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NESR Announces Partnership with Beyond Energy for Managed Pressure Drilling

Monday, 19 April 2021 05:00 AM

National Energy Services Reunited Corp

HOUSTON, TX / ACCESSWIRE / April 19, 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") and Asia Pacific regions, today announced that it has entered into a partnership and started operations with Beyond Energy Services and Technology ("Beyond") to provide and deploy Managed Pressure Drilling ("MPD") services in the Middle East, Asia, and Africa regions.

Jason Lock, President of Beyond stated, "Beyond has progressed a lot in the last few years and has grown from a startup to become one of the major players in North America today. We have achieved this by developing technologies based on the design and field execution knowledge and expertise of the Beyond team as well as the desire to bring a step change to MPD operations globally with automation merged with real first-hand knowledge of field operations. With this partnership with NESR, we hope to leverage their extensive footprint and excellent customer engagement to take our services internationally in the key markets where we have been awarded contracts and where customers have requested us to provide MPD services."

"I am quite pleased to see this partnership with Beyond take concrete shape with the progress we have made with our customers in this sphere not only in the MENA region but in Asia and Africa as well. As we continuously expand and focus on our Drilling Services portfolio, it is very important we bring to the forefront innovative technology companies like Beyond who have successfully merged deep field expertise with technological advancements to gain significant market share in North America," said Sherif Foda, Chairman of the Board and CEO of NESR. "Also, our customers in the region and outside are actively seeking solutions to their drilling technology and operational challenges which are not being adequately addressed by the existing offerings to which they have access, MPD being one of them, and hence we believe this partnership is very timely especially with the recent contract awards in Malaysia and Ivory Coast which are being mobilized."

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.

About Beyond Energy Services and Technology

Founded in 2015, Beyond Energy Services & Technology is a private oilfield service company based in Alberta, Canada and led by some of the most well-known and experienced MPD and Drilling Fluids professionals globally. Beyond offers MPD services and state-of-the-art packages with the smallest footprint in the industry, fully automated set-point controls, patented nitrogen backpressure system, patented walking system, a suite of patented RCD systems and several other patented technologies. Beyond provides MPD and Drilling Fluids support for those applications requiring detailed analysis and operational planning. Experienced in HPHT wells, depleted zones, and underbalanced drilling, Beyond's team has experience designing and supervising operations around the globe for some of the most challenging wells drilled over the last +20 years.

Forward-Looking Statements

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:

Christopher Boone or Dhiraj Dudeja
National Energy Services Reunited Corp.
[email protected]

SOURCE: National Energy Services Reunited Corp.

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