Investor Relations - Drilling
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Investor Relations

ADNOC Drilling
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Capitalizing on ADNOC's ambitious expansion strategy

A unique mandate and unmatched financial profile in the drilling industry​

High visibility, captive growth, substantial earnings and cash flow generation

Drilling is a strategic business of the oil and gas value chain and ADNOC Drilling is a key asset of ADNOC, the Abu Dhabi National Oil Company, whose mission is to manage the vast hydrocarbon reserves and main source of income of the Emirate of Abu Dhabi. As the sole provider of drilling services in Abu Dhabi, we benefit from a unique relationship and a contractual framework with the Group that provides us with an unmatched visibility on our long-term top line growth, returns and cash flow generation.

At the heart of the ADNOC upstream ecosystem, we have, since 1972, built an impressive track record of strong operational and financial performance. Today, as the first national integrated drilling services provider in the region, we are adding a full range of oil field services to our original drilling offering, and are in an advantageous position to serve ADNOC’s ambitious long-term plans to further increase its crude production and to unlock new unconventional gas resources.

96
owned rigs​
10000
wells delivered​
70
million feet total distance drilled​​

As we look to the final quarter and to 2022, we see our operations returning to normal post- pandemic and we expect to continue to make significant progress in the execution of our long-term strategy. 

– Abdulrahman Al Seiari, Chief Executive Officer, ADNOC Drilling

Latest Announcement

10 November 2021

ADNOC Drilling Announces Strong Third-Quarter and Nine-Month 2021 Results Beating Market Forecast​

Resilient nine-month revenue increased 12% year-on-year to $1.7 billion with EBITDA at $785 million

Exceptional financial performance follows record ADX listing   

50% Q3 EBITDA Margin drives cash from operations1 to 105% of EBITDA

Four-fold capital expenditure increase year-on-year for the nine-month period, supporting ambitious growth agenda

Q3 2021 Figures

Latest Event

10 November 2021

Q3 and 9M 2021 Earnings release

ADNOC Drilling released its quarterly results on Wednesday, November 10.

The conference call webcast for analysts and investors in English can be viewed here.

Please note that related presentation materials are available at our Download Center.

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Our Operations

Our Operations are organized into four reporting segments: Onshore, Offshore-Jackups, Offshore-Island and Oil Field Services (OFS).

Onshore Drilling is our largest segment generating 51.3% of 2020 Revenues with 65 land rigs.

Offshore - jackups is the second contributor to our business accounting for 28.4 % of revenues with 21 jackups and one barge.

Offshore - Island represented 9.7% of revenues in 2020 with ten island rigs. Oil Field Services, accounted for 10.6% of our revenues in 2020.

Established in 2018 to, the segment allowed ADNOC Drilling to become the first Integrated Drilling Services provider in the Middle East and is expected to grow significantly over the next decade.

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46
%
2020 EBITDA margin
27
%
2020 net margin
$
1.0
billion
2020 cash flow from operations
0.6
X
2020 net debt/EBIDTA

Dividends and Dividend Policy

Our dividend policy is designed to reflect our expectation of strong cash flow and our expected long-term earnings potential, while allowing us to retain sufficient capital to fund ongoing operating requirements and continued investment for long-term growth.
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Operational and Financial Highlights

We demonstrate superior and reliable EBITDA and net income margins compared to anyone among Onshore players, Offshore players or Oil Field Services (OFS) providers in the industry, at respectively 46% and 27% in 2020. The volatility of our historical financial performance is low.
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Reports, Presentations and Announcements

Quick access to our documents illustrating our operational and financial performance; corporate reports, presentations and regulatory announcements, since our initial listing on the Abu Dhabi Securities Exchange (ADX) on 3 October 2021.
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Stock Market Data

Trading of the ADNOC Drilling shares on the Abu Dhabi Securities Exchange (ADX) commenced on 3 October 2021 under the symbol ADNOCDRILL. The company’s paid up share capital is AED 1.6 billion (one billion six hundred million UAE dirhams) divided into 16,000,000,000 shares, each with a nominal value of AED 0.10.
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Sustainability

For nearly 50 years ADNOC Drilling has drilled wells to enable ADNOC to sustainably unlock Abu Dhabi’s oil and gas wealth for the benefit of the nation.

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Corporate Video

Corporate Governance

ADNOC Drilling has historically held a strong corporate governance framework which has matured since 2020 and further enhanced pre-IPO to be fully aligned with SCA's corporate governance guidelines.

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