ADNOC Drilling Company PJSC

Ticker/ISIN
ADNOCDRILL
AEA007301012
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
Latest Stock Price
3.76 AED
2024-02-21

Year to date

-0.01 %

3 months

0.00 %

6 months

0.00 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

We are the largest national drilling company in the Middle East by rig fleet size, with 107 rigs, out of which 96 rigs are owned and 11 are rented, as of 30 June 2021 and the sole provider of drilling rig hire services and certain associated rig-related services to the ADNOC group on agreed contractual terms. We provide our customers with a full suite of drilling services, including drilling rigs hire services and certain associated rig-related services in Abu Dhabi and oilfield services (such as integrated drilling services, wireline, directional drilling, cementing, pressure pumping, logging and fluids, and hydraulic fracturing). Approximately half of our fleet is less than five years old and 29 of our rigs are performing integrated drilling services to our customers. From our inception through 31 December 2020, we have drilled over 9,600 wells with a total distance of over 70 million feet. In the first half of 2021, we drilled 286 additional wells.

Latest Pressrelease Summaries

ADNOC Drilling Company PJSC
Enersol has signed an agreement to acquire a 51% equity stake in NTS AMEGA for $581 million. NTS AMEGA, a global manufacturer of advanced precision equipment for the energy sector, will benefit ADNOC Drilling through Enersol’s AI, digitization, and advanced technology. This acquisition marks Enersol’s second and reflects its commitment to becoming a technology-centric investment platform. The transaction is subject to regulatory approvals and closing adjustments. NTS AMEGA, headquartered in the UAE, operates globally and reported strong financials in FY2023, with revenue exceeding $120 million and a robust EBITDA margin.
ADNOC Drilling Company PJSC
ADNOC Drilling has been awarded a $733 million contract by ADNOC Offshore for three new island drilling rigs to support operations at the offshore Zakum field. The contract, which exceeds medium-term guidance, is expected to enhance long-term cash flow and earnings visibility. ADNOC Drilling is collaborating with Honghua Group to integrate artificial intelligence into rig design, improving safety and efficiency. This investment is part of ADNOC Drilling's growth strategy, with over $2.2 billion invested since its IPO in building a large integrated drilling fleet. The new rigs will be some of the most advanced globally and will operate on existing and new artificial islands at the Zakum field. The award is seen as a significant milestone and a testament to ADNOC Drilling's technical expertise and capabilities.
ADNOC Drilling Company PJSC
ADNOC Drilling has been awarded a $733 million contract by ADNOC Offshore for three new island drilling rigs to support operations at the offshore Zakum field. The contract, which exceeds medium-term guidance, enhances long-term cash flow and earnings visibility. ADNOC Drilling is collaborating with Honghua Group to integrate artificial intelligence into rig design, improving safety and efficiency. This purchase is part of ADNOC Drilling's growth strategy, with over $2.2 billion invested since its IPO in building a large integrated drilling fleet. The new rigs will operate on existing and newly constructed artificial islands at the Zakum field, contributing to ADNOC's efforts to meet global energy demands while minimizing emissions.
ADNOC Drilling Company PJSC
ADNOC Drilling has announced a new dividend policy that ensures a minimum annual growth of 10% in dividends from 2024 to 2028, resulting in at least 61% cumulative growth over five years. This policy allows the Board of Directors to approve additional discretionary dividends. At least $4.8 billion will be distributed to shareholders during this period, highlighting the company's commitment to attractive shareholder returns. The policy was approved at the General Shareholder Meeting and aims for a minimum cumulative yield of over 27% from 2024 to 2028. Dividends will be paid semi-annually. ADNOC Drilling recently increased its free float to 16.5% following a $935 million institutional placement, benefiting a larger number of shareholders.
ADNOC Drilling Company PJSC
ADNOC Drilling and Alpha Dhabi's joint venture, Enersol, has increased its equity stake in Gordon Technologies to 67.2% by acquiring an additional 42.2% for approximately $270 million. This acquisition will make Enersol the majority equity holder in Gordon Technologies, which has established a business in Abu Dhabi to commence field operations in the MENA region. The transaction, funded 80% upon closing and the remainder over two years subject to performance conditions, is pending regulatory approval. Gordon Technologies, a debt-free provider of measurement while drilling (MWD) technology, is expected to bring profitability and operational efficiencies to Enersol. The acquisition aligns with the UAE’s energy security and economic diversification goals.
ADNOC Drilling Company PJSC
The Abu Dhabi Securities Exchange has issued a general disclosure, including a press release from Abu Dhabi National Oil Company (ADNOC), the current majority shareholder of ADNOC Drilling Company PJSC. The disclosure was signed by the Chief Executive Officer, Abdulrahman Abdulla Al Seiari, and a copy was sent to the Securities and Commodities Authority.
ADNOC Drilling Company PJSC
The Abu Dhabi Securities Exchange has received a press release from the Abu Dhabi National Oil Company (ADNOC). ADNOC, which currently owns 84% of the ordinary shares in ADNOC Drilling Company PJSC, has made a general disclosure. A copy of this communication has also been sent to the Securities and Commodities Authority.
ADNOC Drilling Company PJSC
On 13th May 2024, the Board of Directors of ADNOC Drilling Company PJSC held a meeting and approved the company's financial statements for Q1 2024. The Board also discussed the company's dividends policy and agreed to recommend a new progressive dividends policy, with dividends growing by at least 10% per annum for five years, and potential additional dividends at the Board's discretion. This recommendation will be presented for shareholders' approval at an upcoming general assembly meeting. Additionally, the Board was informed that the company secured a $1.7 billion contract to explore unconventional energy resources in the UAE.

Threads

Page 1
Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC General Press Release

Enersol has signed an agreement to acquire a 51% equity stake in NTS AMEGA for $581 million. NTS AMEGA, a global manufacturer of advanced precision equipment for the energy sector, will benefit ADNOC Drilling through Enersol’s AI, digitization, and advanced technology. This acquisition marks Enersol’s second and reflects its commitment to becoming a technology-centric investment platform. The transaction is subject to regulatory approvals and closing adjustments. NTS AMEGA, headquartered in the UAE, operates globally and reported strong financials in FY2023, with revenue exceeding $120 million and a robust EBITDA margin.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC - ADNOC Drilling Awarded $733 Million Contract for Three Newbuild Island Rigs

ADNOC Drilling has been awarded a $733 million contract by ADNOC Offshore for three new island drilling rigs to support operations at the offshore Zakum field. The contract, which exceeds medium-term guidance, is expected to enhance long-term cash flow and earnings visibility. ADNOC Drilling is collaborating with Honghua Group to integrate artificial intelligence into rig design, improving safety and efficiency. This investment is part of ADNOC Drilling's growth strategy, with over $2.2 billion invested since its IPO in building a large integrated drilling fleet. The new rigs will be some of the most advanced globally and will operate on existing and new artificial islands at the Zakum field. The award is seen as a significant milestone and a testament to ADNOC Drilling's technical expertise and capabilities.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC

ADNOC Drilling has been awarded a $733 million contract by ADNOC Offshore for three new island drilling rigs to support operations at the offshore Zakum field. The contract, which exceeds medium-term guidance, enhances long-term cash flow and earnings visibility. ADNOC Drilling is collaborating with Honghua Group to integrate artificial intelligence into rig design, improving safety and efficiency. This purchase is part of ADNOC Drilling's growth strategy, with over $2.2 billion invested since its IPO in building a large integrated drilling fleet. The new rigs will operate on existing and newly constructed artificial islands at the Zakum field, contributing to ADNOC's efforts to meet global energy demands while minimizing emissions.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC AGM Results held on 24/06/2024 at 15:00

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Confirms New Enhanced Dividend Policy with Minimum 10% Annual Growth for Five Years

ADNOC Drilling has announced a new dividend policy that ensures a minimum annual growth of 10% in dividends from 2024 to 2028, resulting in at least 61% cumulative growth over five years. This policy allows the Board of Directors to approve additional discretionary dividends. At least $4.8 billion will be distributed to shareholders during this period, highlighting the company's commitment to attractive shareholder returns. The policy was approved at the General Shareholder Meeting and aims for a minimum cumulative yield of over 27% from 2024 to 2028. Dividends will be paid semi-annually. ADNOC Drilling recently increased its free float to 16.5% following a $935 million institutional placement, benefiting a larger number of shareholders.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling and Alpha Dhabi’s “Enersol” Joint Venture Increases Equity Stake in Gordon Technologies to 67.2%

ADNOC Drilling and Alpha Dhabi's joint venture, Enersol, has increased its equity stake in Gordon Technologies to 67.2% by acquiring an additional 42.2% for approximately $270 million. This acquisition will make Enersol the majority equity holder in Gordon Technologies, which has established a business in Abu Dhabi to commence field operations in the MENA region. The transaction, funded 80% upon closing and the remainder over two years subject to performance conditions, is pending regulatory approval. Gordon Technologies, a debt-free provider of measurement while drilling (MWD) technology, is expected to bring profitability and operational efficiencies to Enersol. The acquisition aligns with the UAE’s energy security and economic diversification goals.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Drilling Company PJSC Invitation to Attend AGM held on 24/06/2024 at 15:00

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC Successfully Completes $935 Million Institutional Placement of ADNOC Drilling Shares

The Abu Dhabi Securities Exchange has issued a general disclosure, including a press release from Abu Dhabi National Oil Company (ADNOC), the current majority shareholder of ADNOC Drilling Company PJSC. The disclosure was signed by the Chief Executive Officer, Abdulrahman Abdulla Al Seiari, and a copy was sent to the Securities and Commodities Authority.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From ADNOC Drilling Company PJSC

Disclosures: ADNOC to Offer Approximately 880 Million Shares of ADNOC Drilling Through a Bookbuild Offering

The Abu Dhabi Securities Exchange has received a press release from the Abu Dhabi National Oil Company (ADNOC). ADNOC, which currently owns 84% of the ordinary shares in ADNOC Drilling Company PJSC, has made a general disclosure. A copy of this communication has also been sent to the Securities and Commodities Authority.

1. Attached Document

Page 1