GCC Energy:Limited upside for Saudi drillers, prefer higher visibility for ADNOC Drilling
Goldman Sachs·2024-08-12 17:24

12 August 2024 | 9:48AM GST 2131d4eaf4cb4d50b1d51c8af07b64b4 GCC Energy Limited upside for Saudi drillers, prefer higher visibility for ADNOC Drilling Remain Neutral-rated on Saudi drillers Into 3Q, we expect Arabian Drilling's (ADC) top line to marginally grow on a further ramp-up of unconventional rigs, partially offset by lower offshore contribution following suspensions which we see weighing slightly on margins. For ADES, we expect broadly stable top-line/EBITDA performance, partially supported by the c ...