2023 Q4 Form 20-F Financial Statement

#000149315224017128 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $1.146B
YoY Change 25.99%
Cost Of Revenue $997.3M
YoY Change 18.15%
Gross Profit $148.7M
YoY Change 127.02%
Gross Profit Margin 12.97%
Selling, General & Admin $49.17M
YoY Change 3.46%
% of Gross Profit 33.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $142.2M
YoY Change 22.78%
% of Gross Profit 95.68%
Operating Expenses $49.17M
YoY Change 3.46%
Operating Profit $80.70M
YoY Change -8900.76%
Interest Expense $45.83M
YoY Change 34.28%
% of Operating Profit 56.78%
Other Income/Expense, Net -$4.131M
YoY Change -178.81%
Pretax Income $29.85M
YoY Change -200.15%
Income Tax $17.27M
% Of Pretax Income 57.85%
Net Earnings $12.58M
YoY Change -134.54%
Net Earnings / Revenue 1.1%
Basic Earnings Per Share $0.13
Diluted Earnings Per Share $0.13
COMMON SHARES
Basic Shares Outstanding 95.00M shares 94.75M shares
Diluted Shares Outstanding 94.75M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.82M
YoY Change -13.99%
Cash & Equivalents $67.82M $67.82M
Short-Term Investments
Other Short-Term Assets $10.76M $68.42M
YoY Change -35.46% 33.43%
Inventory $98.43M $98.43M
Prepaid Expenses $9.238M
Receivables $171.3M $267.3M
Other Receivables $39.78M $39.78M
Total Short-Term Assets $541.7M $541.7M
YoY Change 0.73% 0.73%
LONG-TERM ASSETS
Property, Plant & Equipment $442.7M $474.3M
YoY Change -3.99% -3.41%
Goodwill $645.1M
YoY Change 0.0%
Intangibles $84.30M
YoY Change -18.08%
Long-Term Investments
YoY Change
Other Assets $52.33M $52.33M
YoY Change 1.67% 1.67%
Total Long-Term Assets $1.256B $1.256B
YoY Change -2.67% -2.67%
TOTAL ASSETS
Total Short-Term Assets $541.7M $541.7M
Total Long-Term Assets $1.256B $1.256B
Total Assets $1.798B $1.798B
YoY Change -1.67% -1.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $351.2M
YoY Change -0.65%
Accrued Expenses $7.406M
YoY Change 18.25%
Deferred Revenue
YoY Change
Short-Term Debt $48.89M $48.89M
YoY Change -45.61% -45.61%
Long-Term Debt Due $71.74M $75.15M
YoY Change 34.47% 35.11%
Total Short-Term Liabilities $533.4M $533.4M
YoY Change -1.95% -1.95%
LONG-TERM LIABILITIES
Long-Term Debt $331.6M $335.7M
YoY Change -15.39% -14.38%
Other Long-Term Liabilities $57.15M $107.1M
YoY Change 40.72% 19.2%
Total Long-Term Liabilities $388.7M $442.8M
YoY Change -10.12% -8.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $533.4M $533.4M
Total Long-Term Liabilities $388.7M $442.8M
Total Liabilities $976.2M $976.2M
YoY Change -4.85% -4.85%
SHAREHOLDERS EQUITY
Retained Earnings -$62.44M
YoY Change -16.77%
Common Stock $883.9M
YoY Change 0.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $821.5M
YoY Change
Total Liabilities & Shareholders Equity $1.798B $1.798B
YoY Change -1.67% -1.67%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $12.58M
YoY Change -134.54%
Depreciation, Depletion And Amortization $142.2M
YoY Change 22.78%
Cash From Operating Activities $177.0M
YoY Change 91.15%
INVESTING ACTIVITIES
Capital Expenditures $68.19M
YoY Change -44.3%
Acquisitions
YoY Change
Other Investing Activities $1.000M
YoY Change -86.76%
Cash From Investing Activities -$83.46M
YoY Change -43.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $54.76M
YoY Change -30.46%
Cash From Financing Activities -$104.5M
YoY Change 43.59%
NET CHANGE
Cash From Operating Activities $177.0M
Cash From Investing Activities -$83.46M
Cash From Financing Activities -$104.5M
Net Change In Cash -$11.03M
YoY Change -91.31%
FREE CASH FLOW
Cash From Operating Activities $177.0M
Capital Expenditures $68.19M
Free Cash Flow $108.8M
YoY Change -464.52%

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802348000 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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1145915000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909517000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
876729000 usd
CY2023 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
997265000 usd
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
844039000 usd
CY2021 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
873948000 usd
CY2023 us-gaap Gross Profit
GrossProfit
148650000 usd
CY2022 us-gaap Gross Profit
GrossProfit
65478000 usd
CY2021 us-gaap Gross Profit
GrossProfit
2781000 usd
CY2023 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
49173000 usd
CY2022 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47530000 usd
CY2021 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28071000 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
18774000 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
18865000 usd
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
18042000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
80703000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023 us-gaap Interest Expense
InterestExpense
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CY2022 us-gaap Interest Expense
InterestExpense
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CY2021 us-gaap Interest Expense
InterestExpense
15174000 usd
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OtherOperatingIncomeExpenseNet
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CY2022 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5242000 usd
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
29846000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17266000 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6619000 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3989000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
12580000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92962048 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91043830 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94748324 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92962048 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.71
CY2023 us-gaap Profit Loss
ProfitLoss
12580000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
5000 usd
CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
12580000 usd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
802348000 usd
CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6763000 usd
CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
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CY2023 us-gaap Net Income Loss
NetIncomeLoss
12580000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
821494000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
821034000 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9269000 usd
CY2022 NESR Stock Issued During Period Value Current Expected Credit Loss
StockIssuedDuringPeriodValueCurrentExpectedCreditLoss
-2773000 usd
CY2022 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
11238000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
802348000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
859943000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
859943000 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9759000 usd
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
17569000 usd
CY2021 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
1674000 usd
CY2021 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
5000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
821034000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
821034000 usd
CY2023 us-gaap Profit Loss
ProfitLoss
12580000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
142230000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115845000 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
122125000 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
6763000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
9269000 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
9759000 usd
CY2023 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-487000 usd
CY2022 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
60000 usd
CY2021 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
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CY2023 NESR Noncash Interest Expense
NoncashInterestExpense
1549000 usd
CY2022 NESR Noncash Interest Expense
NoncashInterestExpense
8087000 usd
CY2021 NESR Noncash Interest Expense
NoncashInterestExpense
3041000 usd
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3753000 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-10261000 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12140000 usd
CY2023 NESR Allowance For Reversal Of Doubtful Receivables
AllowanceForReversalOfDoubtfulReceivables
410000 usd
CY2022 NESR Allowance For Reversal Of Doubtful Receivables
AllowanceForReversalOfDoubtfulReceivables
8185000 usd
CY2021 NESR Allowance For Reversal Of Doubtful Receivables
AllowanceForReversalOfDoubtfulReceivables
1114000 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
137000 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
100000 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
3610000 usd
CY2021 NESR Earnouts On Business Combinations
EarnoutsOnBusinessCombinations
-1767000 usd
CY2023 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
7917000 usd
CY2022 NESR Loss Gain On Buyer Stock Adjustment
LossGainOnBuyerStockAdjustment
4236000 usd
CY2023 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
933000 usd
CY2022 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
837000 usd
CY2021 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-75000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
22971000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
29252000 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8289000 usd
CY2023 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-14189000 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1704000 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-56088000 usd
CY2023 NESR Increase Decrease In Retention Withholdings
IncreaseDecreaseInRetentionWithholdings
14151000 usd
CY2022 NESR Increase Decrease In Retention Withholdings
IncreaseDecreaseInRetentionWithholdings
-6837000 usd
CY2021 NESR Increase Decrease In Retention Withholdings
IncreaseDecreaseInRetentionWithholdings
4000000 usd
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-11951000 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16756000 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3236000 usd
CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
8901000 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-6164000 usd
CY2021 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
884000 usd
CY2023 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-2817000 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
13711000 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
16717000 usd
CY2023 NESR Increase Decrease In Other Long Term Assets And Liabilities
IncreaseDecreaseInOtherLongTermAssetsAndLiabilities
-16259000 usd
CY2022 NESR Increase Decrease In Other Long Term Assets And Liabilities
IncreaseDecreaseInOtherLongTermAssetsAndLiabilities
-6075000 usd
CY2021 NESR Increase Decrease In Other Long Term Assets And Liabilities
IncreaseDecreaseInOtherLongTermAssetsAndLiabilities
-8854000 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-3365000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
33651000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
31221000 usd
CY2023 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
11878000 usd
CY2022 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
9926000 usd
CY2021 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-260000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
176959000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
92576000 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
127743000 usd
CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
68190000 usd
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
122415000 usd
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
107076000 usd
CY2023 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
16031000 usd
CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
17367000 usd
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1758000 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
626000 usd
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2760000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
51921000 usd
CY2023 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 usd
CY2022 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
7552000 usd
CY2021 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8299000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-83463000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
11300000 usd
CY2022 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
3194000 usd
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
527488000 usd
CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
54763000 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
78755000 usd
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
360000000 usd
CY2023 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
94506000 usd
CY2022 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
139482000 usd
CY2021 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
123787000 usd
CY2023 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
137402000 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
119165000 usd
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2800000 usd
CY2021 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
78983000 usd
CY2023 NESR Payments On Capital Leases
PaymentsOnCapitalLeases
2403000 usd
CY2022 NESR Payments On Capital Leases
PaymentsOnCapitalLeases
3108000 usd
CY2021 NESR Payments On Capital Leases
PaymentsOnCapitalLeases
21361000 usd
CY2023 NESR Payments On Sellerprovided Financing For Capital Expenditures
PaymentsOnSellerprovidedFinancingForCapitalExpenditures
15569000 usd
CY2022 NESR Payments On Sellerprovided Financing For Capital Expenditures
PaymentsOnSellerprovidedFinancingForCapitalExpenditures
14443000 usd
CY2021 NESR Payments On Sellerprovided Financing For Capital Expenditures
PaymentsOnSellerprovidedFinancingForCapitalExpenditures
15333000 usd
CY2023 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-197000 usd
CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8054000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-104528000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-72795000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
167544000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8000 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11032000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-126919000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
130760000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78853000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
205772000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
75012000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
67821000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
78853000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
205772000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
33914000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
19236000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
9890000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15221000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10989000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
12777000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_808_eus-gaap--NatureOfOperations_zbooQMNNaohk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="MS_005"></span>1. <span id="xdx_822_zLRarUnBqDLe">DESCRIPTION OF BUSINESS</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -27.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">National Energy Services Reunited Corp. (“NESR,” the “Company,” “we,” “our,” “us” or similar terms), a British Virgin Islands corporation headquartered in Houston, Texas, is one of the largest oilfield services providers in the Middle East North Africa (“MENA”) region.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Formed in January 2017, NESR started as a special purpose acquisition company (“SPAC”) designed to invest in the oilfield services space globally. NESR filed a registration statement for its initial public offering in May 2017. In November 2017, NESR announced the acquisition of two oilfield services companies in the MENA region: NPS Holdings Limited (“NPS”) and Gulf Energy S.A.O.C. (“GES” and, together with NPS, the “Subsidiaries,” or the “NPS/GES Business Combination”). The formation of NESR as an operating entity was completed on June 7, 2018, after the transactions were approved by the NESR shareholders.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 1, 2020, NESR further expanded its footprint within the MENA region when its NPS subsidiary acquired Sahara Petroleum Services Company S.A.E. (“SAPESCO”). On May 5, 2021, NESR again expanded its footprint within the MENA region when its NPS subsidiary acquired specific oilfield service lines of Action Energy Company W.L.L. (“Action,” or the “Action Business Combination”). On July 1, 2022, NESR acquired a minority stake in W. D. Von Gonten Engineering LLC (“WDVGE” or the “WDVGE Investment”), a premier Reservoir Characterization and Geological &amp; Geophysical (“G&amp;G”) laboratory and consulting business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">NESR’s revenues are primarily derived by providing production services (“Production Services”) such as hydraulic fracturing, coiled tubing, stimulation and pumping, cementing, nitrogen services, filtration services, pipelines and industrial services, production assurance, artificial lift services, completions and integrated production management. NESR also provides drilling and evaluation services (“Drilling and Evaluation Services”) such as rigs and integrated services, fishing and downhole tools, thru-tubing intervention, tubular running services, directional drilling, drilling fluids, pressure control, well testing services, wireline logging services, and slickline services. NESR has significant operations throughout the MENA region including Saudi Arabia, Oman, Kuwait, United Arab Emirates, Algeria, Egypt, Libya, Iraq and Qatar.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -27.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_804_eus-gaap--BasisOfAccounting_zWOcvXsBD2vb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="MS_006"></span>2. <span id="xdx_824_zIsI6SIL0cpc">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: -27.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). All amounts are shown in U.S. dollars, except as noted.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Use of estimates</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s significant estimates include the purchase price allocation for the acquisition of Action, the determination of reserves and future production associated with Integrated Production Management (“IPM”) projects, allowance for credit losses, evaluation for impairment of property, plant and equipment, evaluation for impairment of goodwill and intangible assets, evaluation for impairment of cost and equity method investments (and as required, fair valuation thereof), estimated useful lives of property, plant, and equipment and intangible assets, provision for inventories obsolescence, unrecognized tax benefits, recoverability of deferred tax assets, contingencies, and actuarial assumptions in employee benefit plans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from the estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 27.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 NESR Change In Shares Sapesconesr Ordinary Share Consideration Issued
ChangeInSharesSAPESCONESROrdinaryShareConsiderationIssued
1650000 shares
CY2021 NESR Change In Shares Sapesconesr Ordinary Share Consideration Issued
ChangeInSharesSAPESCONESROrdinaryShareConsiderationIssued
2237000 shares
CY2021 NESR Change In Shares Sapesco Additional Earnout Shares Issued
ChangeInSharesSAPESCOAdditionalEarnoutSharesIssued
145039 shares
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zIFxnOsnMiae" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_zuXbzDSf0Hi9">Concentration of credit risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s assets that are exposed to concentrations of credit risk consist primarily of cash, accounts receivable from customers, unbilled revenue from customers, and retention withholdings. The Company places its cash with financial institutions and limits the amount of credit exposure with any one of them. The Company regularly evaluates the creditworthiness of the issuers in which it invests. The Company minimizes this credit risk by entering into transactions with high-quality counterparties, limiting the exposure to each counterparty and monitoring the financial condition of its counterparties.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
1 pure
CY2022 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0 pure
CY2021 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0 pure
CY2023 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
13700000 usd
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
0.0 usd
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
0.0 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
18800000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
17400000 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
900000 usd
CY2023 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_843_eus-gaap--DerivativesReportingOfDerivativeActivity_zJrSuvkmaL92" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86B_zvlaab36Tj16">Derivative financial instruments</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as an embedded derivative. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as other income (expense).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
161400000 usd
CY2023Q4 NESR Capital Work In Progress
CapitalWorkInProgress
14111000 usd
CY2022Q4 NESR Capital Work In Progress
CapitalWorkInProgress
11324000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
442666000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
461061000 usd
CY2023 us-gaap Depreciation
Depreciation
109700000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
885671000 usd
CY2021 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-64529000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1145915000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909517000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
876729000 usd
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
180989000 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
161373000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9720000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12664000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
171269000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
148709000 usd
CY2023Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
181000000.0 usd
CY2022 us-gaap Depreciation
Depreciation
97000000.0 usd
CY2021 us-gaap Depreciation
Depreciation
104100000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12664000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2052000 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1722000 usd
CY2022 NESR Allowance For Doubtful Accounts Receivable Accounting Standard Adoption
AllowanceForDoubtfulAccountsReceivableAccountingStandardAdoption
-2773000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
410000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-8185000 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-769000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2534000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
346000 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
439000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
9720000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
12664000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2052000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
7200000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
9400000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
98434000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
110521000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
420812000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
323325000 usd
CY2023Q4 us-gaap Land
Land
11664000 usd
CY2022Q4 us-gaap Land
Land
11664000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
645095000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
645095000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P9Y8M12D
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
179440000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
95136000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
84304000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
179440000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
76526000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
102914000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
18600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
18600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16800000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
8100000 usd
CY2023 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
15200000 usd
CY2022 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
14200000 usd
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3290000 usd
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3595000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
166000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
390000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
8715000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
7142000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
146206000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
136818000 usd
CY2023 us-gaap Sublease Income
SubleaseIncome
24000 usd
CY2022 us-gaap Sublease Income
SubleaseIncome
54000 usd
CY2023 us-gaap Lease Cost
LeaseCost
158353000 usd
CY2022 us-gaap Lease Cost
LeaseCost
147891000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
31628000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
29970000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7406000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6263000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25145000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
25051000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
11943000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
7176000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
3403000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
2268000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4128000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
192000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
8317000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
6662000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
166000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
390000 usd
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2403000 usd
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3108000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5855000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1945000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
7679000 usd
CY2022 NESR Derecognition Of Prepaid Rent
DerecognitionOfPrepaidRent
683000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y10M2D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y3M14D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M4D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0760 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0739 pure
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0707 pure
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0588 pure
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8306000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3833000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
7394000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3600000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3847000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
720000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2864000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2285000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
32670000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
57366000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
8153000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24815000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
622000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32551000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
7531000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6967000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2402000 usd
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LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
203000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4958000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2972000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2567000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
34481000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
57328000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2605000 usd
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26014000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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145000 usd
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31314000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2460000 usd
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UnamortizedDebtIssuanceExpense
5170000 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6727000 usd
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LongTermDebt1
403309000 usd
CY2022Q4 NESR Long Term Debt1
LongTermDebt1
445215000 usd
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LongTermDebtCurrent
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LongTermDebtCurrent
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LongTermDebtNoncurrent
331565000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
391863000 usd
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5300000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
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8600000 usd
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CY2022Q4 us-gaap Line Of Credit Facility Interest Rate At Period End
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49001000 usd
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91747000 usd
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DebtInstrumentUnamortizedDiscount
112000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1862000 usd
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ShortTermBorrowings
48889000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
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LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
64500000 usd
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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
193500000 usd
CY2023Q4 us-gaap Long Term Debt
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408479000 usd
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DefinedBenefitPlanBenefitObligation
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DefinedBenefitPlanBenefitObligation
27410000 usd
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DefinedBenefitPlanActuarialGainLoss
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DefinedBenefitPlanActuarialGainLoss
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DefinedBenefitPlanServiceCost
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DefinedBenefitPlanServiceCost
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DefinedBenefitPlansInterestCost
1522000 usd
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DefinedBenefitPlanBusinessCombinationsAndAcquisitionsBenefitObligation
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DefinedBenefitPlanBenefitObligation
33661000 usd
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
28314000 usd
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DefinedBenefitPlanBenefitObligationCurrent
4726000 usd
CY2022Q4 NESR Defined Benefit Plan Benefit Obligation Current
DefinedBenefitPlanBenefitObligationCurrent
3932000 usd
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DefinedBenefitPlanBenefitObligationNonCurrent
28935000 usd
CY2022Q4 NESR Defined Benefit Plan Benefit Obligation Non Current
DefinedBenefitPlanBenefitObligationNonCurrent
24382000 usd
CY2023Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
33661000 usd
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
28314000 usd
CY2023 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
2498000 usd
CY2022 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3519000 usd
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DefinedBenefitPlanPlanAssetsBenefitsPaid
2498000 usd
CY2022 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
3519000 usd
CY2023Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
33661000 usd
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
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DefinedBenefitPlanServiceCost
4979000 usd
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DefinedBenefitPlanServiceCost
4876000 usd
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
4545000 usd
CY2023 NESR Defined Benefit Plan Interest Costs
DefinedBenefitPlanInterestCosts
1522000 usd
CY2022 NESR Defined Benefit Plan Interest Costs
DefinedBenefitPlanInterestCosts
675000 usd
CY2021 NESR Defined Benefit Plan Interest Costs
DefinedBenefitPlanInterestCosts
482000 usd
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DefinedBenefitPlanActuarialGainLoss
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DefinedBenefitPlanActuarialGainLoss
1128000 usd
CY2021 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
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DefinedBenefitPlanNetPeriodicBenefitCost
4423000 usd
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DefinedBenefitPlanNetPeriodicBenefitCost
4958000 usd
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0.0500 pure
CY2022Q4 us-gaap Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate
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CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
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DefinedBenefitPlanEffectOfOnePercentagePointDecreaseOnServiceAndInterestCostComponents1
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DefinedBenefitPlanEffectOfOnePercentagePointIncreaseOnServiceAndInterestCostComponents
1797000 usd
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DefinedBenefitPlanAccumulatedBenefitObligation
19200000 usd
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
15800000 usd
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DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
6538000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
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CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
5589000 usd
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DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
5511000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
5340000 usd
CY2023Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
24630000 usd
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3300000 usd
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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3800000 usd
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
37711000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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29846000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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DeferredTaxAssetsPropertyPlantAndEquipment
7030000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
4644000 usd
CY2023Q4 NESR Temporary Differences Due To Restatement Of Deferred Tax Assets
TemporaryDifferencesDueToRestatementOfDeferredTaxAssets
26332000 usd
CY2022Q4 NESR Temporary Differences Due To Restatement Of Deferred Tax Assets
TemporaryDifferencesDueToRestatementOfDeferredTaxAssets
26514000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
33362000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
31158000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10311000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10042000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
23051000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
21116000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
5558000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4335000 usd
CY2023Q4 NESR Temporary Differences Due To Restatement Of Deferred Tax Liablilities
TemporaryDifferencesDueToRestatementOfDeferredTaxLiablilities
-12292000 usd
CY2022Q4 NESR Temporary Differences Due To Restatement Of Deferred Tax Liablilities
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CY2023Q4 us-gaap Deferred Tax Liabilities
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17850000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
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19743000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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5201000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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1373000 usd
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280100000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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10300000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023 NESR Utilization Of Valuation Allowance
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CY2022Q4 NESR Unrecognized Tax Benefits Disallowances
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CY2021 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
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CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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3178000 usd
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1391000 usd
CY2023 NESR Unrecognized Tax Benefit
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CY2022 NESR Unrecognized Tax Benefit
UnrecognizedTaxBenefit
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CY2021 NESR Unrecognized Tax Benefit
UnrecognizedTaxBenefit
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CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
51002000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
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CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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311000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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5485000 usd
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
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CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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1049000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
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CY2022Q4 us-gaap Unrecognized Tax Benefits
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61115000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
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51002000 usd
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CapitalExpendituresIncurredButNotYetPaid
38400000 usd
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26400000 usd
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132400000 usd
CY2023Q4 NESR Cash Margin Guarantees
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CY2022Q4 NESR Cash Margin Guarantees
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CY2023Q4 us-gaap Common Stock Shares Outstanding
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CY2022Q4 us-gaap Common Stock Shares Outstanding
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023 NESR Weighted Average Ordinary Shares Outstanding Beginning
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94012752 shares
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CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance
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468 shares
CY2023 NESR Change In Shares Restricted Stock Issuance One
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22440 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance One
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceOne
20411 shares
CY2023 NESR Change In Shares Restricted Stock Issuance Two
ChangeInSharesRestrictedStockIssuanceTwo
250 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Two
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceTwo
212 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Three
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333 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Three
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceThree
278 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Four
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247286 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Four
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceFour
196474 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Five
ChangeInSharesRestrictedStockVestIssuanceFive
578436 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Five
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceFive
457995 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Six
ChangeInSharesRestrictedStockVestIssuanceSix
666 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Six
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceSix
480 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Seven
ChangeInSharesRestrictedStockVestIssuanceSeven
40000 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Seven
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceSeven
23342 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Eight
ChangeInSharesRestrictedStockVestIssuanceEight
1484 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Eight
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceEight
781 shares
CY2023 NESR Change In Shares Restricted Stock Vest Issuance Nine
ChangeInSharesRestrictedStockVestIssuanceNine
92250 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Nine
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceNine
35131 shares
CY2023 NESR Weighted Average Ordinary Shares Outstanding Ending
WeightedAverageOrdinarySharesOutstandingEnding
94748324 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Beginning
WeightedAverageOrdinarySharesOutstandingBeginning
91366235 shares
CY2022 NESR Change In Shares Restricted Stock Issuance
ChangeInSharesRestrictedStockIssuance
32868 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuance
28005 shares
CY2022 NESR Change In Shares Restricted Stock Issuance One
ChangeInSharesRestrictedStockIssuanceOne
279493 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance One
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceOne
222063 shares
CY2022 NESR Change In Shares Restricted Stock Issuance Two
ChangeInSharesRestrictedStockIssuanceTwo
74000 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Two
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceTwo
58592 shares
CY2022 NESR Change In Shares Restricted Stock Issuance Three
ChangeInSharesRestrictedStockIssuanceThree
242727 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Three
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceThree
191522 shares
CY2022 NESR Change In Shares Restricted Stock Issuance Four
ChangeInSharesRestrictedStockIssuanceFour
316775 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Four
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceFour
249081 shares
CY2022 NESR Change In Shares Ordinary Share Consideration
ChangeInSharesOrdinaryShareConsideration
1650000 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Ordinary Share Consideration
WeightedAverageOrdinarySharesOutstandingOrdinaryShareConsideration
827260 shares
CY2022 NESR Change In Shares Restricted Stock Issuance Five
ChangeInSharesRestrictedStockIssuanceFive
50654 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Five
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceFive
19290 shares
CY2022 NESR Weighted Average Ordinary Shares Outstanding Ending
WeightedAverageOrdinarySharesOutstandingEnding
92962048 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Beginning
WeightedAverageOrdinarySharesOutstandingBeginning
87777553 shares
CY2021 NESR Change In Shares Ordinary Share Consideration
ChangeInSharesOrdinaryShareConsideration
2237000 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Ordinary Share Consideration
WeightedAverageOrdinarySharesOutstandingOrdinaryShareConsideration
2237000 shares
CY2021 NESR Change In Shares Additional Earn Out Shares
ChangeInSharesAdditionalEarnOutShares
145039 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Additional Earnout Shares
WeightedAverageOrdinarySharesOutstandingAdditionalEarnoutShares
145039 shares
CY2021 NESR Change In Shares Restricted Stock Issuance
ChangeInSharesRestrictedStockIssuance
87905 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuance
74900 shares
CY2021 NESR Change In Shares Restricted Stock Issuance One
ChangeInSharesRestrictedStockIssuanceOne
316781 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance One
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceOne
251689 shares
CY2021 NESR Change In Shares Restricted Stock Issuance Two
ChangeInSharesRestrictedStockIssuanceTwo
288329 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Two
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceTwo
227503 shares
CY2021 NESR Change In Shares Contingently Issuable Shares Contingency Resolved
ChangeInSharesContingentlyIssuableSharesContingencyResolved
150434 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Contingently Issuable Shares
WeightedAverageOrdinarySharesOutstandingContingentlyIssuableShares
150434 shares
CY2021 NESR Change In Shares Contingently Issuable Shares Contingency Resolved One
ChangeInSharesContingentlyIssuableSharesContingencyResolvedOne
113215 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Contingently Issuable Shares One
WeightedAverageOrdinarySharesOutstandingContingentlyIssuableSharesOne
85299 shares
CY2021 NESR Change In Shares Contingently Issuable Share Contingency Resolved
ChangeInSharesContingentlyIssuableShareContingencyResolved
2962 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Contingently Issuable Share
WeightedAverageOrdinarySharesOutstandingContingentlyIssuableShare
1672 shares
CY2021 NESR Change In Shares Restricted Stock Issuance Three
ChangeInSharesRestrictedStockIssuanceThree
242017 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Three
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceThree
92166 shares
CY2021 NESR Change In Shares Restricted Stock Issuance Four
ChangeInSharesRestrictedStockIssuanceFour
5000 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Restricted Stock Issuance Four
WeightedAverageOrdinarySharesOutstandingRestrictedStockIssuanceFour
575 shares
CY2021 NESR Weighted Average Ordinary Shares Outstanding Ending
WeightedAverageOrdinarySharesOutstandingEnding
91043830 shares
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12580 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
94748324 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-36420 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92962048 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.39
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-64568 usd
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91043830 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.71
CY2023 NESR Net Income Loss Available To Common Stockholders Antidilution Sequencing
NetIncomeLossAvailableToCommonStockholdersAntidilutionSequencing
12580 usd
CY2023 NESR Weighted Average Number Of Shares Outstanding Antidilution Sequencing
WeightedAverageNumberOfSharesOutstandingAntidilutionSequencing
94748324 shares
CY2023 NESR Earnings Per Share Antidilution Sequencing
EarningsPerShareAntidilutionSequencing
0.13
CY2022 NESR Net Income Loss Available To Common Stockholders Antidilution Sequencing
NetIncomeLossAvailableToCommonStockholdersAntidilutionSequencing
-36420 usd
CY2022 NESR Weighted Average Number Of Shares Outstanding Antidilution Sequencing
WeightedAverageNumberOfSharesOutstandingAntidilutionSequencing
92962048 shares
CY2022 NESR Earnings Per Share Antidilution Sequencing
EarningsPerShareAntidilutionSequencing
-0.39
CY2021 NESR Net Income Loss Available To Common Stockholders Antidilution Sequencing
NetIncomeLossAvailableToCommonStockholdersAntidilutionSequencing
-64568 usd
CY2021 NESR Weighted Average Number Of Shares Outstanding Antidilution Sequencing
WeightedAverageNumberOfSharesOutstandingAntidilutionSequencing
91043830 shares
CY2021 NESR Earnings Per Share Antidilution Sequencing
EarningsPerShareAntidilutionSequencing
-0.71
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
12580 usd
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
94748324 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-36420 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92962048 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-64568 usd
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91043830 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.71
CY2022 NESR Initial Accounting For Buyer Stock Adjustment Amount Derivative Liability
InitialAccountingForBuyerStockAdjustmentAmountDerivativeLiability
-4236 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
4236 usd
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segments
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1145915000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909517000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
876729000 usd
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
442666000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
461061000 usd
CY2023 us-gaap Operating Income Loss
OperatingIncomeLoss
80703000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-917000 usd
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-43332000 usd
CY2023 us-gaap Interest Expense
InterestExpense
45826000 usd
CY2022 us-gaap Interest Expense
InterestExpense
34126000 usd
CY2021 us-gaap Interest Expense
InterestExpense
15174000 usd
CY2023 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-5031000 usd
CY2022 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
5242000 usd
CY2021 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-2073000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
29846000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-29801000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-60579000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1145915000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909517000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
876729000 usd
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
442666000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
461061000 usd

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