Welcome to our dedicated page for Expro Group Holdings Nv news (Ticker: XPRO), a resource for investors and traders seeking the latest updates and insights on Expro Group Holdings Nv stock.
News for Expro Group Holdings N.V. (NYSE: XPRO) centers on its role as an energy services company working across the well life cycle, with a focus on well construction, well flow management, subsea well access, and well intervention and integrity solutions. Company announcements highlight operational milestones, technology launches, regional contract awards, and quarterly financial results.
Readers following XPRO news can see updates on specialized technologies such as the BRUTE® Armor Packer for deepwater wells, the Blackhawk® Gen III Wireless Top Drive Cement Head with SKYHOOK® technology, and the Generation-X™ Remote Plug Launcher combined with SkyHook™ for remote, multi-plug cementing operations. Expro also reports on developments like the Remote Clamp Installation System for smart well completions, the ELITE Composition™ fluids analysis service at the rig site, the VIGILANCE™ safety and surveillance solution, and Velonix™ for pipeline pig control.
Company news often covers international activity across its North and Latin America, Europe and Sub-Saharan Africa, Middle East and North Africa, and Asia-Pacific segments. Examples include offshore projects in the Gulf of America, cementing operations in Saudi Arabia, work in the North Sea, and contracts in regions such as Angola, Brazil, Alaska, and Indonesia. Earnings releases and conference call notices provide insight into Expro’s financial performance, capital allocation, and commentary on offshore and international markets.
Investors, analysts, and industry participants can use this news feed to monitor Expro’s technology milestones, contract wins, safety recognitions, and quarterly updates, helping them understand how the company applies its well life cycle capabilities in key oil and gas basins worldwide.
Expro (NYSE: XPRO) has announced the acquisition of cementing specialist DeltaTek Global. This strategic move enhances Expro's capabilities in the well construction cementing sector and supports DeltaTek's international expansion goals using Expro's global network. DeltaTek, based in Aberdeen, focuses on low-risk cementing technologies, improving operational efficiency and cost-effectiveness. Expro's acquisition aims to streamline the deployment of DeltaTek's innovative solutions across various markets including the Gulf of Mexico and Asia Pacific. The CEO of DeltaTek expressed optimism for leveraging Expro's customer base to enhance service adoption.
Expro Group Holdings N.V. (NYSE: XPRO) has announced the pricing of an underwritten offering of 8,000,000 shares of its common stock at $16.50 per share, upsized from a previous offering of 7,250,000 shares. The offering, led by Goldman Sachs and J.P. Morgan as joint book-running managers, is set to close on January 18, 2023. Importantly, Expro will not receive any proceeds from this offering, as the shares are being sold by affiliated funds managed by Oak Hill Advisors.
Expro Group Holdings N.V. (NYSE: XPRO) has initiated an underwritten offering of 7,250,000 shares of common stock owned by affiliated funds of Oak Hill Advisors. The underwriters have a 30-day option to purchase an additional 1,087,500 shares. Importantly, Expro will not sell any shares or receive proceeds from this offering. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunning managers for the offering. Expro has an effective shelf registration statement with the SEC, and interested investors should review the relevant prospectus documents before making any investment decisions.
Expro (NYSE: XPRO) has secured a $50 million contract with Apache Corporation for well intervention and integrity services in the North Sea over three years, with two optional one-year extensions. The contract involves operations across Apache's Beryl and Forties assets, including new technologies like Octopoda and Distributed Fiber Optic Sensing. This agreement demonstrates Expro's long-term commitment to the UK continental shelf and reflects their ongoing partnership with Apache spanning two decades.
Expro Group Holdings N.V. (NYSE: XPRO) reported Q3 2022 financial results with revenues of $334 million, a 7% increase from Q2 2022. The net loss widened to $18 million from $4 million in the previous quarter. Adjusted EBITDA decreased by 6% to $48 million, impacted by high startup costs on a subsea project. The company achieved $62 million in cost synergies, exceeding initial targets. Expro expects Q4 revenues between $325 million and $350 million and aims for an EBITDA margin of approximately 20%.
Expro Group Holdings N.V. (NYSE: XPRO) will hold a conference call on November 3, 2022, to discuss its quarterly results for the period ending September 30, 2022. The call will begin at 10:00 a.m. CT and will feature a press release published before market opening. Interested participants can pre-register for the call or join via dial-in or live webcast on the Investor Relations section of Expro's website. Following the call, an audio replay will be available for 12 months.
Expro provides energy services globally, focusing on safety and innovative solutions.
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Expro has secured funding for two carbon-reduction projects as part of the Net Zero Technology Centre’s 2022 Open Innovation Program, aimed at enhancing clean energy solutions. The £8 million fund was awarded to 20 selected projects from 154 entries, focusing on venting and flaring technologies. Expro's projects include real-time flare emissions measurement and a solution for well testing without flaring, demonstrating its commitment to net zero. The successful projects could deliver £7.8 billion in Gross Value Added and reduce annual CO2 emissions by 3.1 million tonnes.
Expro (NYSE: XPRO), a leading energy services provider, has completed Ireland's first indigenous gas wells' plug and abandonment (P&A). Over eight months, Expro delivered integrated subsea and well test services using its ELSA system, achieving 3,000 successful global operations with 100% operational uptime and zero non-productive time. This performance bolsters Expro's position in subsea P&A solutions, enhancing its track record. The company emphasizes its commitment to safety and environmental standards throughout the project's execution.
Expro (NYSE: XPRO) has developed the iTONG™ system, a digital technology aimed at reducing CO2 emissions by an estimated 146 tons annually, equivalent to 58 transatlantic flights. The iTONG system automates tubular running services, saving operators nearly $2 million annually and around 50 hours of rig time per installation. This innovation not only enhances safety and efficiency but also aligns with Expro's commitment to achieving Net Zero by 2050. The technology has been successfully trialed in the North Sea, marking a significant advancement in the oil and gas sector.