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ADES Completes Merger with Shelf Drilling

ADES has completed its merger with Shelf Drilling, forming a combined offshore drilling company with more than 80 jack-ups and a $9.45 billion backlog as of June 2025.
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ADES International Holding has finalised its acquisition of Shelf Drilling, closing the transaction in November 2025 and forming a combined offshore drilling group operating more than 80 jack-up rigs, including over 45 premium units active in major basins worldwide.

The merger stems from an announcement issued on 5 August 2025, later amended on 16 September with updated terms setting the offer at NOK 18.50 ($1.89) per share. The revised proposal followed discussions with Shelf Drilling’s senior management and reflected market conditions as well as an upward revision of estimated annual cost synergies to $50–60 million, compared with the earlier $40–50 million guidance.

As of 30 June 2025, the combined company reported a total backlog of $9.45 billion.

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.
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