In a Wednesday report, Gulf News put ADNOC Drilling's net earnings at $1.07 billion for January through September 2026; revenue was $3.7 billion and the board authorized a $350 million third-quarter dividend.
Earnings before interest, taxes, depreciation and amortization totaled $1.66 billion. The third-quarter payment equals about 8.03 fils per share and combines a $262.5 million base distribution with $87.5 million from a planned $175 million discretionary dividend. The balance, another $87.5 million, needs shareholder approval. If approved, the year's total dividend would reach $1.225 billion, up 22.5% from 2025. The initial discretionary installment is due this quarter.
ADNOC Drilling CEO Abdulla Naji Ateya Al Messabi said cash generation supported investment as well as payments to shareholders. The company said oilfield services, technology-enabled work and regional operations are becoming a larger part of its results. Its Drill-to-Operate approach extends its work beyond well construction to services at other stages of a well's operating life.
Some onshore rigs were repurposed, and unconventional work followed its planned schedule; onshore revenue still rose 5% year over year, with regional operations consolidation supporting the increase. Offshore revenue grew 4%, supported by additional capacity. An AI-enabled island rig added in June contributed to revenue during the nine-month period. A separate rig joined the fleet in the third quarter but had no material effect on revenue for those months.
Conventional oilfield services activity expanded during the first nine months, while unconventional work remained below its level a year earlier as the company followed its planned schedule. ADNOC Drilling said its services business is expected to benefit from upstream investment across onshore, offshore, sour gas and unconventional projects. The company tied its outlook beyond 2026 to continuing drilling activity, island-rig deliveries, services growth and regional opportunities. The remaining discretionary dividend payment is subject to a shareholder vote.
