UAE Equity Research - ADNOC Drilling (ADNOCDRI) 2Q26 - Earnings Call Insight
Revenue grew 2.9% YOY to USD 1,232 Mn in 2Q26, driven by the consolidation of SLDC and MBPS, the contribution of two jack-ups that commenced operations at the end of 2Q25, the partial contribution of the AI-enabled island rig delivered in June 2026, and higher fuel escalation, partially offset by the repurposing of certain onshore rigs and the lower phasing of unconventional activity,