{"id":"arabian-drilling-first-half-financial-results-2026","canonicalSlug":"arabian-drilling-first-half-financial-results-2026","url":"https://wellficent.com/en/news/arabian-drilling-first-half-financial-results-2026","language":"en","title":"Arabian Drilling reports first-half loss as offshore activity weighs on revenue","summary":"Land drilling partly offsets offshore weakness; the contractor reports 43 active rigs at the end of June.","body":["Arabian Drilling reported first-half 2026 revenue of SAR 1,586.3 million on 10 August, down 10.6% from the comparable period. EBITDA fell 21% to SAR 539.7 million, with a margin of 34%. The Saudi contractor recorded a net loss of SAR 24.5 million, compared with a net profit of SAR 82.7 million a year earlier. These figures cover the six months ended June, not subsequent summer operations.","The quarterly breakdown shows the different directions of its land and offshore businesses. Second-quarter revenue was SAR 764.7 million, against SAR 821.6 million in the first quarter. Offshore revenue declined to SAR 171.3 million from SAR 273 million, while land revenue rose to SAR 593.4 million from SAR 548.6 million. The land improvement therefore partly offset the offshore decline without eliminating the overall quarterly reduction.","At the end of June, the company reported 43 active rigs and utilization of 71.7%. Its backlog stood at SAR 11.83 billion. Backlog represents contracted future business and cannot be treated as revenue already recognized. The report also noted that three previously suspended rigs had returned by 1 August, a development after the financial reporting period. Their return should not be retroactively included in the June operating snapshot.","For drilling-market analysis, the results connect fleet activity with segment revenue and earnings rather than providing a well-production forecast. The company expected third-quarter revenue growth of 4–6% over the preceding quarter, but that figure was guidance when published. Comparing later results with this outlook will require actual operating and financial disclosures. Neither contracted backlog nor returning rigs alone establishes how many wells were completed or how much oil was produced."],"keyPoints":[],"sections":[],"text":"Arabian Drilling reports first-half loss as offshore activity weighs on revenue\n\nLand drilling partly offsets offshore weakness; the contractor reports 43 active rigs at the end of June.\n\nArabian Drilling reported first-half 2026 revenue of SAR 1,586.3 million on 10 August, down 10.6% from the comparable period. EBITDA fell 21% to SAR 539.7 million, with a margin of 34%. The Saudi contractor recorded a net loss of SAR 24.5 million, compared with a net profit of SAR 82.7 million a year earlier. These figures cover the six months ended June, not subsequent summer operations.\n\nThe quarterly breakdown shows the different directions of its land and offshore businesses. Second-quarter revenue was SAR 764.7 million, against SAR 821.6 million in the first quarter. Offshore revenue declined to SAR 171.3 million from SAR 273 million, while land revenue rose to SAR 593.4 million from SAR 548.6 million. The land improvement therefore partly offset the offshore decline without eliminating the overall quarterly reduction.\n\nAt the end of June, the company reported 43 active rigs and utilization of 71.7%. Its backlog stood at SAR 11.83 billion. Backlog represents contracted future business and cannot be treated as revenue already recognized. The report also noted that three previously suspended rigs had returned by 1 August, a development after the financial reporting period. Their return should not be retroactively included in the June operating snapshot.\n\nFor drilling-market analysis, the results connect fleet activity with segment revenue and earnings rather than providing a well-production forecast. The company expected third-quarter revenue growth of 4–6% over the preceding quarter, but that figure was guidance when published. Comparing later results with this outlook will require actual operating and financial disclosures. Neither contracted backlog nor returning rigs alone establishes how many wells were completed or how much oil was produced.","category":"finance","region":"world","topics":[],"eventDate":"2026-08-10","eventDateBasis":"source-event-or-period","publishedAt":"2026-10-03T15:14:59+03:00","modifiedAt":"2026-10-03T15:14:59+03:00","publicationBasis":"first-publication","preparedAt":null,"sourcePublishedAt":"2026-08-10","translatedAt":null,"sources":[{"name":"Arabian Drilling","url":"https://ad-prod-ireland2.s3.eu-west-1.amazonaws.com/uploads/Arabian%20Drilling%20-%20H1%202026%20Earnings%20Release%20EN%20%205.pdf","checkedAt":"2026-10-03","publishedAt":"2026-08-10"}],"translations":{"en":"https://wellficent.com/en/news/arabian-drilling-first-half-financial-results-2026","tr":"https://wellficent.com/tr/news/arabian-drilling-first-half-financial-results-2026","ar":"https://wellficent.com/ar/news/arabian-drilling-first-half-financial-results-2026","fr":"https://wellficent.com/fr/news/arabian-drilling-first-half-financial-results-2026","es":"https://wellficent.com/es/news/arabian-drilling-first-half-financial-results-2026","ru":"https://wellficent.com/ru/news/arabian-drilling-first-half-financial-results-2026","pt":"https://wellficent.com/pt/news/arabian-drilling-first-half-financial-results-2026"},"corrections":[],"locations":[{"id":"country-sa","type":"country","countryCode":"SA","name":{"en":"Saudi Arabia","tr":"Suudi Arabistan","ar":"السعودية","fr":"Arabie saoudite","es":"Arabia Saudí","ru":"Саудовская Аравия","pt":"Arábia Saudita"},"context":{"en":"Country context of the report, not an exact well location. The cited source supplies no verified well coordinates.","tr":"Haberin ülke bağlamıdır; kesin kuyu konumu değildir. Kaynak doğrulanmış kuyu koordinatı sağlamıyor.","ar":"سياق البلد للخبر، لا موقع بئر دقيق. لا يقدم المصدر إحداثيات آبار موثقة.","fr":"Contexte national du reportage, pas emplacement exact d’un puits. La source ne fournit pas de coordonnées vérifiées.","es":"Contexto nacional del informe, no ubicación exacta de un pozo. La fuente no proporciona coordenadas verificadas.","ru":"Страна указана для контекста материала, а не как точное местоположение скважины. Цитируемый источник не предоставляет проверенных координат скважин.","pt":"A localização indica o país referido no artigo, não a posição exata de um poço. A fonte citada não fornece coordenadas verificadas dos poços."},"source":{"name":"Arabian Drilling","url":"https://ad-prod-ireland2.s3.eu-west-1.amazonaws.com/uploads/Arabian%20Drilling%20-%20H1%202026%20Earnings%20Release%20EN%20%205.pdf","checkedAt":"2026-10-03"}}],"wellIndustry":{"sector":"oil-gas","signal":"operational-result","activities":["drilling"],"metrics":[{"unit":"rigs","value":43,"qualifier":"exact"}],"source":{"name":"Arabian Drilling","url":"https://ad-prod-ireland2.s3.eu-west-1.amazonaws.com/uploads/Arabian%20Drilling%20-%20H1%202026%20Earnings%20Release%20EN%20%205.pdf","checkedAt":"2026-10-03"},"reviewedAt":"2026-10-03T12:03:26+00:00"}}