National Energy Services Reunited Corp. (”NESR”) (NASDAQ: NESR) (NASDAQ: NESRW) (www.NESR.com), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (”MENA”) region, today reported awards of major multi-year contracts in North Africa and the Gulf region for its Drilling & Evaluation product line, reinforcing its ability to create cross-selling opportunities and revenue synergies as a combined company. These contracts are in line with NESR’s long-term strategic plan and will place the Company on a strong footing going into 2019 and beyond.
”These awards help to substantiate NESR’s strategy to expand its Drilling Tools, Fishing and Remedial services portfolio from its core operations in Oman, consolidating our leading market position,” said Sherif Foda, Chairman of the Board and CEO of NESR. ”These market share gains are important stepping stones in expanding our business lines and diversifying our service portfolio in the area. It highlights the accelerated pace of our integration along with the strong relationships we have with our customers in the region and their confidence in our ability to deliver across multiple sectors.”
Foda added, ”These contract achievements amplify our local manufacturing presence with a larger base. It will solidify in-country spending and is critical to the evolution of the Company’s In-Country Value strategies.”
Distributed by APO Group on behalf of National Energy Services Reunited Corp.
Joseph Caminiti or Steve Calk
Alpha IR Group
About National Energy Services Reunited Corp.
Founded in 2017, NESR (www.NESR.com) is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 3,200 employees, representing more than 40 nationalities in over 14 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Cementing, Coiled Tubing, Filtration, Completions, Stimulation and Fracturing, and Nitrogen Services. The Company also helps its customers to access the reservoirs in a smarter and faster manner by providing Drilling and Evaluation services like Drilling Downhole Tools, Directional Drilling Fishing Tools, Testing Services, Wireline, Slickline, Fluids and Rig Services.
Forward Looking Statements:
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, among others, statements about the benefits and synergies of the recently completed business combination transaction. These forward-looking statements are based on information available as of the date of this communication, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing NESR’s views as of any subsequent date, and NESR does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, NESR’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include NESR’s ability to recognize the anticipated benefits of the contracts; changes in applicable laws or regulations; the possibility that NESR may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated in NESR’s public filings with the Securities and Exchange Commission.