Welcome to our dedicated page for National Energy Services Reuni news (Ticker: NESR), a resource for investors and traders seeking the latest updates and insights on National Energy Services Reuni stock.
National Energy Services Reunited Corp (NESR) provides integrated oilfield services across the Middle East, North Africa, and Asia Pacific regions. This dedicated news hub offers investors and industry professionals direct access to official updates about the company's production services, drilling innovations, and strategic developments.
Track critical announcements including quarterly earnings, technology deployments like the ROYA drilling platform, regional expansions, and operational milestones. Our curated collection ensures timely access to NESR's hydraulic fracturing advancements, directional drilling solutions, and reservoir optimization strategies.
Discover updates across key business segments: production enhancement services, drilling technology improvements, water management solutions, and safety protocol updates. Bookmark this page for streamlined monitoring of NESR's progress in delivering integrated energy solutions to national oil companies and multinational operators.
National Energy Services Reunited Corp. (NESR) announced the successful negotiation of contract extensions worth $100 million for its subsidiary, Gulf Energy, in Oman. These contracts, extending up to five years, reflect the company's strong service delivery and trust with clients amidst an improving oilfield services market. NESR CEO Sherif Foda emphasized the company's commitment to 'Omanization' and local talent development as part of its broader localization strategy. The extensions indicate NESR's reliability and innovative technology application, enhancing operational decarbonization.
Founded in 2017, NESR operates across MENA and Asia Pacific, providing a range of energy services to optimize reservoir potential. The company prides itself on having over 5,000 employees from more than 60 nationalities.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) has inaugurated its NESR Oilfield Research & Innovation (NORI) Center in Dharan Techno Valley, Saudi Arabia. This facility aims to enhance energy sector research across the MENA region and aligns with Saudi Arabia's Vision 2030. The NORI Center features advanced labs, including a Reservoir Characterization lab and an AI-based Operational Intelligence lab, focusing on hydraulic fracturing and drilling products. The center will also support key environmental, social, and governance (ESG) initiatives. CEO Sherif Foda emphasized the center's role in connecting capital, human resources, and technological advancement.
National Energy Services Reunited Corp. (NESR) has secured a long-term Wireline Services contract in Saudi Arabia, enhancing its service offerings over a nine-year term. This contract will allow NESR to provide advanced Cased-Hole & perforation services, showcasing innovative technologies in the Wireline segment. CEO Sherif Foda emphasized the strategic importance of this contract in diversifying their technology portfolio. NESR, a leading oilfield services provider in the MENA region, aims to leverage this opportunity to strengthen its market position and enhance operational capabilities.
National Energy Services Reunited Corp. (NASDAQ:NESR)(NASDAQ:NESRW) announced receipt of a determination letter from Nasdaq on January 4, 2023, stating it is not in compliance with listing requirements due to unfiled financials for June 30, 2022, and failure to hold a required annual meeting. The company must respond to Nasdaq by January 11, 2023, and is working to file its 2021 20-F report by April 25, 2023, to regain compliance. NESR faces additional scrutiny regarding past financial statements that need restatement.
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