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ADNOC Drilling Company PJSC reported revenue of $3.7 billion for the first nine months of 2026, up from $3.626 billion a year earlier, according to the company’s statement released through the Emirates News Agency. The Abu Dhabi-based contractor posted EBITDA of $1.66 billion, a 2 percent rise, and net profit of $1.07 billion, which increased 1 percent from the prior corresponding period. Both the EBITDA margin and net profit margin held steady at 45 percent and 29 percent respectively, the company said in the announcement filed with the Abu Dhabi Securities Exchange.
The board approved a third-quarter dividend distribution of $350 million, equivalent to 8 fils per share, the statement showed. That payout includes the base quarterly dividend together with the first tranche of a discretionary component that lifts the expected total dividend for 2026 to $1.225 billion, 22.5 percent above the 2025 level subject to shareholder approval of the second tranche. ADNOC Drilling has maintained a consistent distribution policy that reflects the resilience of its contracted revenue base.
In the announcement ADNOC Drilling launched its Drill-to-Operate strategy, which extends the company’s role across the full well lifecycle from construction through completions, intervention, production support and optimisation. The initiative aims to capture more value from each well while opening larger addressable markets beyond traditional drilling services. Chief executive Abdulla Naji Ateya Al Messabi said in the statement, “Our nine-month performance reflects the strength of ADNOC Drilling’s business model, the resilience of our highly contracted revenue base and the successful execution of our growth strategy. We continue to deliver consistent financial performance while investing in the capabilities, technologies and partnerships that will support the next phase of our growth.”
Onshore drilling revenue rose 5 percent year-on-year in the nine-month period, supported by the consolidation of regional operations even after accounting for the planned phasing of unconventional activity and the repurposing of certain rigs, the company reported. Offshore drilling revenue increased 4 percent, helped by additional capacity that included the contribution from an AI-enabled island rig added to the fleet in June 2026. A second island rig joined during the third quarter but did not contribute materially to that period’s results.
The company drilled 617 wells across the first nine months compared with 590 in the same period of 2025 while maintaining 99 percent rig availability, according to its operational update. It also recorded a 61 percent reduction in non-productive time against target. These metrics underpinned the financial delivery and illustrate progress on technology-enabled solutions and oilfield services that are broadening the earnings base.
ADNOC Drilling reaffirmed its full-year 2026 guidance of approximately $5 billion in revenue, $2.2 billion in EBITDA at a 44 percent margin and $1.45 billion in net profit at a 29 percent margin. Free cash flow excluding mergers and acquisitions is projected between $1.2 billion and $1.3 billion with cash capital expenditure around $600 million. The company noted that unsatisfied performance obligations stood at $33.1 billion at the end of September, expected to be recognised as revenue over coming periods.
