National Energy Services Reunited Corp. operates as an oilfield services providers in the MENA region.
The company’s business consists of primarily upstream and midstream oilfield services with oil and natural gas companies as customers. The company has operations in 16 countries, including Algeria, Bahrain, Chad, Congo, Egypt, India, Indonesia, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, and United Arab Emirates (‘UAE’).
Segments
The company operates through two reportable segments: Prod...
National Energy Services Reunited Corp. operates as an oilfield services providers in the MENA region.
The company’s business consists of primarily upstream and midstream oilfield services with oil and natural gas companies as customers. The company has operations in 16 countries, including Algeria, Bahrain, Chad, Congo, Egypt, India, Indonesia, Iraq, Kuwait, Libya, Oman, Qatar, Saudi Arabia, and United Arab Emirates (‘UAE’).
Segments
The company operates through two reportable segments: Production Services and Drilling and Evaluation Services.
Production Services
The company’s Production Services segment includes the results of operations from services that are generally offered and performed during the production stage of a well’s lifecycle. These services include, but are not limited to, the following:
Hydraulic Fracturing: Hydraulic fracturing services are performed to enhance production of oil and natural gas from formations with low permeability and restricted flow of hydrocarbons. The process of hydraulic fracturing involves pumping a highly viscous, pressurized fracturing fluid, typically a mixture of water, chemicals and proppant, into a well casing or tubing in order to fracture underground mineral formations. These fractures release trapped hydrocarbon particles and free a channel for the oil or natural gas to flow freely to the wellbore for collection. Fracturing fluid mixtures include proppant that becomes lodged in the cracks created by the hydraulic fracturing process, ‘propping’ them open to facilitate the flow of hydrocarbons upward through the well.
Coiled Tubing: The company provides various coiled tubing services ranging from basic nitrogen lifting, fishing, milling, clean-out, scale removal and other complex well applications. The company employs design software to predict the performance of coiled tubing string and fluid behavior. The work history and integrity of each coiled tubing work string is constantly monitored in real-time to allow the company’s engineers to continually evaluate developments in coiled tubing applications. The company’s coiled tubing units are suitable for both onshore and offshore.
Stimulation and Pumping: The company employs stimulation and pumping services in its operations. The company offers acidizing of wells, cleaning jobs, the release of stuck pipes during drilling, pressure testing wells and inhibition jobs on gas wells.
Cementing: The company has experience in primary and remedial cementing services across the MENA region. The company’s cementing solutions include cementing equipment with complete automated density control capabilities, large volume batch mixers allowing larger volume of slurries to be mixed and pumped at homogeneous density and customized cement systems for specific applications such as gas migration, ultra-light weight, flexible cement, HTHP (high-temperature/high-pressure) and self-healing cement. The company also has an extensive database of knowledge and experience.
Nitrogen Services: The company offers a complete nitrogen service package through its nitrogen fleets. The company’s equipment incorporates a combination of low, intermediate, and high-rate units. The company’s operational capabilities range from stand-alone nitrogen services, such as freeing stuck drill pipe and unloading or cleaning out wellbores, to supplying the company’s coiled tubing, stimulation and cementing service with the essential gaseous components necessary for positive results in various applications.
Filtration Services: The company provides filtration services through its two-stage, skid mounted, easy to handle filtration vessels. The primary and secondary filtration stages are usually carried out together. The company has filtered thousands of barrels on rig sites for reduced damage drilling as well as for UBD (Under Balanced Drilling) operations. The company also provides frac tanks and pumping units as necessary.
Pipelines and Industrial Services: The company provides pipeline services to plants and refineries, including water filling and hydro testing, nitrogen purging, de-gassing and pressure testing, as well as cutting/welding and cooling down piping/vessels systems. The company’s equipment and resources include an existing fleet of nitrogen pump units, pig launchers and receivers, intelligent pigs, high rate pumping units at high and low pressure, and pipeline inspection services.
Production Assurance – The company’s fleet of water well drilling rigs and portfolio of water treatment technologies (chemicals and filtration) allow the company to serve the full water cycle. This includes the sourcing and treatment of water for oil and natural gas, municipal and industrial use and the disposal of water into selected aquifers. The company also provides a portfolio of production assurance chemicals to assist hydrocarbon production from a specific reservoir in meeting the desired production target. This is achieved by collaborating with selected chemical companies and academic institutes and establishing an in-house technical team of engineers and laboratory capabilities.
Artificial Lift Services: The company provides vertical, deviated and horizontal rod pumping systems, analysis and optimization recommendations for fluid level and dynamometer testing, artificial lift optimization and data interpretation, long term monitoring and optimization, and associated field services. The company also provides gas lift systems and downhole monitoring systems. The company maintains a downhole pump workshop that is equipped with up-to-date equipment and tools, including pump testers, barrel honing and API beam pump gauges.
Completions: The company provides surface and subsurface safety systems, high-pressure packer systems, flow controls, service tools, expandable liner technology, VIT (Vacuum Insulated Tubing) technology for steam applications, and engineering capabilities with manufacturing capacity and testing facilities. The company focuses on in-country value by taking a systems approach to well completions for maximum recovery in addition to intelligent completion architectures.
Integrated Production Management: These projects are focused on developing and managing production on behalf of the company’s customers under long-term agreements. The company invests its own services and products, and in some cases cash, into the field development activities and operations. Although in certain arrangements the company is paid for a portion of the services or products it provides, generally the company is not be paid at the time of providing its services or upon delivery of its products. Instead, the company is compensated based upon cash flow generated.
Drilling and Evaluation Services
The company’s Drilling and Evaluation Services segment includes the results of operations from services that are generally offered and performed during pre-production stages of a well’s lifecycle and related mainly to the operation of oil rigs. These services include, but are not limited to, the following:
Rigs and Integrated Services: The company’s fleet of rigs range from 200 horsepower (HP) to 1,500 HP and offer drilling capabilities for all type of wells with depths up to 4,000 meters. The company’s fleet includes 750 HP truck-mounted, fast moving rigs, which are ideal for both light and heavy work over campaigns as both rigs are equipped with full edge mud systems that can handle normal drilling activities. In addition, the company provides a ‘One Stop Solution’ that includes delivering and managing the full spectrum of services involved in the upstream sector from the provision of the rig to completion and testing of the well.
Fishing and Downhole: The company provides highly innovative and reliable drilling tools and machine shop services for conventional and unconventional drilling applications. The company's manufacturing capabilities include manufacturing flanges, subs, pup joints, pony drill collars, and all types of crossovers. The company also has the provision of threading and repair services for the oil and natural gas industry, including the re-cutting of tubing and casing, repair of drilling and production tubulars, and well heads.
Thru-Tubing Intervention: The company provides comprehensive oilfield solutions for all thru-tubing intervention requirements, from milling to thru-tubing fishing and thru-tubing well intervention.
Tubular Running Services: The company provides traditional Tubular Running Services operated by highly trained personnel focused on safety, quality, efficiency and well integrity. The company’s Casing Running Tool service enables simultaneous connection make-up, break-out, circulation and rotation, increasing the chance of getting casing to total depth safely and efficiently the first time.
Directional Drilling: The company’s directional drilling services provide a suite of solutions from conventional to unconventional drilling applications, including directional drilling, measurement while drilling, logging while drilling, drilling optimization, drilling engineering, borehole surveying, and surface mud logging.
Drilling and Completion Fluids: The company provides drilling fluid systems and related technologies for a number of projects, including development drilling, exploration drilling and High-Pressure High-Temperature drilling, in accordance with international standards and regulations for both onshore and offshore projects
Pressure Control: With a full range of wellhead products, flow control equipment, and frac equipment, the company can provide safe and efficient drilling and production. From pre-engineered products to fully customized designs, the company offers solutions for a wide variety of applications.
Well Testing Services: The company's well testing services are used to measure solids, gas, oil, and water produced from a well. The company offers integrated well testing services in the exploration, appraisal, and development phases of oil and natural gas wells. The company's aim is to provide newer, faster, and more precise testing results through innovation and superior service quality, and the company's services include surface well testing onshore and offshore, flow back packages, sand management, burner boom stack for gas flaring, smokeless burner, multi-phase flow meters (MPFM), zero-flaring packages, and water treatment and filtration.
Wireline Logging Services: The company’s fleet of logging trucks, offshore units, logging tools and pressure control equipment provides a wide variety of cased-hole logging services to its clients, including production and injection performance evaluation, stimulation performance evaluation, water shutoff determination, tubing and multiple casing integrity, acoustic leak detection, perforation, pipe recovery, cased hole formation evaluation, and interval isolation and borehole seal.
Slickline Services: The company’s slickline services cover the basic removal of scale, wax and sand build-up, setting plugs, changing out gas lift valves, fishing, and other complex well applications.
Directional Drilling and Roya Technology Portfolio: Technology enhancement and expansion within the Drilling and Evaluation Services segment continues to be a strategic focus for the company. Since 2021, the company has entered into several strategic Drilling and Evaluation Services partnerships with other technology providers to bring enhanced technologies to its customers. Key partnerships include PHX Energy Services Corp., to bring leading directional drilling capabilities from North America to the MENA region; Beyond Energy Services & Technology Corp., to offer managed pressure drilling services; and Kinetic Pressure Control Limited, to develop its Kinetic Blowout Stopper (‘KBOS’) technology in the MENA region and through which a number of KBOS units were deployed commercially in 2024.
In 2024, the company launched its Roya advanced directional drilling technology platform to penetrate the high-end directional drilling market beyond the company’s existing Drilling and Evaluation service offerings. The Roya advanced drilling platform comprises NESR’s RoyaStream measurement-while-drilling tool, its RoyaSeek logging-while-drilling tool, and its RoyaSteer rotary-steerable system. In the fourth quarter of 2024, the company made its first delivery of a wellbore section under the Roya advanced drilling platform to a customer in Kuwait. In addition, NESR has secured multi-year directional drilling contracts for this technology in Kuwait, Oman, and Saudi Arabia.
Principal Markets
The company’s operations and activities are located within certain geographies, primarily in the MENA region.
Seasonality
Seasonal changes in weather and significant weather events affect the demand and price of oil and, therefore, the demand for the company's services. Furthermore, customer spending patterns for oilfield services and products generally result in higher activity in the fourth quarter of each year (year ended December 2024), as clients seek to utilize their annual budgets.
Marketing Channels
The company sells to its customers through direct and indirect channels. The company's primary sales channel is through its direct sales force, which has a strong country focus with local teams close to the customer.
Customers
Revenues from four customers individually accounted for 54%, 9%, 7% and 4% of the company’s consolidated revenues in the year ended December 31, 2024.
Environmental Regulation
The company has established and implemented an environmental health and safety management system based on ISO 14001 and OHSAS 18001.
Health and Safety Regulation
The company’s health and safety (HSE) standards are influenced by a combination of the U.S. Occupational Safety and Health Act and the International Association of Oil and Gas Producers, a global forum whose members identify and share best practices to achieve improvements.
History
National Energy Services Reunited Corp. was founded in 2017. The company was incorporated in 2017.