National Energy Services Reunited Corp. filings document the reporting of a British Virgin Islands-incorporated energy services company operating in the MENA oilfield services market. Its current reports and foreign private issuer filings cover GAAP financial results, non-GAAP reconciliations, unaudited condensed consolidated interim financial statements, and related exhibits furnished with earnings releases.
NESR's proxy and shareholder-meeting filings describe board elections, advisory executive compensation votes, the frequency of future compensation votes, auditor ratification, governance procedures, and voting results. The filings also provide formal disclosure around operating performance, capital structure, risk presentation, and governance matters tied to its Production Services and Drilling and Evaluation Services business lines.
National Energy Services Reunited Corp. posted a much stronger first quarter of 2026, with higher activity across the MENA region driving solid growth. Revenue rose to $404.6 million from $303.1 million a year earlier, led by increased hydraulic fracturing and well testing work in Saudi Arabia. Net income more than doubled to $23.8 million, and diluted earnings per share increased to $0.23 from $0.11, as gross margins inched up and SG&A costs fell as a share of revenue.
Operating cash flow improved to $30.7 million, while capital expenditures increased to $36.0 million, supporting a growing asset base of $476.2 million in long‑lived assets. NESR ended the quarter with $93.0 million of cash and $287.4 million of outstanding borrowings, and remains in compliance with covenants on its 2021 secured facilities, which it is working to refinance and extend.
Capital expenditure commitments climbed to $75.8 million, reflecting confidence in future demand. The board also approved a capital return program consisting of a planned quarterly dividend of $0.10 per share expected to begin in the fourth quarter of 2026 and authorization to repurchase up to $50.0 million of ordinary shares, subject to market conditions and liquidity. Management highlights geopolitical tensions in the region and ongoing legal proceedings as uncertainties, but views potential related losses as not material to overall financial condition at this time.
National Energy Services Reunited Corp. reported strong first-quarter 2026 results with broad-based growth and new capital return plans. Revenue for the quarter ended March 31, 2026 was $404.6 million, up 33.5% year-over-year and 1.6% sequentially. Net income rose to $23.8 million, improving 129.3% year-over-year and 205.4% sequentially, with diluted EPS increasing to $0.23. Adjusted EBITDA was $76.7 million, up 22.7% year-over-year. Operating cash flow was $30.7 million, while free cash flow was negative $5.3 million due to higher capital expenditures. Cash and cash equivalents were $93.0 million and total debt $287.4 million as of March 31, 2026, resulting in Net Debt of $194.4 million. The company approved a capital return program that includes an expected quarterly dividend of $0.10 per ordinary share starting in the fourth quarter of 2026 and authorization to repurchase up to $50.0 million of ordinary shares.
National Energy Services Reunited Corp. held its 2026 Annual General Meeting on May 7, 2026, where shareholders approved all proposals presented. All five director nominees were elected, each receiving at least 94.5% of votes cast, indicating broad support for the existing board.
Shareholders approved, on an advisory and non-binding basis, the compensation of the company’s named executive officers, with approximately 98.2% of votes cast in favor. They also supported holding future advisory votes on executive compensation every year, with approximately 96.3% of votes cast favoring an annual frequency.
In addition, shareholders ratified the appointment of Grant Thornton Audit and Accounting Limited (Dubai Branch) as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, with 80,153,812 votes for, 754 against and 2,366 abstentions.
NATIONAL ENERGY SERVICES REUNITED CORP disclosure shows that FMR LLC beneficially owned 10,203,889 shares of common stock, equal to 10.1% of the class as of 04/30/2026. The filing notes that Select Energy Portfolio held 6,780,591 shares or 6.7% as of the same date. Ownership is reported on behalf of FMR and under a power of attorney; the filing is an amendment (No. 5) to prior Schedule 13G/A submissions.
Olayan Financing Co has filed an initial Form 3 for National Energy Services Reunited Corp., reporting beneficial ownership of 17,325,258 Ordinary Shares. The filing identifies Olayan Financing Co as a more than ten percent owner and reflects holdings rather than a new purchase or sale.
NATIONAL ENERGY SERVICES REUNITED CORP reports a Schedule 13G/A amendment showing 9,177,042 shares beneficially owned, representing 9.1% of common stock as of 03/31/2026. The filing names FMR LLC (and Abigail P. Johnson in capacity) as reporting persons and discloses that Select Energy Portfolio holds 6,982,491 shares (6.9%) as of that date.
National Energy Services Reunited Corp. is calling its 2026 annual general meeting for May 7, 2026 at 8:00 a.m. Central Daylight Time in Houston, with a simultaneous online webcast. Shareholders of record as of March 10, 2026, when 100,797,004 ordinary shares were outstanding, may vote in person, by proxy, or online.
Investors will vote on four items: re‑electing five directors for one‑year terms, an advisory say‑on‑pay vote, an advisory vote on say‑on‑pay frequency, and ratification of Grant Thornton Audit and Accounting Limited (Dubai Branch) as auditor for 2026. The Board recommends voting for all director nominees, for the 2025 executive compensation, one year for future say‑on‑pay votes, and for the auditor.
The proxy details NESR’s BVI governance framework, board and committee structure, cybersecurity and ESG oversight, and a pay‑for‑performance compensation program. For 2025, adjusted EBITDA was $281 million and year‑end days sales outstanding were 70 days, driving above‑target annual bonuses, including a 170% of salary payout factor for the CEO.
National Energy Services Reunited Corp. (NESR) is a British Virgin Islands–incorporated oilfield services provider focused on the Middle East and North Africa. It offers production services such as hydraulic fracturing, coiled tubing, cementing and artificial lift, and drilling and evaluation services including rigs, directional drilling, fluids, pressure control and wireline.
NESR generated total revenue of $1.32 billion in 2025, up from $1.30 billion in 2024 and $1.15 billion in 2023, with the MENA region contributing the vast majority. Capital expenditures were $143.5 million in 2025, $105.1 million in 2024 and $68.2 million in 2023, primarily to grow its fleet and equipment in Saudi Arabia, Oman, Kuwait and the UAE.
The company is developing its NEDA decarbonization line and Roya™ advanced directional drilling technologies, though these remain early-stage and NEDA results were not material to recent income statements. NESR highlights customer concentration, significant operations in politically sensitive MENA markets, and exposure to oil and gas spending cycles, climate regulation, tax changes and substantial goodwill of $645.1 million as key risks.
Encompass Capital Advisors LLC and related entities filed Amendment No. 4 to a Schedule 13G/A reporting passive ownership of National Energy Services Reunited Corp. ordinary shares as of December 31, 2025. Encompass Capital Advisors LLC reports beneficial ownership of 7,103,284 shares, representing 7.08% of the class.
Encompass Capital Partners LLC and Todd J. Kantor each report beneficial ownership of 5,687,836 shares, or 5.67% of the class, while Encompass Capital Master Fund L.P. reports 4,129,164 shares, or 4.11%. The filing states only shared voting and dispositive power over these shares and certifies that the securities are not held for the purpose of changing or influencing control of the issuer.
National Energy Services Reunited Corp. received an updated ownership report from a shareholder group led by Mubbadrah Investment LLC. The group now reports beneficial ownership of 4,278,532 ordinary shares, representing 4.25% of the company’s ordinary shares outstanding as of September 30, 2025.
The amendment states that Mubbadrah sold 867,478 ordinary shares in open-market transactions between November 5, 2025 and January 22, 2026. As a result, the reporting persons ceased to be beneficial owners of more than 5% of the company’s ordinary shares, and this filing is characterized as an exit filing for them.