Gradiant Energy Services Announces Entering into MOU with NESR for the MENA Region

DENVER-- (BUSINESS WIRE/AETOSWire)-- Gradiant Energy Services (“GES”), a leading service provider for produced and flowback water treatment and recycling solutions, announced today that it has entered into a Memorandum of Understanding (“MOU”) with one of the of the largest oilfield services provider in the Middle East, North Africa (MENA) and Asia, National Energy Services Reunited Corp. (NESR) (NASDAQ: NESR).

The MOU sets forth the terms and understanding between both companies to deploy GES’ technologies and equipment in the MENA region where NESR operates. Both companies are set to join efforts to bring GES unique water technical solution capabilities leveraging NESR’s strong operational reputation, footprint and resources in the Middle East and Asia.

“GES is regarded as the company of choice for unique and tough water challenges. Our track record across the space is the result of our deep expertise around water solutions,” said Danny Jimenez, Chairman and CEO of Gradiant Energy Services. “Middle East Oil and Gas operators have learned about the value we bring to clients in places like the Permian and over the last year or so, we have received direct inbound requests from relevant operators in that region to provide them with our technical solutions. When we explored ways to enter the market, we found NESR’s presence and strong reputation in the region to be a unique combination for a partnership.”

Sherif Foda, CEO and Chairman of the Board of NESR commented: “We believe that sustainable water strategies and preserving freshwater resources need to be front and center in the execution of the extensive unconventional and conventional gas programs in the region. Water conservation, in every area we operate in, is an important pillar of NESR’s overall ESG strategy. NESR is taking the lead in introducing technologies and know how, to help our customers continue to produce in an environmentally sustainable manner from these reservoirs. We have been looking very closely into this space for quite some time and after evaluating the wide spectrum of methodologies and technologies available, we decided to partner with GES because of their deep expertise in operation and research. GES will help NESR provide clients with specific and differentiated technical water treatment solutions so our clients can achieve their production goals in an environmentally responsible manner.”