NESR Pockets Over $100M Of Contract Awards In North Africa

National Energy Services Reunited Corp NESR has received multiple contract awards worth ~$100 million over three years commencing in 2022 and evenly split between the Production and Drilling and Evaluation segments in North Africa countries.
The awards mark the expansion of NESR into evaluation service lines in Algeria and Egypt and the further development of production services in Algeria.
"We secured a strong position with a few clients in well testing and slickline services where we have gained accretive market share to become a major player in these service lines," stated Sherif Foda, Chairman of the Board and CEO of NESR.
Price Action: NESR shares closed higher by 0.64% at $9.45 on Friday.

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