February 8, 2023

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

  • 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.
  • “We secured a strong position with a few clients in well testing and slickline services where we have gained accretive market share to become a major player in these service lines,” stated Sherif Foda, Chairman of the Board and CEO of NESR.
  • Price Action: NESR shares closed higher by 0.64% at $9.45 on Friday.

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