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National Energy Services Reunited Corp (NESR) provides essential oilfield services across the Middle East, North Africa, and Asia Pacific regions. This news hub offers investors and industry professionals direct access to the company's latest financial updates, operational developments, and strategic initiatives.
Track official press releases covering quarterly earnings, technology deployments in drilling evaluation, and regional expansion efforts. Our curated collection includes updates on production services like hydraulic fracturing operations and cementing projects, along with drilling innovations supporting energy producers in complex reservoirs.
Key updates feature partnerships with national oil companies, advancements in water treatment solutions, and operational efficiency milestones. Bookmark this page for real-time notifications about tender awards, equipment fleet expansions, and leadership announcements impacting the energy services sector.
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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.
Petroleum Development Oman (PDO) has partnered with Gulf Energy SAOC (GES) to create 600 job opportunities for Omanis over the next four years. As part of its In-Country Value program, PDO will employ 150 Omanis annually in various fields, including Wells Construction and Industrial Services. This initiative supports Oman Vision 2040 by enhancing local capabilities and job localization. The agreement was signed under the auspices of the Minister of Energy and Minerals, further affirming commitment to developing the Omani workforce both locally and internationally.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) will participate virtually in the Capital One Securities 15th Annual Energy Conference from December 7 to 9, 2020. The senior management team will be available for one-on-one meetings with investors during the event. Founded in 2017, NESR is a leading provider of integrated energy services in the Middle East, North Africa, and Asia Pacific, employing over 5,000 professionals across 15 countries. The company offers a range of Production and Drilling Services.
National Energy Services Reunited Corp. (NESR) reported strong financial results for Q3 2020, with revenue of $218 million, marking a 35% year-over-year increase. Net income rose to $12 million, an 11% increase sequentially, while diluted EPS was $0.13. The adjusted EBITDA reached $56 million, up 17% year-over-year. Free cash flow improved to $9 million. The acquisition of Sahara Petroleum Services was finalized, and the company has plans for further contract awards. Cash and equivalents stood at $50.5 million.
National Energy Services Reunited Corp. (NASDAQ:NESR, NASDAQ:NESRW) announced significant contract extensions and awards valued over $1 billion with Gulf Energy SAOC in Oman by Petroleum Development of Oman (PDO). The contracts cover Cementing, Coil Tubing, Stimulation, and more, extending up to nine years with a main term of five years. These awards reinforce NESR’s presence in Oman, facilitating growth and technology advancements while supporting local workforce development as part of its ESG strategy.
National Energy Services Reunited Corp. (NESR) announced that it will release its third quarter 2020 financial results on October 28, 2020. A conference call is scheduled for 8:00 AM ET the same day to discuss these results. NESR is a key player in oilfield services within the MENA and Asia Pacific regions, providing essential production and drilling services. Founded in 2017, the Company employs over 5,000 personnel across multiple countries, focusing on helping clients maximize their reservoir efficiency.
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