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Drilling & Completion News

ADES expands Middle East, North Africa rig fleet ADES International Holding has signed a definitive agreement to acquire 31 onshore drilling rigs from Weatherford, as well as associated onshore drilling operations, for $287.5 million. Expected to close in the second half of 2018, the acquisition includes 12 rigs in Kuwait, 11 rigs in Saudi Arabia, six rigs in Algeria and two rigs in southern Iraq. Weatherford’s onshore drilling operations include associated assets, contracts, management systems and approximately 2,300 employees and contract personnel across Algeria, Kuwait and Saudi Arabia. The transaction brings the number of ADES’ onshore rigs in the Middle East and North Africa to 34.  In related news, on 12 June ADES closed its acquisition of three jackup rigs ...

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