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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) has secured multiple contracts exceeding USD $150 million in several Drilling & Evaluation service lines across key Gulf Cooperation Council (GCC) countries. These multi-year contracts include services like Slickline, Tubular Running, and Testing with national oil companies. CEO Sherif Foda noted the MENA region's potential for a multi-year upcycle in oil production capacity. NESR aims to enhance its Evaluation services using advanced technologies and is committed to sustainability initiatives, including reducing flaring during operations.
NESR (NASDAQ:NESR, NESRW) has partnered with Ulterra Drilling Technologies to deploy PDC drill bits across the MENA and Asia regions. This collaboration aims to enhance drilling optimization and expand customer reach. John Clunan, CEO of Ulterra, emphasized the partnership's potential to increase sales and improve performance. Sherif Foda, CEO of NESR, highlighted the agreement as a key addition to their Drilling Services portfolio. Established in 2017, NESR is a major oilfield services provider in the MENA and Asia Pacific regions, offering comprehensive energy services.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) announced its participation in the United Nations Global Compact, reinforcing its commitment to responsible business practices. This voluntary initiative aligns companies with ten principles covering human rights, labor, environment, and anti-corruption. With over 9,000 companies in 160 countries involved, NESR aims to embed these principles into its operations, enhancing governance and sustainability since its inception in 2017. The company, a prominent oilfield service provider, is dedicated to driving corporate responsibility forward.
Cactus, Inc. (NYSE: WHD) and National Energy Services Reunited Corp. (NASDAQ: NESR) have entered an agreement to provide and deploy Cactus frac rental equipment in the Middle East. This collaboration aims to leverage Cactus' innovative products and NESR's extensive market presence to enhance unconventional oil and gas development in the region. Cactus CEO Scott Bender expressed optimism about growth prospects, while NESR CEO Sherif Foda highlighted the significance of their partnership for delivering efficient services to customers. Both companies anticipate a significant value addition for their clients.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) has entered into a collaboration with Cactus, Inc. (NYSE:WHD) to provide frac rental equipment in the Middle East. This partnership aims to leverage Cactus' technology and NESR's extensive market access, enhancing oil and gas operations in the region. Cactus' CEO emphasized potential growth in MENA's unconventional oil and gas development. NESR, with over 5,000 employees, aims to unlock reservoir potential through various integrated energy services, positioning itself for future growth.
National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced participation in several investor conferences scheduled for September 2021. The events include the NBF 9th Annual Energy Conference on September 1, Barclays CEO Energy-Power Conference on September 8 at 11:30 AM ET, and Peters & Co. Limited 25th Annual Energy Conference from September 14-16. NESR, a leading provider of integrated energy services in the MENA and Asia Pacific regions, aims to showcase its offerings in hydraulic fracturing, drilling services, and more through these platforms.
National Energy Services Reunited Corp. (NESR) reported 16% year-over-year revenue growth for Q2 2021, totaling $235 million. Free cash flow was $12 million, while net income reached $8 million. Adjusted EBITDA improved to $54 million, reflecting a 7% increase from the prior quarter. Diluted earnings per share (EPS) were $0.08, with adjusted EPS at $0.14 after accounting for charges. The company continues to enhance its operations with a successful integration of acquired services, solidifying its presence in Kuwait. Cash and cash equivalents stood at $66.1 million.
National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) will release its second quarter financial results on August 4, 2021. A conference call will take place at 8:00 AM ET to discuss the results. Interested parties can participate via U.S. toll-free and international lines, or join the live webcast available on the company's website. Founded in 2017, NESR provides integrated energy services across the MENA and Asia Pacific regions, with over 5,000 employees operating in more than 15 countries.
National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced significant contract awards totaling up to $150 million from major international oil companies in the Middle East and North Africa (MENA) region. The contracts, focused on Integrated Rigless Services and Drilling and Completion Fluids, will be executed over the next three years. CEO Sherif Foda emphasized that these awards demonstrate NESR's capacity for complex multi-service operations, enhancing its competitiveness in the region and expanding its service offerings.
National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced participation in key investor conferences, enhancing its visibility in the MENA and Asia Pacific energy sectors. The senior management team will attend the Tudor, Pickering, Holt & Co. 2021 Hotter 'N Hell Energy Conference on June 10, 2021, and the J.P. Morgan Energy, Power & Renewables Conference on June 22-23, 2021, with Sherif Foda presenting on June 22 at 2:00 PM ET. NESR, established in 2017, employs over 5,000 staff across 15 countries, providing critical oilfield services.
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