National Energy Services Reunited

National Energy Services Reunited Corp. is a holding company, which engages in the provision of oilfield services. It operates through the following segments: Production Services and Drilling & Evaluation Services. The Production Services segment includes coiled tubing, cementing, stimulation and pumping, nitrogen services, filtration services, completions, pipelines, laboratory services, and artificial lift services. The Drilling and Evaluation Services segment offers well testing services, drilling services and rental, fishing and remediation, drilling and workover rigs, wireline logging services, turbines drilling, directional drilling, slickline services, and drilling fluids. The company was founded on January 23, 2017 and is headquartered in Houston, TX.

Earnings data Q4 2019

Earnings data Q1 2020

Earnings data Q2 2020

Earnings data Q3 2020

Earnings data Q4 2020

Earnings data Q1 2021

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HOUSTON, TX / ACCESSWIRE / June 17, 2022 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today provided the following update on its financial statements: On March 14, 2022, NESR announced that the Company's consolidated US GAAP Financial Information and related disclosures (SEC Filings) for the fiscal years ended December 31, 2018, December 31, 2019, and December 31, 2020 filed with the United States Securities and Exchange Commission (the "SEC") needed to be restated, and that there might also be a material impact on the financial statements for the unaudited quarterly financial statements for the first three quarters of 2021. The Company now confirms that the unaudited quarterly financial statements for the first three quarters of 2021 also need to be restated and consequently cannot be relied upon, primarily due to the adjustments related to accounts payable and accrued liabilities from 2018 to 2020 impacting the opening balance sheet of 2021.

National Energy Services Reunited Corp. Provides Update On Financial Statements

HOUSTON, TX / ACCESSWIRE / May 11, 2022 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced that it received a written notice (the "Notice") from the Nasdaq Capital Market ("Nasdaq") on May 6, 2022, stating that because the Company has not yet filed its annual report on Form 20-F for the year ended December 31, 2021 (the "Form 20-F"), the Company was not in compliance with the Nasdaq's continued listing requirements under the timely filing criteria established in Nasdaq Listing Rule 5250(c)(1) ("Rule 5250(c)(1)"). Rule 5250(c)(1) requires timely filing of all required periodic reports with the Securities and Exchange Commission ("SEC") on or prior to the due date thereof or by the extended filing due date provided by Rule 12b-25.

National Energy Services Reunited Corp. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 20-F

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HOUSTON, TX / ACCESSWIRE / April 12, 2022 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has been awarded an integrated Production Services contract from Cairn Oil & Gas ("Cairn") in India. Commencing by 3Q22, the contract scope spans Coiled Tubing, High-Rate Pumping, Wireline, TCP, Slickline, Thru-Tubing Services, Well Testing, Wellhead Maintenance, Heating Services, Completion Fluids & Equipment, Hydraulic Fracturing and Stimulation Chemicals, which underscores NESR's augmented integrated service delivery capabilities across a broad Production Services portfolio.

Cairn Awards NESR Integrated Production Services Contract in India

HOUSTON, TX / ACCESSWIRE / March 14, 2022 / On March 10, 2022, subsequent to the companywide adoption of a new SAP ERP system and the ensuing ongoing reconciliation process, the management of National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW) concluded and recommended to the Audit Committee of the Company's Board of Directors, and the Audit Committee agreed, that the Company's consolidated U.S. GAAP financial information and related disclosures ("SEC Fillings") for the fiscal year ended December 31, 2018, December 31, 2019 and December 31, 2020 filed with the United States Securities and Exchange Commission (the "SEC"), contain errors primarily related to accounts payable reconciliations and accrued liabilities. Therefore, the U.S. GAAP statements for the foregoing years will need to be restated and should no longer be relied upon.

NESR Announces Update on Previously Issued Financial Statements and Full Year Revenue of 2021

HOUSTON, TX / ACCESSWIRE / February 8, 2022 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced the appointment of Stefan Angeli as Chief Financial Officer of NESR, effective immediately, replacing Chris Boone who is leaving the Company to start another role. To ensure a smooth transition, NESR has rescheduled its earnings conference call which will be announced separately.

NESR Announces Appointment of Stefan Angeli as CFO, Reschedules Earnings Conference Call

HOUSTON, TX / ACCESSWIRE / January 26, 2022 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR) (NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced that it will release its financial results for the fourth quarter 2021 on Wednesday, February 9th, 2022. A conference call is scheduled for 8:00 AM ET on February 9, 2022, to discuss such financial results.

National Energy Services Reunited Corp. to Release Fourth Quarter Financial Results on February 9th

National Energy Services Reunited Corp (NASDAQ: NESR) has received multiple contract awards worth ~$100 million over three years commencing in 2022 and evenly split between the Production and Drilling and Evaluation segments in North Africa countries. The awards mark the expansion of NESR into evaluation service lines in Algeria and Egypt and the further development of production services in Algeria.

NESR Pockets Over $100M Of Contract Awards In North Africa

HOUSTON, TX / ACCESSWIRE / January 3, 2022 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced multiple contract awards totaling more than USD$100 million over a three-year period commencing in 2022 and evenly split between the Production and Drilling and Evaluation segments in North Africa countries. These pivotal awards mark the expansion of NESR into evaluation service lines in Algeria and Egypt, and further expansion of production services in Algeria.

NESR Announces More Than $100 Million of Contract Awards in North Africa

HOUSTON, TX / ACCESSWIRE / December 9, 2021 / National Energy Services Reunited Corp. ("NESR" or "the Company") (NASDAQ:NESR)(NASDAQ:NESRW), an international, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, has announced that the company has secured a sustainability-linked loan ("SLL") with HSBC Bank Middle East - the first SLL of its kind within the MENA Oilfield Services ("OFS") sector. The loan terms are linked to three key performance indicators ("KPIs") that are tied to the following environmental, social, and governance (ESG) indicators, and will be tracked within the agreement span: Environmental - Wastewater Reduction: NESR has set ambitious targets to reduce water waste, which incorporates both water stewardship in traditional OFS product lines and in water treatment projects within the newly formed ESG Impact segment.

NESR and HSBC Announce First Sustainability-Linked Loan for MENA's Oilfield Services Industry

ABU DHABI, UNITED ARAB EMIRATES / ACCESSWIRE / November 16, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced that it has successfully deployed K-BOS 5-1/8" inch bore, 15,000 psi rated working pressure Kinetic Blowout Stopper in the Middle East & Africa ("MEA") region. The K-BOS is a game-changing safety valve that can shear anything (tools strings, tool joints and BHAs) and seal instantly.

NESR & Kinetic Pressure Control Announce Successful K-BOS Campaign In MEA

CALGARY, Alberta--(BUSINESS WIRE)--SCF Ventures (“SCFV”) is pleased to announce its investment in Qube Technologies (“Qube”), a provider of continuous emissions monitoring technology that enables oil and gas operators to better detect, measure, and reduce their methane and other greenhouse gas emissions. Qube, founded in 2018, provides customers with internet-of-things (“IoT”) devices to continuously monitor for a host of gases including methane, carbon dioxide and hydrogen sulfide. With the he

SCF Ventures Announces Investment in Qube Technologies, a Provider of Continuous Emissions Monitoring Technology

ABU DHABI, UNITED ARAB EMIRATES / ACCESSWIRE / November 15, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced an investment in Qube Technologies ("Qube"), a provider of continuous emissions monitoring technology that enables oil and gas operators to better detect, measure, and reduce methane and other greenhouse gas ("GHG") emissions. Founded in 2018, Qube continuously collects gas concentration, atmospheric, and other operational data to locate, quantify, and classify emissions by source and severity.

NESR Announces Investment In Qube Technologies For Methane Emissions Monitoring

National Energy Services Reunited Corp.'s (NESR) CEO Sherif Foda on Q3 2021 Results - Earnings Call Transcript

HOUSTON, TX / ACCESSWIRE / November 3, 2021 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today reported its financial results for the quarter ended September 30, 2021. The Company posted the following results for the periods presented: Revenue for the third quarter of 2021 is $218 million Free cash flow (a non-GAAP measure) for the third quarter of 2021 is $17 million* Entered into a flagship, sustainability-linked, green credit facility refinancing Net Income for the third quarter of 2021 is $2 million Adjusted Net Income (a non-GAAP measure) for the third quarter of 2021 is $7 million* Adjusted EBITDA (a non-GAAP measure) is $49 million* Diluted Earnings per Share (EPS) for the third quarter of 2021 is $0.02 Adjusted Diluted EPS (a non-GAAP measure), which includes $0.06 per share of Charges and Credits, for the third quarter of 2021 is $0.08* Three Months Ended Variance (in thousands except per share amounts and percentages) September 30, 2021 June 30, 2021 September 30, 2020 Sequential Year-Over-Year Revenue $ 217,992 $ 234,927 $ 218,423 (7)% - Net income 1,931 7,821 11,666 (75)% (83)% Adjusted net income (non-GAAP)* 6,984 12,817 14,165 (46)% (51)% Adjusted EBITDA (non-GAAP)* 48,674 53,607 55,803 (9)% (13)% Diluted EPS 0.02 0.08 0.13 (75)% (85)% Adjusted Diluted EPS (non-GAAP)* 0.08 0.14 0.16 (43)% (50)% Free cash flow (non-GAAP)* 17,005 11,663 8,668 $ 5,342 $ 8,337 *The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America ("GAAP").

National Energy Services Reunited Corp. Reports Third Quarter 2021 Financial Results

HOUSTON, TX / ACCESSWIRE / October 13, 2021 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced that it will release its financial results for the third quarter 2021 on Wednesday, November 3rd, 2021. A conference call is scheduled for 8:00 AM ET on November 3, 2021 to discuss such financial results.

National Energy Services Reunited Corp. to Release Third Quarter Financial Results on November 3rd

HOUSTON, TX / ACCESSWIRE / October 11, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, today announced multiple contract awards across several Drilling & Evaluation ("D&E") service lines in key GCC countries. Totaling more than USD$150 million, these multi-year contracts encompass Slickline Services ("Slickline"), Tubular Running Services ("TRS"), and Testing Services ("Testing") with multiple national oil companies ("NOCs").

NESR Secures Multiple D&E Awards For More Than $150M

HOUSTON, TX / ACCESSWIRE / September 15, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR) (NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region and Ulterra Drilling Technologies, L.P. ("Ulterra"), an independent supplier and manufacturer of polycrystalline diamond compact ("PDC") drill bits, announced that they have entered into an agreement to deploy and use Ulterra PDC bits across various countries in the MENA and Asia region.

NESR and Ulterra Announce Partnership in the Middle East

HOUSTON, TX / ACCESSWIRE / September 8, 2021 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced that it has joined the United Nations Global Compact initiative - a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. With this announcement, NESR is proud to join thousands of other companies globally committed to taking responsible business action to create the world we all want.

NESR Joins the United Nations Global Compact

Cactus

HOUSTON, TX / ACCESSWIRE / September 7, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR) (NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region, and Cactus, Inc. ("Cactus") (NYSE: WHD), a leading provider of wellhead and pressure control equipment, announced that they have entered into an agreement to provide and deploy Cactus frac rental equipment in the Middle East, as well as other initiatives in the key markets. Scott Bender, President and CEO of Cactus stated, "The differentiated nature of Cactus' products and service execution has enabled us to significantly expand our presence across U.S. unconventional basins over the last several years.

NESR and Cactus Announce Collaboration in the Middle East

HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (“Cactus”) (NYSE: WHD), a leading provider of wellhead and pressure control equipment, and National Energy Services Reunited Corp. (“NESR”) (NASDAQ: NESR) (NASDAQ: NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) region, announced that they have entered into an agreement to provide and deploy Cactus frac rental equipment in the Middle East, as well as other initiatives in the key marke

Cactus and NESR Announce Collaboration in the Middle East

National Energy Services Reunited Corp. (NESR) CEO Sherif Foda on Q2 2021 Results - Earnings Call Transcript

HOUSTON, TX / ACCESSWIRE / August 4, 2021 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today reported its financial results for the quarter ended June 30, 2021. The Company posted the following results for the periods presented: Revenue for the second quarter of 2021 is $235 million, growing 16% year-over-year and 11% over the sequential quarter Free cash flow (a non-GAAP measure) for the second quarter of 2021 is $12 million* Net Income for the second quarter of 2021 is $8 million Adjusted Net Income (a non-GAAP measure) for the second quarter of 2021 is $13 million* Adjusted EBITDA (a non-GAAP measure) is $54 million, an increase of 7% over the sequential quarter and 3% year-over-year * Diluted Earnings per Share (EPS) for the second quarter of 2021 is $0.08 Adjusted Diluted EPS (a non-GAAP measure), which includes $0.06 per share of Charges and Credits, for the second quarter of 2021 is $0.14*     Three Months Ended     Variance   (in thousands except per share amounts and percentages)   June 30, 2021     March 31, 2021     June 30, 2020     Sequential     Year-over- year                                             Revenue   $  234,927     $  212,426     $  203,249       11 %     16 % Net income     7,821       11,472       10,514       (32) %     (26) % Adjusted net income (non-GAAP)*     12,817       13,677       12,342       (6) %     4 % Adjusted EBITDA (non-GAAP)*     53,607       50,221       51,841       7 %     3 % Diluted EPS     0.08       0.13       0.12       (38) %     (33) % Adjusted Diluted EPS (non-GAAP)*     0.14       0.15       0.14       (7) %     - % Free cash flow (non-GAAP)*     11,663       35,240       15,948     $  (23,577)     $  (4,285)   *The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America ("GAAP").

National Energy Services Reunited Corp. Reports Second Quarter 2021 Financial Results

HOUSTON, TX / ACCESSWIRE / July 8, 2021 / National Energy Services Reunited Corp. ("NESR" or the "Company") (NASDAQ:NESR)(NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") and Asia Pacific regions, today announced that it will release its financial results for the second quarter 2021 on Wednesday, August 4th, 2021. A conference call is scheduled for 8:00 AM ET on August 4, 2021 to discuss such financial results.

National Energy Services Reunited Corp. to Release Second Quarter Financial Results on August 4th

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