National Energy Services Reunited (NESR) Announces Award of Several Production Services Contracts in Libya and Algeria

National Energy Services Reunited Corp. (NASDAQ:NESR) is one of the top cheap stocks that will go to the moon according to Reddit. On August 13, National Energy Services Reunited Corp. (NASDAQ:NESR) announced the award of several Production Services contracts in Libya and Algeria. Management stated that the total value of the contracts is expected to surpass $100 million.

A drilling rig in action, operated by an oilfield services team.

The contract awards vary from three to five years in duration and include core Production Services segments such as Nitrogen & Pumping Services, Coiled Tubing, and Cementing and Hydraulic Fracturing.

National Energy Services Reunited Corp. (NASDAQ:NESR) stated that the wins help extend and solidify the company’s regional leadership in these segments, highlighting consistent activity growth emerging across key anchor countries in North Africa.

National Energy Services Reunited Corp. (NASDAQ:NESR) CEO & Chairman Sherif Foda commented:

“These awards not only enhance our existing leadership within our largest product lines, but also provide the platform upon which innovation and technology development can thrive in both Algeria and Libya. The activity growth in both countries remains solid, with several strategic projects in both oil and gas, and these wins reflect the commitment we’ve made to maintain our strong local presence, empower local talent by operating 100% with national crews, and invest countercyclically in the coming years to be the reliable and trusted provider to our customers.”

National Energy Services Reunited Corp. (NASDAQ:NESR) provides oilfield services. The company’s operations are divided into the following segments: Production Services and Drilling & Evaluation Services.

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Disclosure: None. This article is originally published at Insider Monkey.