Arabian Drilling Company (the ?Company?) announced that it has finalized the discussions with Aramco related to the previously announced suspension of three Offshore Rigs. Two Offshore Rigs have been suspended for a period of up to 12 months and an agreement was reached not to extend the current contract on a third rig that ends in June 2024, due to significant capex investments that would have been required to prolong the contract. The Company is currently engaged with various parties regarding new commercial opportunities to reposition the rigs, including outside of Saudi Arabia.
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5-day change | 1st Jan Change | ||
131.6 SAR | -1.20% |
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-2.37% | -31.10% |
07-04 | HSBC Cuts Arabian Drilling PT, Affirms Hold Rating | MT |
06-04 | Arabian Drilling Decides Against Extension of Third Rig Contract with Saudi Aramco | MT |
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EPS Revisions
1st Jan change | Capi. | |
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-31.10% | 3.12B | |
+15.87% | 20.13B | |
-8.02% | 8.33B | |
-7.66% | 6.29B | |
-17.50% | 5.78B | |
+6.59% | 5.29B | |
-19.69% | 4.62B | |
+7.22% | 3.61B | |
-2.40% | 3.49B | |
+21.78% | 1.72B |
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- Arabian Drilling Company Finalizes the Discussions with Aramco Related to the Previously Announced Suspension of Three Offshore Rigs