HOUSTON, TX / ACCESSWIRE / September 15, 2021 / National Energy Services Reunited Corp. ("NESR") (NASDAQ:NESR) (NASDAQ:NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa ("MENA") region and Ulterra Drilling Technologies, L.P. ("Ulterra"), an independent supplier and manufacturer of polycrystalline diamond compact ("PDC") drill bits, announced that they have entered into an agreement to deploy and use Ulterra PDC bits across various countries in the MENA and Asia region.
John Clunan, President and Chief Executive Officer of Ulterra stated, "We are very pleased with the collaboration with NESR as it will allow us to leverage our drill bits offering with NESR's footprint across MENA and Asia regions to rapidly grow sales for both companies. Drilling optimization has always been a key focus area for us to serve customers globally and working with NESR will help us expand our customer base and provide those customers with our PDC bits that improve performance and challenge the limits. As we have shown in North America with our market leading position and growth over the last few years, we are confident that we can continue to grow our international presence and further advance our mark in the region."
"As we have previously stated, we have made several organic and inorganic long-term investments as well as establishing new partnerships to grow our Drilling & Evaluation Services segment." Said Sherif Foda, Chairman of the Board and CEO of NESR. "This new agreement with Ulterra is another piece to the puzzle and will be a key addition to our growing portfolio in the Drilling Services. With Ulterra's PDC bits we will be able to offer our customers a market leading and proven drill bit technology that will also complement our performance driven drilling solutions. Our mission has always been to supply our customers with best-in-class technologies. We look forward to working with Ulterra to create new opportunities for success."
About National Energy Services Reunited Corp.
Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 5,000 employees, representing more than 60 nationalities in over 15 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.
Ulterra Drilling Technologies is one of the largest pure-play, independent supplier and manufacturer of PDC drill bits to the oil and gas industry. Originally founded in 2005 and strategically headquartered in Fort Worth, Texas, Ulterra is the North America industry leader and one of the fastest-growing PDC drill bit companies in the world. With field service locations throughout the world, including the United States and Canada, Ulterra is advantageously located near the drilling activity providing direct support to operators around the globe. Ulterra's unmatched speed to market is dedicated to the complete design, manufacture, and delivery of customized drilling solutions with advantaged application-specific technology. Ulterra works alongside operators supplying them with consistently high quality, innovative designs customized to target performance limitations to increase productivity and monetary efficiencies.
This communication contains forward-looking statements (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Any and all statements contained in this communication that are not statements of historical fact may be deemed forward-looking statements. Terms such as "may," "might," "would," "should," "could," "project," "estimate," "predict," "potential," "strategy," "anticipate," "attempt," "develop," "plan," "help," "believe," "continue," "intend," "expect," "future," and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. However, not all forward-looking statements may contain one or more of these identifying terms. Forward-looking statements in this communication may include, without limitation, statements regarding the benefits resulting from the Company's recent business combination transaction, the plans and objectives of management for future operations, projections of income or loss, earnings or loss per share, capital expenditures, dividends, capital structure or other financial items, the Company's future financial performance, expansion plans and opportunities, and the assumptions underlying or relating to any such statement.
The forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation: the ability to recognize the anticipated benefits of the Company's recent business combination transaction, which may be affected by, among other things, the price of oil, natural gas, natural gas liquids, competition, the Company's ability to integrate the businesses acquired and the ability of the combined business to grow and manage growth profitably; integration costs related to the Company's recent business combination; estimates of the Company's future revenue, expenses, capital requirements and the Company's need for financing; the risk of legal complaints and proceedings and government investigations; the Company's financial performance; success in retaining or recruiting, or changes required in, the Company's officers, key employees or directors; current and future government regulations; developments relating to the Company's competitors; changes in applicable laws or regulations; the possibility that the Company may be adversely affected by other economic and market conditions, political disturbances, war, terrorist acts, international currency fluctuations, business and/or competitive factors; and other risks and uncertainties set forth in the Company's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission (the "SEC").
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 the forward-looking statements contained in this communication 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.
For inquiries regarding NESR, please contact:
Blake Gendron National Energy Services Reunited Corp. 832-925-3777 investors@nesr.com
SOURCE: National Energy Services Reunited Corp.
View source version on accesswire.com: https://www.accesswire.com/664185/NESR-and-Ulterra-Announce-Partnership-in-the-Middle-East
Do you have the right portfolio for your retirement savings? When it comes to long-term investing, the biggest issue — by far — is overall asset allocation: How much to stocks, sectors, assets and so on. Picking individual securities within those asset classes — individual stocks or bonds, for example — usually turns out to be much less important.
(Bloomberg) -- California Governor Gavin Newsom said Friday that his state has a record $97.5 billion operating surplus, as high tax rates on its wealthiest residents mean he has more cash to fund liberal priorities such as education and health care.Most Read from BloombergElon Musk Sows Doubt Over His $44 Billion Twitter TakeoverSony PlayStation Staff Fume Over CEO’s Abortion CommentsApple Testing iPhones That Ditch Lightning Ports in Favor of USB-CIndia Bans Wheat Exports as Food Security Come
Circle CEO Jeremy Allaire joins Yahoo Finance Live to discuss the collapse of stablecoins like Terra, the cryptocurrency sell-off, crypto regulation, and the outlook for crypto exchanges.
Meanwhile, things are even worse for the growth-dependent Nasdaq Composite (NASDAQINDEX: ^IXIC). Following its all-time high in November 2021, the Nasdaq has tumbled 27%. The Nasdaq's tumble officially places it in a bear market.
(Bloomberg) -- An investment firm for the Walton family ramped up its position in a U.S. municipal bond fund and added a sizable stake in Japanese equities, while also betting on small-cap stocks and Coinbase Global Inc. before tumultuous declines. Most Read from BloombergElon Musk Sows Doubt Over His $44 Billion Twitter TakeoverSony PlayStation Staff Fume Over CEO’s Abortion CommentsApple Testing iPhones That Ditch Lightning Ports in Favor of USB-CIndia Bans Wheat Exports as Food Security Comes
Feel poorer after the S&P 500's sell-off? Just know it could be worse. Much worse. Investors who piled in some $40 billion firms found out.
MarketWatch Picks has highlighted these products and services because we think readers will find them useful; the MarketWatch News staff is not involved in creating this content. Mortgage rates on 30-year fixed rate loans have climbed from about 3.5% earlier this year to upwards of 5.6%, and pros say they may go higher (see the lowest mortgage rates you can qualify for here). Home prices too have made a steady climb upwards, growing about 20% from March 2021 to March 2022, according to CoreLogic.
Micron could be the cheapest tech stock in the market, based on its price/earnings ratio. Western Digital isn’t far behind.
Big downturns are part of the investing game. No one knows where the bottom is, but here’s where to find good deals in quality stocks.
Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. Most of the 20.27 million millionaires in the U.S. did not … Continue reading → The post Where Do Millionaires Keep Their Money? appeared first on SmartAsset Blog.
In this article, we will discuss the 12 best energy stocks for 2022. If you want to skip our detailed analysis of the energy sector which highlights key trends and major players, you can go directly to 5 Best Energy Stocks for 2022. The energy sector has been the biggest contributor to skyrocketing inflation in […]
The departing executives said he was asked to leave by the CEO, who "wants to take the team in a different direction."
A rally attempt is underway. Get ready, get set, but don't go just yet. Chevron, Broadcom, Tesla and Twitter are among stocks to watch.
Friday's mini-rally notwithstanding, it’s getting ugly out there. Bottom line: The market may shoot back up anytime, but this doesn’t feel like a plain-vanilla dip
A Friday rally saves the S&P 500 from a technical bear market, but leaves questions hanging: How long will this last, and will it end in recession?
Billionaire Warren Buffet is one of two people in the top ten richest people in the world who has seen his net worth rise since January, according to the Bloomberg Billionaires Index. The CEO of Berkshire Hathaway ( (BRK.A) - Get Berkshire Hathaway Inc. Class A Report, is ranked number five on the index, which is a daily ranking of the world's richest people. The only other billionaire in the top 10 of the Bloomberg list is Gautam Adani, an Indian infrastructure magnate that owns real estate, commodities and power generation and transmission, whose total net worth is $102 billion and his year-to-date performance is a profit of $25.5 billion.
The digital banking company has gotten crushed this year along with many other tech and fintech stocks.
(Bloomberg) -- If the worst-case scenario for Germany hits, BMW AG, Mercedes-Benz AG and Volkswagen AG would struggle to paint their cars and the air across the country would get dirtier.Most Read from BloombergElon Musk Sows Doubt Over His $44 Billion Twitter TakeoverSony PlayStation Staff Fume Over CEO’s Abortion CommentsApple Testing iPhones That Ditch Lightning Ports in Favor of USB-CIndia Bans Wheat Exports as Food Security Comes Under ThreatElon Musk Trolls TwitterEurope’s largest economy
Investors liked what they heard from the metaverse pioneer, and the stock price is shooting higher. The stock was under pressure for several quarters as investors worried about how customer engagement would adapt as economies reopened. The update assuaged some of those concerns, but Roblox stock is still some 80% off its high even after the recent rise.
You may soon be able to ditch your passwords for good.