National Energy Services Reunited Corp. (NESR) is a leading oilfield services provider operating primarily in the Middle East North Africa (MENA) region and extending to the Asia Pacific. The company specializes in delivering essential upstream and midstream services to national and international oil companies, supporting drilling, completion, and remedial work on oil and natural gas wells. NESR offers a range of services through its two main product lines, focusing on production and drilling solutions.
- Production Services - Provides hydraulic fracturing, coiled tubing, stimulation and pumping, cementing, nitrogen services, filtration services, pipelines and industrial services, production assurance, artificial lift services, completions, and integrated production management.
- Drilling and Evaluation Services - Offers rigs and integrated services, fishing and downhole tools, thru-tubing intervention, tubular running services, directional drilling, drilling and completion fluids, pressure control, well testing services, wireline logging services, and slickline services.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Sherif Foda ExecutiveBoard | Executive Chairman of the Board and Chief Executive Officer (CEO) | Board member at Energy Recovery, Inc. (Nasdaq: ERII); Board of Trustees of Awty International School in Houston; Chairman of the Board of WDVG Engineering in Houston; Board member at GLC Energy Company in London; Board member at Salttech BV in Holland; Board member at Al Fanar Venture philanthropy in London; Member of the Oxford Energy Policy Club in the UK | Sherif Foda has served as the CEO of NESR since 2017, having founded the company as a SPAC to establish the first and largest publicly listed energy services company from the MENA region. He leverages over 25 years of industry expertise from his previous roles at Schlumberger and serves on multiple external boards. | View Report → |
Stefan Angeli ExecutiveBoard | Chief Financial Officer | Board member at ICE Thermal Holdings, LLC; Board member at Kinetic Pressure Control Ltd.; Board member at W. D. Von Gonten Engineering LLC | Stefan Angeli has been the Chief Financial Officer at NESR since February 8, 2022. He also serves as a board member for ICE Thermal Holdings, LLC, Kinetic Pressure Control Ltd., and W. D. Von Gonten Engineering LLC, reflecting his extensive expertise in the energy sector. | |
Dhiraj Dudeja Executive | Chief Commercial Officer | Board member of ICE Thermal Harvesting; Board member of Kinetic Upstream Technologies; Board member of WDVG Engineering; Founding supporter of The Nudge Institute | Dhiraj Dudeja has served as NESR's Chief Commercial Officer since its inception in 2017. With over 25 years of experience in the oil and natural gas industry, he drives strategic initiatives in mergers and acquisitions as well as sales and marketing, while also holding external board roles. | |
Jennifer Howard Executive | General Counsel | Jennifer Howard serves as General Counsel of NESR since November 18, 2024 and holds no additional board or committee roles as per the documents. |
- Given the guidance of Q4 margins potentially rising to the 23–24% range, can you detail which specific cost pressures or shifting tariff impacts might challenge this outlook and what mitigation strategies you have in place?
- In aiming for the ambitious $2,000,000,000 revenue target, what are your contingency plans if key tender awards or contract backlogs in the MENA region do not materialize within the next 3–6 months?
- With ongoing refinancing and the potential for stock buybacks, can you clarify the timeline and key criteria that will drive the decision to allocate excess cash toward repurchases rather than further debt reduction?
- As you expand into unconventional fracking and broaden your production services in markets like Kuwait and Saudi, what specific operational benchmarks or efficiency gains are you targeting to justify the associated incremental CapEx?
- Given the observed fluctuations in working capital metrics, particularly the variations in DSO, how does management plan to balance rapid revenue growth with maintaining efficient cash conversion cycles across diverse international markets?
Research analysts who have asked questions during National Energy Services Reunited earnings calls.
Arun Jayaram
JPMorgan Chase & Co.
2 questions for NESR
Derek Podhaizer
Piper Sandler Companies
2 questions for NESR
Gregory Lewis
BTIG, LLC
2 questions for NESR
Jeffrey Robertson
Water Tower Research
2 questions for NESR
John Anderson
Barclays
2 questions for NESR
Arvind Sanger
Geosphere Capital Management
1 question for NESR
Arvind Singhar
Geosphere Capital Management
1 question for NESR
David Anderson
Barclays PLC
1 question for NESR
Derek Potheiser
Piper Sandler
1 question for NESR
Grant Hynes
JPMorgan Chase & Co.
1 question for NESR
Greg Lewis
BTIG
1 question for NESR
J. David Anderson
Barclays
1 question for NESR
Jeff Robertson
Water Tower Research
1 question for NESR
John Ajay
Occam Crest Management
1 question for NESR
Saurabh Pant
Bank of America
1 question for NESR
Recent press releases and 8-K filings for NESR.
- National Energy Services Reunited Corp. reported revenues of $630,470 thousand and net income of $25,592 thousand for the six-month period ended June 30, 2025, with diluted EPS of $0.26.
- As of June 30, 2025, the company had $131,802 thousand in cash and cash equivalents and $138,400 thousand in current available borrowing capacity, and was in compliance with all financial and non-financial covenants under its 2021 Secured Facilities Agreement.
- For the three-month period ended June 30, 2025, the Drilling and Evaluation Services segment's operating income was $20,714 thousand, while the Production Services segment's operating income was $22,696 thousand.
- The company successfully remediated its previously reported material weakness related to tone at the top, and new independent directors joined the Board in June 2024 and May 2025.
- National Energy Services Reunited Corp. (NESR) completed its exchange offer and consent solicitation for outstanding warrants on July 3, 2025.
- 96.05% of outstanding warrants were tendered in the offer, resulting in the issuance of 3,413,645 Ordinary Shares.
- NESR will exercise its right to mandatorily exchange all remaining untendered warrants for Ordinary Shares at a ratio of 0.09 Ordinary Shares per Warrant, with the exchange date fixed for July 18, 2025.
- As a result of these actions, no warrants will remain outstanding, and they are expected to be suspended from Nasdaq trading and delisted.
- National Energy Services Reunited Corp. (NESR) announced the expiration and results of its exchange offer and consent solicitation for its outstanding warrants on July 1, 2025.
- Approximately 96.05% of the outstanding warrants (34,135,493 Warrants) were validly tendered, and NESR expects to settle these by July 3, 2025.
- The company received approval from 96.05% of outstanding warrants for an amendment to the warrant agreement, allowing NESR to convert any remaining untendered warrants into 0.09 Ordinary Shares per warrant, after which no warrants will remain outstanding.
- National Energy Services Reunited Corp. reported revenue of $303.1 million for the three-month period ended March 31, 2025, an increase from $296.8 million in the prior year period.
- Net income for the three-month period ended March 31, 2025, was $10.4 million, up from $10.0 million in the same period of 2024.
- Cash flows provided by operating activities significantly decreased to $20.5 million for the three-month period ended March 31, 2025, compared to $69.6 million for the same period in 2024, primarily due to seasonal working capital changes.
- The company continues to have a material weakness in its internal control over financial reporting and faces a $1.2 million civil monetary penalty if not remediated by August 28, 2025.