What is the value of the acquisition deal between ADES and Shelf Drilling?

The acquisition deal is valued at 3.9 billion Norwegian crowns, which is approximately $379.33 million.

What premium does the offer represent over Shelf's closing price?

The offer of 14 crowns per share represents a 62% premium over Tuesday's closing price in Oslo.

When is the transaction expected to close?

The transaction is expected to close in the fourth quarter of 2025, pending approval from Shelf Drilling's shareholders.

How many offshore drilling rigs will the combined group have?

The combined group will have a total of 83 offshore jack-up drilling rigs serving the international oil and gas industry.

Who is the CEO of ADES International?

The CEO of ADES International is Mohamed Farouk, who stated that the transaction reinforces their position as a market leader in shallow-water offshore drilling.

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Home > Finance > Saudi rig group ADES to buy Norway rival Shelf in $380 million deal

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Saudi rig group ADES to buy Norway rival Shelf in $380 million deal

Published by Global Banking & Finance Review®

Posted on August 5, 2025

1 min read

Last updated: January 22, 2026

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Saudi rig group ADES to buy Norway rival Shelf in $380 million deal

Quick Summary

ADES International to Acquire Shelf Drilling for $380 Million

ADES International's Acquisition of Shelf Drilling

Details of the Transaction

Market Implications

Future Outlook

Key Takeaways

Frequently Asked Questions about Saudi rig group ADES to buy Norway rival Shelf in $380 million deal