES International have announced new contracts in Saudi Arabia.
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.
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for £94 million.
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.
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.
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.