---
id: 5419
title: "National Energy Services Reunited: Most Promising Energy Value Creation IPO United States 2017"
award_year: 2018
published: 2018-05-14 10:10:32
published_gmt: 2018-05-14 09:10:32
author: "CFI.co Editorial"
url: "https://cfi.co/awards/north-america/2018/national-energy-services-reunited-most-promising-energy-value-creation-ipo-united-states-2017/"
categories: ["Industries", "North America", "Oil & Gas"]
content_class: award_rationale
independence_status: independent_editorial
sponsor_disclosure: none
editorial_lens: constructive_positive_lens
historical_status: current_at_publication
correction_status: none
archive_policy: no_delete
provenance_layer: github_versioned
wayback_status: archived
wayback_first_snapshot: 20190724090033
wayback_snapshot_url: "http://web.archive.org/web/20190724090033/https://cfi.co/awards/north-america/2018/national-energy-services-reunited-most-promising-energy-value-creation-ipo-united-states-2017/"
license: CFI-OAAL-1.0
content_sha256: 4648fe84c8e15ef5bb05263221e086f97dcc70b7dee70ed0937d09249b116e76
canonical: 5419-national-energy-services-reunited-most-promising-energy-value-creation-ipo-unite.json
---

# National Energy Services Reunited: Most Promising Energy Value Creation IPO United States 2017

> Verbatim archived copy. Canonical machine record: `5419-national-energy-services-reunited-most-promising-energy-value-creation-ipo-unite.json`.

<p style="text-align: justify;"><strong><img class="aligncenter size-full wp-image-5421" src="https://cfi.co/awards/wp-content/uploads/2018/04/NESR.jpg" alt="" width="390" height="306" /></strong></p>
<p style="text-align: justify;"><strong>Raising almost $230m with its initial public offering (IPO), Houston-based National Energy Services Reunited (NESR) aims to identify and seize exceptional opportunities in the oil and gas services industry in the Middle East and elsewhere. A special purpose acquisition company, NESR offers investors a possibility to benefit from its expertise in finding value in businesses primed for takeover and expansion. Investor funds are held in escrow until suitable candidates have been tagged and approved by shareholders who may redeem their shares before any funds are committed.</strong></p>
<p style="text-align: justify;">Late last year, NESR announced the formation of a regional oilfield services company for the Middle East and North Africa after it agreed to take over Gulf Energy SAOC and National Petroleum Services. The new group employs over 3,000 people in more than a dozen countries and offers a full array of drilling, completion, and production services. NESR raised an additional $250m from private investors to enable closing on both transactions. A $100m backstop facility was added to provide liquidity for any potential redemptions requested by shareholders.</p>
<p style="text-align: justify;">NESR was careful to keep in place the management of the individual companies to ensure continued access to the available expertise. The anticipated synergies will drive strong growth and allow the group to expand into new markets and strengthen its position across the region. NESR is particularly pleased to offer a comprehensive palette of services that includes the servicing of complex wells in Saudi Arabia, Oman, and elsewhere.</p>
<p style="text-align: justify;">The CFI.co judging panel notes that NESR insists on keeping to the most exacting standards of corporate governance in order to best serve the interests of all stakeholders. NESR is the first special purpose acquisition company to move into the global oilfield services sector. The judges agree that, as such, NESR enjoys optimum exposure to the upside of a booming industry. The judging panel declares National Energy Services Reunited winner of the 2017 Most Promising Energy Value Creation IPO United States Award.</p>