Expro Group Holdings Nv Stock Price, News & Analysis

Expro (NYSE: XPRO) has successfully deployed its innovative Catwalk Sensor technology across its United States land operations, marking a significant advancement in rig floor safety. The technology, developed by Frank's Tubular Running Services division, emits real-time audible alerts when pipe enters the V-door area of manual rig environments.

The standalone system is designed for easy installation and maintenance on rigs using catwalk or slingshot pipe handling systems. Already making an impact in North Latin America, the technology shows potential for enhancing safety across global land rigs where modern systems are still being implemented.

Expro Group Holdings (NYSE: XPRO) announced equity inducement grants to its new Chief Financial Officer, Sergio Maiworm, effective June 30, 2025. The compensation package includes 286,041 time-based restricted stock units (RSUs) valued at $2.5 million, vesting on June 30, 2028.

Additional grants include 42,792 time-based RSUs valued at $374,000 vesting in three annual installments from June 30, 2026, and 64,188 performance-based RSUs (PRSUs) with a target value of $561,000. The PRSUs will vest based on relative stockholder return performance through December 31, 2027, with potential earnings ranging from 0% to 200% of target.

Expro (NYSE: XPRO) has secured a significant contract with the Northern Endurance Partnership (NEP) to provide integrated well testing services for a major carbon capture and storage project in the UK. The contract involves appraising two wells in the Endurance reservoir, which has a 450m tonnes CO2 storage capacity. Expro will collaborate with Baker Hughes and Metrol Technology to deliver a comprehensive CCS appraisal solution. The project is part of the East Coast Cluster initiative and is crucial for meeting UK Government's CCS targets of 20-30 million tonnes CO2/year by 2030. The contract will support local jobs in North-East Scotland and strengthen the UK energy supply chain. Expro brings over 20 years of CCS experience and 50+ years of North Sea industry expertise to this project.

Expro (NYSE: XPRO) has achieved a significant milestone with the first deployment of its Autonomous iTONG™ system in Sub-Sahara Africa, specifically for offshore operations in Côte d'Ivoire's Baleine field. The innovative tubular running services (TRS) technology has demonstrated remarkable efficiency improvements, cutting connection make-up times by 50% and completing 'park-to-park' connections in just 90 seconds, compared to 180 seconds with previous technologies. This advancement has resulted in approximately $200,000 in cost savings per well project. The iTONG™ system enhances safety by eliminating the need for personnel in hazardous rig floor areas and can be operated remotely from the driller's cabin. The technology, first introduced in Norway in 2021, has been implemented on the Deep Value Driller drillship for client Eni, marking its first deepwater deployment and contributing to reduced CO₂ emissions through improved operational efficiency.

Expro (NYSE: XPRO) has secured multi-year Tubular Running Services (TRS) contracts with two leading Super-Major operators in the Gulf of America, with a collective value exceeding $80 million. The contracts cover both deepwater drill ships and platform rigs, integrating Expro's advanced technologies including the award-winning Centri-FI platform.

The implementation includes Expro's Rig Integration "Driller's Control" Package, iTong, and completions technologies to support upcoming developments, including 20K developments. Centri-FI serves as the operational hub, focused on improving efficiency through personnel reduction, eliminating red zone entries, and enhancing performance repeatability.

Expro Group Holdings reported solid Q1 2025 financial results with revenue of $391 million and Adjusted EBITDA of $76 million, marking their highest first-quarter EBITDA since the Expro/Frank's merger in Q4 2021. The company achieved a net income of $14 million with a 4% margin, improving from -1% in Q1 2024.

Notable achievements include securing $272 million in new contracts, including a $50 million Tubular Running Services contract in the Gulf of America. The company successfully deployed advanced technologies like CENTRI-FI™ in Indonesia and the Blackhawk Generation-X Rotational Plug Launcher in Norway.

Looking ahead, Expro projects Q2 2025 revenue between $400-410 million and Adjusted EBITDA of $80-90 million. While 2025 is considered a transition year, management remains cautiously optimistic about near-term prospects while expressing confidence in medium to long-term growth potential.

Expro Group Holdings (NYSE: XPRO) has announced its upcoming first quarter 2025 earnings conference call, scheduled for April 30, 2025, at 10:00 a.m. Central Time. The company will release its financial results for the quarter ended March 31, 2025, before the market opens on the same day.

The earnings release and presentation slides will be available on Expro's investor relations website prior to the call. Participants can pre-register for the call or join using the provided dial-in numbers: US: +1 833 470 1428, International: +1 404 975 4839 (Access code: 079161).

An audio replay will be accessible approximately 3 hours after the call's conclusion until May 14, 2025, via the company's website or by phone using US dial-in numbers 1 866 813 9403 or 1 929 458 6194 (Access ID: 923107).

Expro (NYSE: XPRO) has secured contracts worth over $10 million USD from OMV Petrom for the Neptun Deep gas project in the Black Sea, Romania. The contracts encompass the provision of subsea landing string, SeaCure® cementing technology, tubular running services, and Coretrax Advance drilling tools.

The Neptun Deep project, positioned as the largest natural gas development in the Romanian Black Sea, is important for Romania's energy supply. As part of its expansion strategy in Romania, Expro has made significant investments including:

• Opening a new office in Bucharest
• Establishing a new operational base
• Implementing a program to expand Romanian-based staff

Expro, with over 8,000 employees operating in approximately 60 countries, provides energy services across the entire well life cycle, including well construction, flow management, subsea well access, and well intervention and integrity solutions.