National Energy Services Reunited (NESR) Fireside Chat summary

Introduction and agenda

• Discussion included forward-looking statements as of April 10, 2025, focusing on NESR's operations and market outlook in the MENA region.

Background and experience of the speaker

• NESR was designed as a local, Middle East-centric company with strong ties to U.S. capital markets, leveraging the founder's multinational background.

• The company maintains a small Houston office for investor and technology access, but the majority of operations and staff are in the MENA region.

Current industry trends

• MENA oilfield services markets are characterized by long-term contracts and relative stability compared to the U.S., with less sensitivity to oil price volatility.

• OPEC+ production decisions and regional capacity management drive activity, with Saudi Arabia leading in flexible production.

• Regional CapEx is expected to grow 3%-5% in 2025, while NESR targets 10% growth.

• Gas is increasingly prioritized for internal consumption and environmental goals, with projects like Jafurah in Saudi Arabia insulated from global gas price swings.