NESR Awarded $300 Million in Cementing Contracts

Rhea-AI Summary

National Energy Services Reunited Corp (Nasdaq:NESR) said it secured several multi-year Cementing contracts valued at approximately USD $300 million, strengthening its MENA cementing leadership for the next five years. Awards include a significant contract in Kuwait and multiple awards across North Africa, supporting expansion into Libya and beyond.

The company attributes the awards to regional activity trends, its Gulf-scale cementing capabilities, and strategic counter-cyclical investments.

Positive

• $300 million in multi-year cementing contracts
• Contracts secure cementing leadership for the next five years
• Major award establishes a solid Kuwait presence
• New North Africa awards enable rapid expansion into Libya

Negative

• Awards are forward-looking and subject to risks and uncertainties per company cautionary statement

Key Figures

Cementing contract value: USD $300 million Contract duration: five years Employees: over 7,000 +3 more

6 metrics

Cementing contract value USD $300 million Multi-year Cementing awards across Kuwait and North Africa

Contract duration five years Awards solidify Cementing position in MENA for next five years

Employees over 7,000 Workforce across MENA and Asia Pacific regions

Employee nationalities more than 60 Diverse workforce composition

Countries of operation 16 countries NESR operating footprint

Founded 2017 Year NESR was founded

Market Reality Check

Price: $19.14 Vol: Volume 2,493,462 is rough...

normal vol

$19.14 Last Close

Volume Volume 2,493,462 is roughly in line with 20-day average 2,553,113. normal

Technical Price 19.14 is trading above 200-day MA at 12.53, indicating a prior uptrend into this contract win.

Peers on Argus

NESR was modestly lower -0.67% ahead of the news, while close peers showed mixed...

NESR was modestly lower -0.67% ahead of the news, while close peers showed mixed moves (e.g., RES +0.15%, INVX +0.21%, VTOL -0.42%, HLX -0.23%, WTTR +0.72%), pointing to stock-specific rather than broad sector positioning.

Historical Context

5 past events · Latest: Feb 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 17	Q4 2025 earnings	Positive	+16.0%	Reported strong Q4 revenue and adjusted profitability with improved net debt.
Feb 11	Earnings date notice	Neutral	+3.8%	Announced timing and webcast details for upcoming Q4 2025 earnings release.
Jan 05	Conference participation	Positive	+2.9%	Outlined participation in multiple 2026 investor and industry conferences and events.
Dec 22	Sustainability initiative	Positive	+1.1%	Showcased recycled produced‑water artwork to highlight sustainability focus in operations.
Dec 01	Major frac contract	Positive	+0.1%	Celebrated multi‑billion unconventional frac contract with five‑year term tied to Jafurah.

Pattern Detected

Recent news—especially operational and earnings updates—has generally coincided with positive single-day price reactions.

Recent Company History

Over the last six months, NESR has reported strong operational and financial momentum. Q4 2025 results on Feb 17, 2026 showed revenue of $398.3 million and a solid positive price reaction. Earlier, NESR highlighted a multi‑billion unconventional frac contract tied to the Jafurah tender and expanded visibility via multiple investor conferences. The company also emphasized sustainability initiatives and produced‑water reuse. Today’s ~$300 million multi‑year cementing awards extend this pattern of sizable MENA contract wins that reinforce its regional production‑services footprint.

Market Pulse Summary

This announcement highlights NESR securing multi‑year cementing contracts in Kuwait and North Africa...

Analysis

This announcement highlights NESR securing multi‑year cementing contracts in Kuwait and North Africa valued at about $300 million, reinforcing its leading MENA position in this segment for the next five years. In recent months, the company has paired sizeable contract wins with solid Q4 2025 financials and active conference engagement. Investors may watch upcoming filings and updates for details on contract margins, capital needs, and how these awards integrate with NESR’s broader production and drilling‑services portfolio.

Key Terms

forward-looking statements, risk factors, hydraulic fracturing, directional drilling

4 terms

forward-looking statements regulatory

"Cautionary Statement Regarding Forward-Looking StatementsStatements contained in this press release..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

risk factors regulatory

"including those factors discussed under the caption "Risk Factors" in such filings."

Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

hydraulic fracturing technical

"Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing..."

Hydraulic fracturing is a method for extracting oil and natural gas that involves injecting pressurized fluid and small solid particles into underground rock to create and hold open tiny cracks, allowing trapped fuel to flow to a well. For investors, it matters because successful fracturing can sharply increase a well’s output and revenue potential, while also carrying higher upfront costs, regulatory scrutiny, and environmental risks that can affect a company’s value.

directional drilling technical

"Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling..."

Directional drilling is a method of guiding a drill to follow a specific path underground, rather than drilling straight down. This technique allows companies to reach oil and gas deposits that are not located directly beneath the surface, often avoiding obstacles or reaching multiple targets from a single surface point. For investors, it means more efficient resource extraction and potentially lower costs, which can impact the profitability of energy companies.

AI-generated analysis. Not financial advice.

HOUSTON, TX / ACCESS Newswire / March 16, 2026 / National Energy Services Reunited Corp. ("NESR" or the "Company") (Nasdaq:NESR) an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced that it has secured several, multi-year Cementing contract awards valued at approximately USD $300 million.

These contracts, which solidify NESR's leading MENA position in Cementing for the next five years, encompass a significant award in Kuwait and several prominent awards in North Africa. The awards are reflective of the positive activity trends across the region, and leverage both NESR's existing Cementing leadership across the Gulf, as well as the Company's strategic, counter-cyclical investment commitment.

Sherif Foda, Chairman and Chief Executive Officer said, "Based on our philosophy of fortifying our biggest segments in core countries and pulling-through these capabilities to new areas, we are pleased to see these new awards that solidify our leading position in Cementing for years to come. The benefit of regional scale in segments like Cementing include operational agility and the ability to enhance our offering with new technologies. We're honored to now have such a solid position in Kuwait, and humbly thank our dearest clients for their trust. New awards across North Africa demonstrate our ability to expand quickly outside of our core Gulf footprint, and underscore the growth potential in Libya and beyond."

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, each as amended. 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.

You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update any forward-looking statements to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.

About National Energy Services Reunited Corp.

Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 7,000 employees, representing more than 60 nationalities in 16 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 media inquiries, please contact:

Lubna Hamdan
National Energy Services Reunited Corp.
lubna@nesr.com

For inquiries regarding NESR, or for investor queries, 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 ACCESS Newswire

FAQ

What contracts did NESR announce on March 16, 2026 and what is their value?

NESR announced several multi-year Cementing contracts valued at approximately USD $300 million. According to the company, the awards span Kuwait and multiple North Africa locations and underpin its cementing position over the next five years.

How long will the NESR cementing contracts awarded March 16, 2026 support operations?

The company says the contracts solidify its cementing position for the next five years. According to NESR, the multi-year nature provides predictable activity and supports regional scale and operational agility across MENA markets.

Which regions are included in NESR's March 16, 2026 cementing awards (Nasdaq:NESR)?

Awards include a significant contract in Kuwait and several awards across North Africa. According to NESR, the North Africa awards support quick expansion notably into Libya and nearby markets.

What strategic benefits did NESR cite for the $300 million cementing wins?

NESR highlighted regional scale, operational agility, and technology enhancement as strategic benefits of the awards. According to the company, these contracts leverage its Gulf leadership and counter-cyclical investment stance to expand service reach.

Do the NESR cementing contracts announced March 16, 2026 guarantee future performance?

No; NESR cautioned that forward-looking statements are subject to risks and uncertainties and do not guarantee future results. According to the company, readers should consult SEC filings for related risk factors.

What does the Kuwait award mean for NESR shareholders and market position?

The Kuwait award establishes a solid foothold in a core Gulf market and reinforces regional cementing leadership. According to NESR, this contract, combined with North Africa awards, supports growth and scale across its MENA operations.