Share Prices & Company Research

Market News

13 Dec 2018 | 08:50

Ades International renews contract for offshore rig

Ades International, an oil & gas drilling and production services provider, said Thursday it had renewed an existing contract for offshore rig Admarine 657.

The renewal for Admarine 657, currently contracted and operating in Saudi Arabia, would come into effect after the expiry of its existing contract during first quarter of 2019.

The renewal tenor was for seven years, including a two-year option, and was expected to add up to circa $150m of backlog with the day rate broadly in line with the existing contract, the company said.

At 8:50am: (LON:ADES) ADES International Holding Ltd share price was -0.03p at 13.95p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.