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Investing.com -- ADES announced it has received resumption notices for one jack-up rig and several onshore rigs in Saudi Arabia, causing Arabian Drilling shares to rise 9%.
The news comes as a welcome development for Arabian Drilling, whose shares have fallen 61% since January 2024 due to rig suspensions. The stock opened more than 6% higher following the announcement.
As of the second quarter of 2025, Arabian Drilling had eight rigs suspended and five without contracts. Current projections include eight additional active onshore rigs in 2026, though one additional offshore suspension is also anticipated.
The resumption of rig operations in Saudi Arabia could potentially provide significant support for Arabian Drilling’s share price if further positive developments continue in the region.
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