National Energy Services Reunited Corp. Warrant - NESRW STOCK NEWS

National Energy Services Reunited Corp. (NESR) has announced a preliminary agreement to acquire specific oilfield service lines from Action Energy Company in Kuwait, valued at over $200 million. The initial cash payment is approximately $36 million, with an additional $13 million due six months post-closing, totaling around $50 million. The acquisition, expected to close in the second quarter of 2021, positions NESR as a leading provider in Kuwait's oil services sector and expands its operational capabilities across drilling and production.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) has announced the successful launch of its Directional Drilling operations in the Middle East, collaborating with PHX Energy Services Corp. This initiative marks a significant achievement, breaking existing records through the use of PHX's advanced technology. The collaboration aims to enhance operational efficiencies for regional operators, showcasing NESR's open-source technology strategy. With a workforce exceeding 5,000 across 15 countries, NESR continues to position itself as a leading provider of energy services in the MENA region.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) will participate in two upcoming virtual investor conferences. The first is the Credit Suisse 26th Annual Virtual Energy Summit from March 1-3, 2021, where Sherif Foda, Chairman and CEO, will host a Fireside Chat on March 1 at 11:40 AM CT. The second event is the Simmons Energy 21st Annual Energy Conference on March 22-23, 2021. NESR is a leading energy services provider in the MENA and Asia Pacific regions, focusing on enhancing reservoir production and efficiency.

National Energy Services Reunited Corp. (NESR) reported strong financial results for Q4 2020. Total revenue reached $213 million, a 15% year-over-year increase, although it decreased 2% from Q3. Full-year revenue totaled $834 million, up 27% year-over-year. Net income surged 344% to $17 million in Q4, with adjusted net income at $18 million. Diluted EPS rose to $0.18, and adjusted diluted EPS was $0.20. Free cash flow improved to $33 million, reflecting better cash management amidst pandemic challenges.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) will announce its Q4 2020 financial results on February 24, 2021, followed by a conference call at 8:00 AM ET. The company offers integrated energy services across the MENA and Asia Pacific regions, providing production and drilling services aimed at optimizing reservoir potential. With over 5,000 employees across 15 countries, NESR plays a prominent role in the oilfield services sector.

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.