National Energy Services Reunited Corp. (NASDAQ: NESR) is one of the largest oilfield services provider in the Middle East, North Africa and Asia (“MENA”) region.
NESR started out as special purpose acquisition corporation, SPAC, designed to invest in the oilfield services space globally in May 2017. In November 2017, NESR announced the acquisition of two most prominent oilfield services companies in the MENA region: Gulf Energy SAOC (GES) and National Petroleum Services (NPS). The formation of NESR as an operating entity was completed in June 2018, after the transactions were approved by Securities and Exchange Commission in United States and NESR shareholders respectively.
NESR is the first and only NASDAQ listed national oilfield services company in the MENA region. This is the first time a national oilfield services company will have the scale and access to technology to compete in most of the major markets in the region and provide a viable National alternative. We are already seeing tangible signs where the strength of each company is helping NESR to improve its market position.
