Adnoc Drilling nine-month profit edges up 0.7% to $1.07bn on record $3.7bn revenue
Adnoc Drilling reported nine-month net profit of $1.07bn, up 0.7%, on record revenue of $3.7bn. It declared a $350m third-quarter dividend and launched its Drill-to-Operate strategy.
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The story, neutrally told
Centre · 2Adnoc Drilling reported net profit attributable to shareholders of $1.07 billion for the first nine months of 2026, up 0.7% from $1.06 billion a year earlier. The NationalN “increased 0.7 per cent annually to $1.07 billion in the first nine months of 2026, from $1.06 billion a year earlier” Read at The National ↗ Gulf NewsN “ADNOC Drilling reported net profit of $1.07 billion for the first nine months of 2026” Read at Gulf News ↗ Centre · 2Revenue for the period rose more than 2% to a record $3.7 billion, and Ebitda increased 2% to $1.66 billion, driven by onshore and offshore drilling and the consolidation of regional operations. The NationalN “Revenue for the first nine months rose more than 2 per cent to a record $3.7 billion”“Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 2 per cent to $1.66 billion.” Read at The National ↗ Gulf NewsN “revenue reaching $3.7 billion as the company expanded its services and regional operations” Read at Gulf News ↗ Centre · 2Onshore drilling revenue grew 5% year on year, helped by the consolidation of regional operations, and offshore drilling revenue rose 4% after new capacity, including an AI-enabled island rig deployed in June; a second island rig joined in the third quarter without a material revenue contribution. The NationalN “onshore drilling revenue increased 5 per cent year-on-year, supported by the consolidation of regional operations” Read at The National ↗ Gulf NewsN “A second island rig joined the fleet during the third quarter but did not make a material contribution to revenue in that quarter.” Read at Gulf News ↗
Centre · 2Growth was partly offset by the planned phasing of unconventional drilling and the repurposing of some onshore rigs; conventional oilfield services expanded while unconventional activity stayed below the prior-year level. The NationalN “The growth in revenue and profit was partly offset by the planned phasing of unconventional drilling activity and the repurposing of some onshore rigs.” Read at The National ↗ Gulf NewsN “Unconventional activity followed its planned schedule and remained below the level recorded in the same period of 2025.” Read at Gulf News ↗ Centre · 1For the third quarter alone, The National reported net profit fell 0.8% to $365.4 million from $368.2 million, with revenue also declining marginally. The NationalN “declined 0.8 per cent annually to $365.4 million, compared with $368.2 million in the same period last year” Read at The National ↗ Centre · 2The board approved a third-quarter dividend of $350 million, made up of a $262.5 million base payout and an $87.5 million discretionary tranche. A further $87.5 million discretionary payment is expected in April, subject to shareholder approval, which would bring the 2026 total to $1.225 billion, up 22.5%. The NationalN “comprising a base payout of $262.5 million and an additional discretionary dividend of $87.5 million” Read at The National ↗ Gulf NewsN “If approved, the total expected dividend for 2026 would reach $1.225 billion, up 22.5 per cent from 2025.” Read at Gulf News ↗
Centre · 2The company launched Drill-to-Operate, the next phase of its growth strategy, extending its services across the full lifecycle of a well. Chief executive Abdulla Al Messabi called it "a natural evolution" of the business. The NationalN “The company also launched Drill-to-Operate, the next phase of its growth strategy.” Read at The National ↗ Gulf NewsN “Drill-to-Operate strategy, which extends its services across the full lifecycle of a well” Read at Gulf News ↗ Centre · 2Al Messabi said the results reflected "the resilience of our highly contracted revenue base and the successful execution of our growth strategy". The NationalN “the resilience of our highly contracted revenue base” Read at The National ↗ Gulf NewsN “the resilience of our highly contracted revenue base and the successful execution of our growth strategy” Read at Gulf News ↗ Centre · 1The company kept its full-year guidance of about $5 billion in revenue and roughly $1.45 billion in net profit, with free cash flow of $1.2–1.3 billion excluding mergers and acquisitions. For 2027 it forecasts low-to-mid single-digit revenue growth but broadly stable net profit, as higher depreciation and financing costs offset increased activity. The NationalN “full-year earnings guidance of $5 billion in revenue and approximately $1.45 billion in net profit”“net profit is expected to remain broadly stable next year, as higher depreciation and financing costs associated with its expansion offset gains from increased activity” Read at The National ↗
Centre · 1The National places the company within the UAE's push for 5 million barrels per day of crude capacity by 2027 and notes a $365 million contract it won in July for the $6.2 billion Umm Shaif gas cap project. The NationalN “Adnoc Drilling was awarded a $365 million contract for the project in July.” Read at The National ↗
Every sentence links to the reporting it rests on. The pill in front of each says where its sources sit: Left, Centre or Right when one side supplies at least half of them, Mixed when they are evenly split. The number is how many outlets it cites.
Left0 outlets
No left outlet in our sources has covered this story yet.
Centre2 outlets
- Framing
- Both outlets report the results from the company's statement as a steady performance: record revenue, a higher dividend and a new strategy. Profit growth is treated as marginal in The National and not discussed in Gulf News.
- Emphasis
- The National adds third-quarter decline, 2027 outlook and UAE production context. Gulf News stresses services diversification, the AI-enabled island rigs and the dividend per share.
- Leaves out or plays down
- Gulf News does not mention the 0.7% profit growth, the third-quarter profit decline or the flat 2027 profit outlook. The National gives less detail on the island rigs and jack-up repurposing.
- Charged language
- “marginal increase”“record”
- For example
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“reported a marginal increase in its nine-month net profit as revenue climbed to a record” — The National
“These activities are broadening its earnings base and adding revenue streams” — Gulf News
Right0 outlets
No right outlet in our sources has covered this story yet.
What every side reports
- Nine-month 2026 net profit was $1.07 billion.
- Revenue was $3.7 billion and Ebitda $1.66 billion.
- Onshore drilling revenue rose 5% and offshore 4%.
- The board approved a $350 million third-quarter dividend, with a 2026 total of $1.225 billion expected, up 22.5%.
- The company launched the Drill-to-Operate strategy.
Where accounts differ
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Date of the announcement
- Centre
- The National says the company filed on Tuesday 27 October; Gulf News says it reported on Wednesday.
Adnoc Drilling organisation
Presents the results as consistent performance from a highly contracted revenue base, with cash generation funding both growth investment and higher shareholder returns, and Drill-to-Operate as the next growth phase.
“Al Messabi said cash generation supported both investment and shareholder returns” — Gulf News
“the resilience of our highly contracted revenue base” — The National
Left0 articles
No coverage yet.
Centre2 articles
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Adnoc Drilling's nine-month profit rises to $1.07bn as revenue hits record
Neutral Detailed results report that calls the profit rise marginal and includes the third-quarter dip, guidance and 2027 outlook.
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ADNOC Drilling posts $1.07 billion nine-month profit
Neutral Company-focused summary stressing service-line diversification, rig additions and dividend, without profit-change or quarterly figures.
Right0 articles
No coverage yet.
- 27 Oct 05:30 First The NationalN Adnoc Drilling's nine-month profit rises to $1.07bn as revenue hits record
- 28 Oct 10:12 +28h 43m Gulf NewsN ADNOC Drilling posts $1.07 billion nine-month profit
Times are when each article was published, or when we first saw it if the outlet gave no time.
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