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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 a significant five-year contract for Testing Services in Kuwait, marking its entry into the Evaluation services sector in the region. This contract aligns with NESR's strategy to diversify and strengthen its portfolio in Kuwait, where it already holds Drilling and Production contracts. CEO Sherif Foda emphasized the company's commitment to superior quality services and thanked clients for their trust. NESR is a prominent player in the oilfield services industry across MENA, employing over 5,000 people.
National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) will participate in two key virtual investor conferences in January 2021. On January 7, Sherif Foda, the Company’s CEO, will engage in a Fireside Chat at the National Bank Financial 11th Annual Energy Conference. Additionally, Foda will present at the Peters & Co. 28th Annual Winter Energy Conference on January 13 at 1:40 PM CT. Established in 2017, NESR is a leading oilfield services provider in the MENA and Asia Pacific, employing over 5,000 professionals across more than 15 countries.
Petroleum Development Oman (PDO) has partnered with Gulf Energy SAOC (GES) to create 600 job opportunities for Omanis over the next four years. As part of its In-Country Value program, PDO will employ 150 Omanis annually in various fields, including Wells Construction and Industrial Services. This initiative supports Oman Vision 2040 by enhancing local capabilities and job localization. The agreement was signed under the auspices of the Minister of Energy and Minerals, further affirming commitment to developing the Omani workforce both locally and internationally.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) will participate virtually in the Capital One Securities 15th Annual Energy Conference from December 7 to 9, 2020. The senior management team will be available for one-on-one meetings with investors during the event. Founded in 2017, NESR is a leading provider of integrated energy services in the Middle East, North Africa, and Asia Pacific, employing over 5,000 professionals across 15 countries. The company offers a range of Production and Drilling Services.
National Energy Services Reunited Corp. (NESR) reported strong financial results for Q3 2020, with revenue of $218 million, marking a 35% year-over-year increase. Net income rose to $12 million, an 11% increase sequentially, while diluted EPS was $0.13. The adjusted EBITDA reached $56 million, up 17% year-over-year. Free cash flow improved to $9 million. The acquisition of Sahara Petroleum Services was finalized, and the company has plans for further contract awards. Cash and equivalents stood at $50.5 million.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) announced significant contract extensions and awards valued over $1 billion with Gulf Energy SAOC in Oman by Petroleum Development of Oman (PDO). The contracts cover Cementing, Coil Tubing, Stimulation, and more, extending up to nine years with a main term of five years. These awards reinforce NESR’s presence in Oman, facilitating growth and technology advancements while supporting local workforce development as part of its ESG strategy.
National Energy Services Reunited Corp. (NESR) announced that it will release its third quarter 2020 financial results on October 28, 2020. A conference call is scheduled for 8:00 AM ET the same day to discuss these results. NESR is a key player in oilfield services within the MENA and Asia Pacific regions, providing essential production and drilling services. Founded in 2017, the Company employs over 5,000 personnel across multiple countries, focusing on helping clients maximize their reservoir efficiency.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) will participate virtually at the Peters & Co. Limited 2020 Energy Conference from September 14 to September 17, 2020. The senior management team will engage in one-on-one meetings with investors, while Sherif Foda, Chairman and CEO, is set to present on September 17 at 9:50 AM CT. Founded in 2017, NESR provides industry-leading integrated energy services in the Middle East, North Africa, and Asia Pacific, employing over 5,000 staff across 15 countries.
National Energy Services Reunited Corp. (NESR) announced its participation in several upcoming virtual investor conferences. CEO Sherif Foda will present at the NBF 8th Annual Energy Conference on September 2, 2020, at 2:00 PM CT. He will also present at the Simmons Energy Gleneagles Energy Conference on September 3, 2020, and the Barclays CEO Energy-Power Conference on September 8, 2020, at 1:25 PM CT.
Founded in 2017, NESR is a leading oilfield services provider in the MENA and Asia Pacific regions, offering a range of production and drilling services.
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