ADES wins contract extension for Shelf Drilling Winner in Dutch North Sea

ADES Holding has extended the contract for the Shelf Drilling Winner jackup with Tenaz Energy Netherlands for drilling operations in the Dutch sector of the North Sea, converting the initial one-year firm term into a three-year firm term while maintaining the same optional terms.

The contract, which commenced in mid-November 2025, was originally awarded as a one-year firm period with two one-year optional extensions. The extended agreement preserves those two options. The total potential contract value, including the firm term and both optional extension periods, is approximately $221.93 million.