Arabian Drilling reports Q2 revenue decline on rig suspensions

Arabian Drilling reported first-half 2026 revenue of SAR1.59 billion ($423 million), down 10.6 per cent year on year due to offshore rig suspensions.

Second-quarter revenue fell seven per cent quarter on quarter to SAR765 million, although the decline was narrower than the company's previous guidance of up to 12 per cent, supported by continued performance in its land drilling segment.

The land segment's second-quarter revenue increased 8.2 per cent quarter on quarter, including an SAR18 million contribution from operations in other Gulf Cooperation Council markets.

Earnings before interest, taxes, depreciation and amortisation declined 21 per cent year on year to SAR540 million in the first half, while the margin remained at 34 per cent following cost efficiency measures.