Arabian Drilling Co.TADAWUL: 2381

Arabian Drilling Company: H1'24 revenue up 21% YoY, with guidance and capex outlook confirmed for FY'24

· Issued by Arabian Drilling Co.

Revenue grew 21% YoY in H1'24, driven by unconventional rig deployment, but Q2'24 saw a 3% sequential dip due to offshore suspensions. Guidance for FY'24 revenue and capex remains unchanged, with leverage rising to 1.5x.

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