WOOD Flash – Arabian Drilling: better than we Fracking expected
Arabian Drilling has announced that it has been awarded contracts from Saudi Aramco for drilling services in the Jafurah unconventional block. The contracts are for 10 land rigs over five years, which is more than we had expected. At the end of 1Q23, the company had 35 land rigs in operation, so the contract is a significant addition to its business. Management expects these contracts to begin to affect revenues in the second quarter of 2024E. Jafurah is a huge shale gas field that is a major plank in Aramco’s local strategy and, therefore, has significant potential for further growth.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.