National Energy Services Reunited Corp · NASDAQ:NESR
National Energy Services Reunited — Investor Presentation (May 2022)
22 slides from National Energy Services Reunited's investor presentation, May 2022
Slide 1: National Energy Services Reunited Corp.
National Energy Services Reunited Corp. MENA National Champion | Story Of Many “Firsts” May 2022 Sherif Foda Chairman & Chief Executive Officer |1
Slide 2: Safe Harbor and Other Disclaimers
Safe Harbor and Other Disclaimers This presentation (the “Presentation”) is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of National Energy Services Reunite
Slide 3: O&G Macro: MENA Poised For Multi-Year Upcycle
O&G Macro MENA Poised For Multi-Year Upcycle |3
Slide 4: O&G Macro – Most Favorable S/D Balance In Decades
O&G Macro – Most Favorable S/D Balance In Decades Oil Demand – Upward March from 100mmbpd S/D Shortfall (OPEC Planned Output) Global Oil Demand (mmbpd) Global Oil Supply (mmbpd) Pre-Pandemic ~100mmbpd • Oil demand eclipsed 100mmbpd in 4Q21 with broad-based pandemic recovery. 106 50 Demand - Marching
Slide 5: Upstream Spending – Multi-Year Cycle Unfolding
Upstream Spending – Multi-Year Cycle Unfolding A More Balanced Global Upstream Cycle as Middle East/GCC Set To Accelerate in 2H22+ MENA Spending – Relatively resilient • NAM growth led by the privates, as publics largely committed to shareholder returns & ESG. in the 2020 global downturn, slower- •
Slide 6: MENA Spending in Focus – Key GCC Countries
MENA Spending in Focus – Key GCC Countries Aramco (Saudi Arabia) Raising the Bar to 13mm bpd by 2027 • Grow max sustainable oil capacity (MSC) to 13mmbpd by 2027. Grow gas potentially “The Company also announced its growth strategy, which in its 50% by 2030. Upstream business includes continuing to
Slide 7: NESR Overview
NESR Overview |7
Slide 8: First GCC+ Energy SPAC With US (Nasdaq) Listing – M&A Vehicle
First GCC+ Energy SPAC With US (Nasdaq) Listing – M&A Vehicle NESR Strategy – Including Four Pillars 2017 US Nasdaq Listing ▪ Build “National Champion” of MENA, disciplined M&A/attractive valuation. ▪ 1st multi-GCC listing on US exchange (Nasdaq). ▪ Four Pillars: ▪ 2018 Merger – Saudi, Oman, UAE, Qa
Slide 9: Pillar #1: First Pure-Play Middle East/North Africa (MENA) Energy Services
Pillar #1: First Pure-Play Middle East/North Africa (MENA) Energy Services ▪ Unique structure of multiple HQ with diversified management: Houston, Saudi Arabia, Oman, UAE with regional offices and support hub across MENA and Asia Pacific ▪ Operations Bases: 15 Countries ▪ 5,500+ Employees ▪ 20 Produ
Slide 10: Pillar #2: Build Balanced & Diversified Contract Portfolio
Pillar #2: Build Balanced & Diversified Contract Portfolio Bevy Of Recent Contract Awards Underpin Constructive Outlook & Accretive Growth Future: ▪ Oct 2020 – Oman – Nine (9) year Diversified Services award estimated over $1 billion. ▪ Jan 2021 – Kuwait – Five (5) year Testing Services award & entr
Slide 11: Pillar #3: Tech Portfolio Expansion Through Partners, R&E
Pillar #3: Tech Portfolio Expansion Through Partners, R&E Technology Portfolio Expansion to Enhance the Base OFS Offering & Expand Into New Frontiers… ▪ Drilling & Evaluation (D&E) – Ulterra (Bits), Kinetic (PCE), Phoenix (Motors), and organic investment in the ROYATM Directional & Rotary Steerable
Slide 12: Pillar #4 – ESG Impact: NESR Leadership In Decarbonization
Pillar #4 – ESG Impact NESR Leadership In Decarbonization | 12
Slide 13: ESG Impact – Thesis
ESG Impact – Thesis Energy Transition Is Important, But Will Take Time… • Upstream Decarbonization – O&G production Supplier to Industry & needed but needs to be sustainable. Community • Circular Economy – What else do O&G wells Waste produce? Recover materials for oilfield use. Gas • From Consumer
Slide 14: Water Treatment – Case Study – Saudi Arabia (Salttech)
Water Treatment – Case Study – Saudi Arabia (Salttech) Challenge – Client wanting to treat high salinity GOSP water to freshwater at zero liquid discharge (ZLD) level, to use in a variety of applications (oilfield, irrigation, community). • Solution – Salttech DyVaR unit for extremely efficient desa
Slide 15: Water Treatment – Case Study – Iraq (CleanTeQ)
Water Treatment – Case Study – Iraq (CleanTeQ) Challenge – Client wanting to treat high TDS water to oilfield brine to support workover operations. • Solution – CleanTeQ HIROX/CIF unit to selectively remove heavies and improve desalination yield. • Water Circular Economy – Using produced water (wast
Slide 16: Emissions Detection – Case Study – Indonesia
Emissions Detection – Case Study – Indonesia Challenge – Geothermal power producer in Indonesia to monitor 1) H2S (flow tests proximal to school/village), and 2) CH4 emissions (GHG & leak visualization). • Solution – Eight (8) NESR Qube sensors deployed around the plant. First tech that can monitor
Slide 17: Global Connectivity Bringing Carbon Markets to MENA
Global Connectivity Bringing Carbon Markets to MENA Saudi Arabia Industries & PIF leading the way on MENA voluntary carbon markets. In March 2022, Saudi extended its decarbonization leadership by announcing collaboration between the Saudi PIF (sovereign fund) and five key industrial partners (includ
Slide 18: MENA Growth Track Record
MENA Growth Track Record | 18
Slide 19: Unmatched Growth Track Record With Upcycle Tailwinds Ahead
Unmatched Growth Track Record With Upcycle Tailwinds Ahead Pure Play MENA Growth Story – NESR estimates its own market share <5% of an overall MENA upstream budget of $20B+, with plenty of market share runway through new contract wins. NESR Historical Revenue (2013-2021E) SPAC Strategy Accelerated N
Slide 20: Turbo-Charged Potential With Impending Supercycle
Turbo-Charged Potential With Impending Supercycle MENA Cycle Supercharged – NESR & industry analysts forecast MENA upstream spending CAGR of ~15% through 2024, with NESR having historically outperformed regional growth through 1) Geographic/Country Expansion, 2) D&E Portfolio “Pull-Through”, 3) Tech
Slide 21: First and Only NASDAQ listed MENA OFS Company
First and Only NASDAQ listed MENA OFS Company | 21
Slide 22: Thank you
Thank you | 22
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