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 announced the formation of the Turnwell joint venture with SLB and Patterson-UTI, aimed at accelerating a $1.7 billion unconventional oil and gas well program. The venture will expedite the delivery of 144 wells, with potential for additional wells in a second phase. Turnwell will leverage Enersol’s technology to enhance cost efficiency and safety. ADNOC Drilling will hold a 55% stake in Turnwell, SLB 30%, and Patterson-UTI 15%. The acceleration of the well program is expected to positively impact ADNOC Drilling's 2025 earnings and long-term growth.

Disclosures: ADNOC Drilling Signs Turnwell Agreements and Accelerates Initial $1.7 Billion Unconventionals Campaign

7 days ago

Date: 2 September 2024 The Disclosures and Compliance Section of the Market Operations and Surveillance at Abu Dhabi Securities Exchange has received a notification regarding the completion of an acquisition. ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC have announced that their joint venture, Enersol RSC LTD, has completed the acquisition of an additional 42.206% equity stake in Gordon Technologies LLC. This acquisition increases Enersol's total equity stake in Gordon Technologies to 67.2%. Sincerely, Abdulrahman Abdulla Alseiari Chief Executive Officer Copy to: Securities and Commodities Authority

Disclosures: ADNOC Drilling - Notification for closing of acquiring the additional equity stake of around 42.2% in Gordon Technologies LLC

a month ago

Date: 2 September 2024 To: Disclosures and Compliance Section, Market Operations and Surveillance, Abu Dhabi Securities Exchange, Abu Dhabi, UAE Subject: Notification for the completion of acquiring an additional equity stake of around 42.2% in Gordon Technologies LLC ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC announce that their joint venture, Enersol RSC LTD, has completed the acquisition of an additional 42.206% equity stake in Gordon Technologies LLC. This brings Enersol's total equity stake in Gordon to 67.2%. Sincerely, Abdulrahman Abdulla Alseiari Chief Executive Officer Copy to: Securities and Commodities Authority

Disclosures: ADNOC Drilling:- Notification for closing of acquiring the additional equity stake of around 42.2% in Gordon Technologies LLC

a month ago

On September 2, 2024, the Abu Dhabi Securities Exchange was notified by ADNOC Drilling Company PJSC and Alpha Dhabi Holding PJSC that their joint venture, Enersol RSC LTD, has completed the acquisition of an additional 42.206% equity stake in Gordon Technologies LLC. This acquisition brings Enersol's total equity stake in Gordon Technologies to 64.206%. This follows an earlier announcement made on June 11, 2024. The notification was signed by Abdulrahman Abdulla Alseiari, Chief Executive Officer, with a copy sent to the Securities and Commodities Authority.

Disclosures: ADNOC Drilling Company PJSC - ADNOC Drilling and Alpha Dhabi’s “Enersol” Joint Venture Increases Equity Stake in Gordon Te..

a month ago

ADNOC Drilling Company PJSC held its General Assembly Meeting on Monday, June 24, 2024, at 3 p.m. UAE time, both in-person at their Abu Dhabi location and virtually. Shareholders representing 82.97% of the company's share capital attended. The meeting aimed to discuss and resolve agenda items. Mr. Ahmed Al Raesi attended as a representative of the Securities and Commodities Authority. The meeting was chaired by Mr. Abdulmunim Saif Al Kindy, Vice Chairman of the Board, who confirmed the quorum and welcomed attendees. Mr. Ahmad Ma’abreh was appointed Secretary, and First Abu Dhabi Bank and Lumi were designated as vote collectors. The Secretary then presented the meeting agenda.

Disclosures: ADNOC Drilling Company PJSC AGM Minutes held on 24/06/2024 at 15:30

2 months ago

On 2 August 2024, the Board of Directors of ADNOC Drilling Company PJSC held a meeting via video conference at 3:00 p.m. During the meeting, the Board approved the company's financial statements for the second quarter of the 2024 financial year. Additionally, the Board approved the distribution of interim cash dividends to shareholders for the first half of 2024, totaling USD 394,143,750 (equivalent to AED 1,447,492,922), which translates to approximately 9.0468 fils per share. Key dates include the last day to purchase shares on 8 August 2024, the ex-dividend date on 9 August 2024, the shareholders’ registry closing date on 12 August 2024, and the payment date within 30 days from 2 August 2024. All parties have agreed to sign the document electronically.

Disclosures: ADNOC Drilling Company PJSC Board Meeting Result (Dividend) to be held on 05/08/2024 at 08:00

2 months ago

ADNOC Drilling Company P.J.S.C. has released a review report and condensed consolidated financial information for the six-month period ending on June 30, 2024.

Disclosures: ADNOC Drilling Company PJSC Financial Results for the Period Ended June 30,2024

2 months ago

Enersol has signed an agreement to acquire a 100% equity stake in EV Holdings for $45 million. EV Holdings is a global provider of vision-based diagnostics and analytical services in the oil and gas sector. This acquisition aligns with Enersol's strategy to become a technology-centric investment platform. This marks Enersol's third acquisition, bringing its total commitments to approximately $550 million. The transaction is subject to regulatory approvals and closing adjustments. EV Holdings operates in 36 countries, including the UAE and Saudi Arabia, and offers well diagnostics services to address complex wellbore issues.

Disclosures: ADNOC Drilling - Enersol Signs Agreement to Acquire Company - EV

2 months ago