About National Energy Services Reunited

National Energy Services Reunited Corp., through its wholly owned subsidiaries, provides products and services to the oil and gas industry primarily in the Middle East and North Africa (MENA) region. The company operates in over 15 countries, with a strong presence in Saudi Arabia, Oman, Kuwait, the United Arab Emirates, Algeria, Egypt, Libya, Iraq, and Qatar. The company provides oilfield services to exploration and production companies with operations in the onshore and offshore oil and gas sectors in the MENA region. The company's services include a broad suite of offerings that are essential in the drilling and completion of new oil and natural gas wells and in the remedial work on existing wells, both onshore and offshore, including completion services and equipment and drilling and evaluation services and equipment. Segments The company operates in two segments, Production Services and Drilling and Evaluation Services. Production Services segment This 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. It employs design software to predict the performance of coiled tubing string and fluid behavior. The company's coiled tubing units are suitable for both onshore and offshore. Stimulation & 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 and the Asia Pacific regions. Its 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. It also has a 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. Its operational capabilities range from nitrogen services, such as freeing stuck drill pipe and unloading or cleaning out wellbores, to supplying its coiled tubing, stimulation and cementing services 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, filtration vessels. The primary and a secondary filtration stages are usually carried out together. It 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. Its 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 it to serve the full water cycle. This includes the sourcing and treatment of water for oil and 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. 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. It also provides gas lift systems and downhole monitoring systems. The company maintains a downhole pump workshop that is equipped with 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. It focuses on in-country value by taking a systems approach to well completions for maximum recovery in addition to intelligent completion architectures. Integrated Project Management (IPM): IPM Projects generally focus on developing and co-managing production of customers' assets under long-term agreements. The company invests its own services and products into the field development activities and operations and is compensated on a fee-per barrel basis or based on cash flow generated. This includes certain arrangements whereby the company is only compensated based on incremental production that it helps deliver above a mutually agreed baseline. Drilling and Evaluation Services segment This 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. Its 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 could handle normal drilling activities. In addition, it 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 & Downhole: The company provides drilling tools and machine shop services for conventional and unconventional drilling applications. Its manufacturing capabilities include manufacturing flanges, subs, pup joints, pony drill collars and all types of cross overs. The company also has the provision of threading and repair services for the oil and gas industry, including the re-cutting of tubing and casing, repair of drilling and production tubular and well heads. Thru-Tubing Intervention: The company provides oilfield solutions for all thru-tubing intervention requirement, from milling to thru-tubing fishing and thru-tubing well intervention. Tubular Running Services: The company provides Tubular Running Services operated by highly trained personnel focused on safety, quality, efficiency and well integrity. Its Casing Running Tool technology enables simultaneous connection make-up, break-out, circulation and rotation, increasing the chance of getting casing to total depth. 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 Fluids: The company provides drilling fluid systems and related technologies for various projects, including development drilling, exploration drilling and HPHT 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 drilling and production. From pre-engineered products, to fully customized designs, it offers solutions for every application. Well Testing Services: The company's well testing services are used to measure solids, gas, oil and water produced from a well. It offers integrated well testing services in the exploration, appraisal and development phases of oil and gas wells. 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 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. Principal Markets The company's operations and activities are located within certain geographies, primarily in the MENA region. 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 country focus with local teams close to the customer. 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 (year ended December 31, 2022) of each year as clients seek to utilize their annual budgets. Environmental 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 under the laws of the British Virgin Islands in 2017. The company was incorporated in 2017.