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National Energy Services Reunited Corp. (NESR) is one of the largest national oilfield services providers in the MENA and Asia Pacific regions, founded in 2017. NESR stands out as the first company from the MENA region to be listed on the NASDAQ. With over 5,000 employees representing more than 60 nationalities across more than 15 countries, NESR is dedicated to helping its customers unlock the full potential of their reservoirs.
NESR offers a comprehensive range of Production Services including:
- Hydraulic Fracturing
- Cementing
- Coiled Tubing
- Filtration
- Completions
- Stimulation
- Pumping
- Nitrogen Services
Additionally, the company provides Drilling and Evaluation Services to enable smarter, faster, and more efficient access to reservoirs. These services include:
- Drilling Downhole Tools
- Directional Drilling
- Fishing Tools
- Testing Services
- Wireline
- Slickline
- Drilling Fluids
- Rig Services
NESR has recently achieved several milestones, including multiple contract awards worth over $175 million, spanning a number of service lines in key countries across both the GCC and North Africa. The company continues to expand its strategic portfolio, particularly in Drilling & Evaluation services such as Tubular Running Services, Fishing, and Downhole Tools.
The company remains committed to sustainability and innovation. In collaboration with Saudi Aramco, NESR has successfully implemented Zero Liquid Discharge (ZLD) technology for water management. This groundbreaking technology aims to enhance produced water treatment and establish circular water economies.
NESR also inaugurated its flagship 'Carbon Light' oilfield brine plant in North Rumaila, Iraq, leveraging cutting-edge technologies to reduce the carbon footprint and water waste associated with brine supply. This initiative aligns with NESR's commitment to decarbonization and responsible water stewardship.
Financially, the company has witnessed unprecedented growth in the MENA region, with record revenues and significant improvements in its balance sheet. As of the latest reports, NESR recorded revenue of $300 million in Q3 2023, with optimistic projections for continued growth.
NESR remains a key player in the oilfield services industry, driven by a mission to deliver exceptional service quality and innovation, fostering strong relationships with customers, and maintaining a focus on sustainability and operational excellence.
National Energy Services Reunited Corp. (NESR), a leading integrated energy services provider in the MENA region, has announced its participation in multiple investor conferences and events from December 2024 through early 2025.
The schedule includes non-deal roadshows with TD Cowen, Benchmark Company, J.P. Morgan, and Barclays, as well as major industry conferences such as the Capital One Securities Energy Conference, Goldman Sachs Energy Conference, and Piper Sandler Energy Conference.
NESR will also participate in key regional events including the Saudi IKTVA Forum, Libya Energy & Economic Summit, and Egypt Energy Show, where management will showcase technological achievements, including the Roya drilling platform and NEDA ecosystem solutions. The company's leadership will participate in various panels focusing on Middle East energy, decarbonization, and regional production strategies.
National Energy Services Reunited Corp. (NESR) reported strong Q3 2024 financial results with revenue reaching $336.2 million, up 12.0% year-over-year and 3.5% sequentially. Net income grew 40.0% year-over-year to $20.6 million, while Adjusted EBITDA increased 12.9% to $80.0 million. Diluted EPS rose 37.5% to $0.22. Operating cash flow for the nine months improved 30.4% to $183.1 million, with free cash flow up 38.1% to $103.0 million. The company achieved a significant milestone with Net Debt to trailing-twelve-months Adjusted EBITDA falling below 1.0, ending at 0.96.
National Energy Services Reunited Corp. (NESR), a leading integrated energy services provider in the MENA region, has announced its Q3 2024 earnings release schedule for November 19, 2024. The company will host a conference call at 8:00 AM ET on the same day, with dial-in options available for U.S. and international participants. NESR will also host a Nasdaq Bell Ringing ceremony on November 20 in New York City to celebrate its recent uplisting to Nasdaq Capital Market, featuring key technologies and recent milestones. A live earnings webcast will be available on the company's website, with a replay accessible afterward.
National Energy Services Reunited (NESR) has successfully completed its first ROYA drilling campaign in Kuwait and secured multiple directional drilling awards worth over $200 million across core countries. The company deployed its integrated RoyaSteer® Rotary Steerable System and RoyaStream® Measurement-While-Drilling tool, which has already drilled over 70,000 feet in the Americas. The new contracts span 3-5 years across Saudi Arabia, Oman, and Kuwait, enabling NESR to strategically implement its high-end drilling solutions.
National Energy Services Reunited Corp. (NASDAQ:NESR) has acquired a minority stake in SALTTECH BV, a Dutch thermal desalination technology provider. The cash-funded acquisition follows successful Dyvar® pilot projects in the MENA region. NESR holds an option to become Salttech's majority owner in future years. The partnership aims to scale up circular water technology in Saudi Arabia and other key markets, with plans to localize manufacturing, research, and training in the Kingdom. The Dyvar® technology has proven successful in various industries including mining and dairy, focusing on sustainable water treatment and mineral recovery solutions.
National Energy Services Reunited Corp. (NESR) has received approval to transfer its listing to the Nasdaq Capital Market. The uplisting will take effect on October 22, 2024, with the company's shares continuing to trade under the ticker symbol 'NESR' and warrants under 'NESRW'. This move comes after NESR met all applicable requirements for public listing on the Nasdaq Capital Market.
NESR Chairman & CEO Sherif Foda expressed satisfaction with the approval, stating it is a critical step towards maximizing shareholder value and solidifying NESR's unique position as the only publicly listed MENA energy services company on a major US exchange.
National Energy Services Reunited Corp. (NESR), a leading provider of integrated energy services in the Middle East and North Africa (MENA) region, has published a company presentation on its website for the Barclays CEO Energy-Power conference. NESR's Chairman & CEO, Sherif Foda, will participate in a fireside chat with analysts at 1:15pm ET. The presentation is available on the Investor Relations page of NESR's website (www.nesr.com). This event provides an opportunity for investors to gain insights into NESR's operations and future strategies in the MENA energy sector.
National Energy Services Reunited Corp. (NESR) reported strong financial results for Q2 2024. Revenue grew 15.9% year-over-year to $325.0 million. Net income surged 870.3% to $18.9 million, with diluted EPS of $0.20. Adjusted EBITDA increased 30.2% to $78.7 million. The company's performance was driven by increased activity in Saudi Arabia and Kuwait. Operating cash flow for H1 2024 improved 55.1% to $112.3 million, while free cash flow rose 73.2% to $59.6 million. NESR's Net Debt to trailing Adjusted EBITDA ratio decreased to 1.13 as of June 30, 2024, reflecting improved financial health.
National Energy Services Reunited Corp. (NESR), a leading integrated energy services provider in the MENA region, has announced its financial results release for the first half of 2024, scheduled for August 29, 2024. A conference call will be held at 8:00 AM ET on the same day to discuss the results. The company has also outlined its participation in several upcoming investor conferences and industry events, including:
- Barclays CEO Energy-Power Conference (Sept 3-5, NYC)
- Pickering Energy Partners Conference (Sept 16-18, Austin)
- Gastech Exhibition & Conference (Sept 17-20, Houston)
- Future Investment Initiative (Oct 29-31, Riyadh)
- ADIPEC (Nov 4-7, Abu Dhabi)
- Bank of America Energy Conference (Nov 12-13, Houston)
National Energy Services Reunited (NESR) has announced the resignation of board member Thomas Wood, effective June 5, 2024. Mr. Wood will not be up for re-election at the 2024 Annual General Meeting. The company operates internationally in the Middle East and North Africa, providing integrated energy services. No specific reasons were given for Mr. Wood's resignation.
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