NESR Successfully Deploys ROYA Platform & Secures Drilling Awards Exceeding $200 Million
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 (NESR) ha completato con successo la sua prima campagna di perforazione ROYA in Kuwait, assicurandosi diversi contratti per perforazione direzionale del valore di oltre 200 milioni di dollari nei paesi chiave. L'azienda ha utilizzato il suo sistema integrato RoyaSteer® Rotary Steerable System e lo strumento RoyaStream® Measurement-While-Drilling, che ha già perforato oltre 70.000 piedi nelle Americhe. I nuovi contratti durano tra 3 e 5 anni in Arabia Saudita, Oman e Kuwait, permettendo a NESR di implementare strategicamente le sue soluzioni di perforazione di alta gamma.
National Energy Services Reunited (NESR) ha completado con éxito su primera campaña de perforación ROYA en Kuwait y ha asegurado múltiples contratos de perforación direccional por un valor superior a 200 millones de dólares en los países clave. La empresa desplegó su sistema integrado RoyaSteer® Rotary Steerable System y la herramienta RoyaStream® Measurement-While-Drilling, que ya ha perforado más de 70,000 pies en las Américas. Los nuevos contratos abarcan de 3 a 5 años en Arabia Saudita, Omán y Kuwait, lo que permite a NESR implementar estratégicamente sus soluciones de perforación de alta gama.
국가 에너지 서비스 통합(NESR)이 쿠웨이트에서 첫 번째 ROYA 드릴링 캠페인을 성공적으로 완료하고 주요 국가들에서 2억 달러 이상의 가치를 지닌 다수의 방향성 드릴링 계약을 확보했습니다. 이 회사는 통합된 RoyaSteer® 로타리 스티어러블 시스템과 RoyaStream® 시추 중 측정 도구를 배치했으며, 이미 아메리카 대륙에서 70,000피트 이상 시추를 진행했습니다. 새로운 계약은 사우디아라비아, 오만, 쿠웨이트에서 3-5년 동안 진행되며, NESR이 전략적으로 고급 드릴링 솔루션을 구현할 수 있도록 합니다.
National Energy Services Reunited (NESR) a completé avec succès sa première campagne de forage ROYA au Koweït et a sécurisé plusieurs contrats de forage directionnel d'une valeur totale supérieure à 200 millions de dollars dans des pays clés. L'entreprise a déployé son système intégré RoyaSteer® Rotary Steerable System et l'outil RoyaStream® Measurement-While-Drilling, qui a déjà foré plus de 70 000 pieds en Amérique. Les nouveaux contrats s'étendent sur 3 à 5 ans en Arabie Saoudite, à Oman et au Koweït, permettant à NESR de mettre en œuvre de manière stratégique ses solutions de forage haut de gamme.
National Energy Services Reunited (NESR) hat erfolgreich seine erste ROYA-Bohrkampagne in Kuwait abgeschlossen und mehrere Aufträge für Richtbohren im Wert von über 200 Millionen Dollar in Kernländern gesichert. Das Unternehmen setzte sein integriertes RoyaSteer® Rotary Steerable System und das RoyaStream® Measurement-While-Drilling-Werkzeug ein, das bereits über 70.000 Fuß in Amerika gebohrt hat. Die neuen Verträge laufen über 3-5 Jahre in Saudi-Arabien, Oman und Kuwait und ermöglichen es NESR, strategisch seine hochwertigen Bo Lösung zu implementieren.
- Secured multiple drilling contracts worth over $200 million
- Successfully completed first ROYA drilling campaign in Kuwait
- Contracts span 3-5 years across multiple Middle Eastern countries
- Technology proven with over 70,000 feet drilled in Americas
- RoyaSeek® LWD tool successfully deployed in two MEA countries
- None.
Insights
The successful deployment of NESR's ROYA platform and
The strategic significance lies in NESR's evolution from a service provider to a technology solutions company in the competitive Middle Eastern drilling market. The RoyaSteer RSS and RoyaStream MWD technologies position NESR to capture higher-margin contracts in sophisticated drilling operations. The successful deployment validates their 6-year technology development investment and strengthens their competitive position against larger oilfield services companies.
ABU DHABI, UAE / ACCESSWIRE / November 3, 2024 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced that the Company completed its first ROYA drilling campaign successfully in Kuwait. Additionally, the Company secured multiple directional drilling ("DD") awards across its core countries, with a total value exceeding
The successful ROYA deployment in Kuwait marks a key milestone for NESR's integrated RoyaSteer® Rotary Steerable System ("RSS") and RoyaStream® Measurement-While-Drilling ("MWD") tool, with which the team efficiently drilled an entire interval in a single run. The technology passed the internal NESR benchmarks in MEA, following extensive testing in the Americas where the technology has drilled more than 70,000 feet. Similarly, NESR's RoyaSeek® Logging-While-Drilling ("LWD") tool has already been deployed successfully in two countries in MEA.
In conjunction with the successful run, NESR also announced multiple directional drilling awards in Saudi Arabia, Oman, and Kuwait, with total value exceeding
NESR Chairman & CEO Sherif Foda commented, "Coinciding with ADIPEC this week, we are extremely proud to announce the successful ROYA drilling campaign in Kuwait, which represents the culmination of over six years of collaborative directional drilling technology development, from concept to prototype field testing and finally commercial deployment. The successful run is a strong indication of NESR's competitive viability in the sophisticated, high-end drilling market, and while we have more track record to build, I am extremely proud of our entire team for notching this crucial achievement. I would like to express my deep appreciation to our dear customer, for their support of this endeavor and their belief in NESR to enter this challenging tier of directional drilling."
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, the Company's expectations related to its business performance, financial condition and results of operation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the SEC, including those factors discussed under the caption "Risk Factors" in such filings.
About NESR
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in over 15 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.
For inquiries regarding NESR, please contact:
Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com
SOURCE: National Energy Services Reunited Corp
View the original press release on accesswire.com
FAQ
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