National Energy Services Reuni Stock Price, News & Analysis

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced significant contract awards totaling up to $150 million from major international oil companies in the Middle East and North Africa (MENA) region. The contracts, focused on Integrated Rigless Services and Drilling and Completion Fluids, will be executed over the next three years. CEO Sherif Foda emphasized that these awards demonstrate NESR's capacity for complex multi-service operations, enhancing its competitiveness in the region and expanding its service offerings.

National Energy Services Reunited Corp. (NASDAQ:NESR, NESRW) announced participation in key investor conferences, enhancing its visibility in the MENA and Asia Pacific energy sectors. The senior management team will attend the Tudor, Pickering, Holt & Co. 2021 Hotter 'N Hell Energy Conference on June 10, 2021, and the J.P. Morgan Energy, Power & Renewables Conference on June 22-23, 2021, with Sherif Foda presenting on June 22 at 2:00 PM ET. NESR, established in 2017, employs over 5,000 staff across 15 countries, providing critical oilfield services.

National Energy Services Reunited Corp. (NESR) reported preliminary unaudited financial results for Q1 2021, achieving a revenue of $212 million, a 7% increase year-over-year, and flat quarter-over-quarter. Operating income rose by 29% to $16 million, while Adjusted EBITDA amounted to $50 million. The company generated $47 million in net cash from operating activities, a $38 million improvement year-over-year. Free cash flow reached $37 million, improving by $50 million year-over-year. NESR also announced the successful closure of a strategic acquisition in Kuwait, enhancing its operational capabilities.

National Energy Services Reunited Corp. (NESR) will announce its financial results for Q1 2021 on May 6, 2021. A conference call is scheduled for 8:00 AM ET, where management will discuss the results. Investors, analysts, and media can participate via a U.S. toll-free line or an international line, or they can listen online through the company's website. NESR is a prominent oilfield services provider in the MENA and Asia Pacific regions, offering comprehensive services to enhance reservoir productivity.

National Energy Services Reunited Corp. (NESR) has partnered with Beyond Energy Services and Technology to provide Managed Pressure Drilling (MPD) services across the Middle East, Asia, and Africa. This strategic collaboration aims to leverage NESR's extensive operations and customer engagement to enhance MPD services in key markets. NESR's CEO, Sherif Foda, stated that this partnership is timely, addressing customers' needs for advanced drilling solutions. Both companies aim to advance drilling technology with innovative automation and field expertise, marking a significant step in expanding NESR's service portfolio.

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.