NESR Awarded $200 Million in New Slickline Contracts Across Multiple Countries
Totaling US$200 million, the multiyear contracts represent new awards in a key growth service line within NESR's Drilling & Evaluation ('D&E') segment. Consistent with the expansion of evaluation services like Cased Hole Wireline and Surface Well Testing, these contracts underscore the 'portfolio pull through' strategy in D&E, whereby leadership in a certain product or service, in one or two countries, is replicated across NESR's entire MENA footprint, particularly in its burgeoning share of rigless activity.
NESR CEO & Chairman Sherif Foda commented, 'These two new entries for NESR Slickline further our MENA leadership position in this demanding evaluation services space. Following our philosophy of expanding Slickline beyond its current stronghold in Saudi and Egypt, we are very pleased to see the segment extend into Oman and Kuwait for the first time, augmenting our already well-established business in these anchor countries. Besides volume, this brings geographic diversification to Slickline and a competitive advantage in being a top three provider of such services in the region.'
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact may be forward-looking within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such forward-looking statements may relate to, among other things, the Company's expectations related to its business performance, financial condition and results of operation. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the Securities and Exchange Commission ('SEC'), including those factors discussed under the caption 'Risk Factors' in such filings.
You are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them and to the risk factors. The Company disclaims any obligation to update any forward-looking statements to reflect any new information or future events or circumstances or otherwise, except as required by law. You should read this communication in conjunction with other documents which the Company may file or furnish from time to time with the SEC.
About NESR
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in 16 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.
For media inquiries, please contact:
Lubna Hamdan
National Energy Services Reunited Corp.
971502670225
[email protected]
For inquiries regarding NESR, or for investor queries, please contact:
Blake Gendron
National Energy Services Reunited Corp.
832-925-3777
[email protected]
SOURCE: National Energy Services Reunited Corp
press release
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Apple (AAPL) Upgrading Siri with AI-Powered Apple Intent
Apple Inc. (NASDAQ:AAPL) is one of the tech stocks with strong return on equity. On August 10, it was announced that the company is working on a significant upgrade to its AI voice control, which will change how people use iPhones. Reports indicate that the company is working on an upgraded version of App Intents that will make Siri the true hands-free controller for devices. App Intents will enable people to use their voice to instruct Siri to perform complex operations, such as finding a specific photo, editing it, and sending it off. Thanks to artificial intelligence integration, the digital assistant can comment on an Instagram photo or scroll through a shopping app and add items to a cart. With the new upgrades, Apple is exploring ways to make its voice control operate with precision inside interfaces. The upgrades would mark an important milestone and fulfillment of a promise that Siri made 15 years ago. It will also be a significant upgrade to the company's hardware. Without App Intents, Apple's products would be less compelling than those offered by Amazon and Google. Apple Inc. (NASDAQ:AAPL) is a technology company that designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. It also sells a variety of related services, including software, digital content, and subscription-based services. The stock boasts of a high return on equity of 149.81%, affirming its ability to convert shareholder equity to profit. While we acknowledge the potential of AAPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best NYSE Penny Stocks to Invest in Now and 10 Best 52-Week High Stocks to Buy According to Analysts. Disclosure: None. This article is originally published at Insider Monkey. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
22 minutes ago
- Yahoo
Trump debanking order will have limited impact on crypto, experts say
Last week, US President Donald Trump issued an executive order directing bank regulators to rescind guidance that could lead to 'politicised or unlawful debanking.' Crypto businesses, and even some prominent conservatives — including the president himself — have alleged they were denied or lost access to bank accounts at the behest of politically-motivated, Biden-era regulators. But last week's executive order, entitled, 'Guaranteeing Fair Banking for All Americans,' won't do much for crypto businesses that fear they've been locked out of the traditional financial system, according to experts who spoke to DL News. That's because the order does little to root out 'reputation risk.' The term refers to regulators' ability to dissuade banks from engaging supposedly controversial customers, such as pornographers, firearms manufacturers, payday lenders, and crypto companies. Critics of the practice say that banks should only consider objective criteria, such as a customer's financial risk, when deciding whether to offer someone a checking account. Guidance documents and manuals 'This is going to make people happy who have been asking for it, but it's not clear how much good it's going to do them,' Dru Stevenson, a professor at South Texas College of Law Houston, told DL News. The executive order directs bank regulators to remove the use of reputation risk 'or equivalent concepts' that could result in 'politicized or unlawful debanking' from their 'guidance documents, manuals, and other materials.' But it isn't clear that examples of debanking were motivated by politics, according to Stevenson. 'It's not clear to me that they couldn't still allow for reputational risk that would apply to, say, an AI company, because that's not exactly a political issue or something that's unlawful,' he said. And reputation risk can have a downstream effect on banks' profits. 'If you have risk averse investors at one of the gigantic pension funds, or mutual funds, and they find out that Wachovia has gone gung ho about crypto, that might be a reason for them to switch to a more conservative bank,' Stevenson said. Moreover, banks were always free to ignore guidance documents and manuals according to Stevenson. As such, removing references to reputation risk from such documents will likely have little practical effect. 'If you're an agency, you can't go into court and say, 'This person violated our guidance document,'' he said. 'You have to show that they violated the statute or that they violated a codified regulation that went through notice and comment rulemaking.' Management reports Julie Hill, the dean of the University of Wyoming's law school, noted that Trump-appointed bank regulators have already said they will stop using reputation risk. While the regulators have new leadership, they are largely staffed by the same people who served under the Biden administration, Hill added. And reputation risk isn't the only tool regulators can use to pressure banks to reject certain customers. Anti-money laundering laws are one reason banks often reject customers, according to Hill. 'The vast, vast majority of suspicious activity reports don't lead to any sort of follow up, let alone any sort of enforcement,' she told DL News. Moreover, banks are not allowed to tell customers that their account was flagged for suspicious activity. 'We have a situation where banks had to file one or more SARs, and they decided it's just not worth it, we should debank, because we don't want our regulators upset with us, and it's getting expensive to file all these SARs.' Another tool at regulators' disposal: management reports. 'If a regulator suggests to a bank, 'We think this is risky, maybe you want to stop doing it' [but] it's not really that risky, banks might do it anyway,' Hill said, 'because their management rating will get downgraded and then that impacts all sorts of things, including their capital requirements.' Those ratings are also secret, according to Hill. 'Anytime you see a really broad authority with very little limit, and then also a lot of secrecy or lack of transparency about how regulators or banks implement that, you're likely to set up claims for debanking,' she said. Banks' responsibility The executive order also directs the regulators to identify financial institutions that had any 'past or current, formal or informal, policies or practices that require, encourage, or otherwise influence … politicized or unlawful debanking.' Finding examples of politically-motivated debanking could be straightforward if the orders came from federal regulators, according to Hill. 'It's a much harder thing if what you think happened is the banks, for whatever reason, just decided to debank people for political reasons, unconnected with risk or profit or whatever,' she said. 'There's a real question about how we think regulators are going to figure that out and whether we think there's any duty on the bank to voluntarily disclose it.' Whatever the effect of the executive order, both professors agreed that a new administration could reinstate the use of reputation risk unilaterally. 'It kind of highlights how unsticky changes made by the executive branch are when it comes to discretionary enforcement,' Hill said. 'This is one of those things that can change from administration to administration.' Stevenson agreed. 'If we ever get to have other presidents, the next president can just do another executive order and put it all back, like, overnight,' Stevenson said. Aleks Gilbert is DL News' New York-based DeFi correspondent. You can contact him at aleks@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
Wix.com (WIX) Announces $200 Million Increase to Share Repurchase Program
Ltd. (NASDAQ:WIX) is one of the best falling stocks to buy now. On August 11, the company announced an increase to its share repurchase program by an additional $200 million. This move expands the total authorized repurchase capacity to $500 million. Of the previously authorized $400 million, $100 million had already been utilized before this expansion. Copyright: gmast3r / 123RF Stock Photo Since the beginning of 2025, Wix has repurchased $300 million of its ordinary shares as part of this program. The repurchase program allows Wix to buy back its ordinary shares and/or convertible notes through various methods, including open market purchases, privately negotiated transactions, and plans compliant with U.S. securities laws and regulations. The program is flexible. It does not obligate Wix to acquire any specific amount of securities and can be suspended or discontinued at the company's discretion. The additional $200 million repurchase authorization will be implemented subject to Israeli legal requirements. This includes a 30-day period during which creditors may object to the repurchase plan as per Israeli company regulations. Ltd. (NASDAQ:WIX) is an Israeli software company. It operates a cloud-based platform that enables users to create, manage, and grow websites and digital experiences without coding. The company serves over 250 million registered users globally through products like Wix Editor, Wix Studio, and Velo, a no-code/low-code development environment. While we acknowledge the potential of WIX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Copper Stocks to Buy According to Hedge Funds and 10 Best EV Penny Stocks to Buy According to Hedge Funds. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
