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Tag: Rigs
ADES

ADES International achieves strong Q1-2019 operational growth

Posted: May 28, 2019 at 4:30 pm   /   Oil & Gas

ADES International, oil and gas drilling and production company, said it saw a strong operational performance in the first quarter as the company won new contracts and rig utilisation rose. The company said revenue in the quarter ending March 31 reached US$108.7 million, up from $41.2 million in the year ago period. Its profit margins […]

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Onshore Rig

ADES to acquire 31 onshore drilling rigs from Weatherford for $287m

Posted: July 13, 2018 at 1:46 pm   /   Oil & Gas

ADES International Holding Ltd., which provides oil and gas drilling and production services in the Middle East and Africa, announced plans to acquire 31 onshore drilling rigs from Weatherford International PLC for $287.5 million. Terms call for ADES to acquire Weatherford’s onshore drilling operations, including associated assets, contracts, management systems and 2,300 employees and contract […]

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