Arabian Drilling raises 2026 capex forecast to SAR 750–800M

Arabian Drilling Co.’s CFO Farid Mustafayev said the company has raised its 2026 capital expenditure forecast to SAR 750–800 million, compared with its previous estimate of SAR 700 million.

The increase is mainly intended to support the accelerated commissioning of rigs and their preparation for recently awarded contracts, Mustafayev added in the company's statement on its nine-month and Q3 2026 results.

He noted that this represents a disciplined investment in anticipated growth, as the company prepares for higher fleet activity levels in 2027.

Mustafayev also explained that the company's performance reflects the tangible benefits of operational efficiency and cost optimization measures implemented across the business. EBITDA reached SAR 859 million in the first nine months of 2026, despite a year-on-year revenue decline of approximately SAR 212 million.

He added that net cash flow from operating activities increased to SAR 324 million, compared with SAR 243 million in the previous quarter.

According to data available on Argaam, Arabian Drilling's net profit fell to SAR 6.9 million in the first nine months of 2026, compared with SAR 73.3 million in the same period a year ago.