National Energy Services Reunited (NESR) 6-K 6 Aug 20 2020 Q2 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2020
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Entity File Number	001-38091
Entity Registrant Name	NATIONAL ENERGY SERVICES REUNITED CORP.
Entity Central Index Key	0001698514
Entity Address, Address Line One	777 Post Oak Blvd.
Entity Address, Address Line Two	Suite 730
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 79,317	$ 73,201
Accounts receivable, net	113,454	98,799
Unbilled revenue	126,840	76,347
Service inventories, net	91,764	78,841
Prepaid assets	9,412	9,590
Retention withholdings	49,671	40,970
Other receivables	14,923	14,019
Other current assets	5,158	11,442
Total current assets	490,539	403,209
Non-current assets
Property, plant and equipment, net	458,161	419,307
Intangible assets, net	119,206	122,714
Goodwill	595,706	574,764
Other assets	1,278	2,370
Total assets	1,664,890	1,522,364
Liabilities
Accounts payable	123,213	65,704
Accrued expenses	49,393	69,137
Current installments of long-term debt	46,372	15,000
Short-term borrowings	39,781	37,963
Income taxes payable	9,138	7,542
Other taxes payable	9,067	7,189
Other current liabilities	53,272	25,601
Total current liabilities	330,236	228,136
Long-term debt	335,457	330,564
Deferred tax liabilities	24,090	26,217
Employee benefit liabilities	18,900	16,745
Other liabilities	43,976	34,230
Total liabilities	752,659	635,892
Commitments and contingencies (Note 14)
Equity
Preferred shares, no par value; unlimited shares authorized; none issued and outstanding at June 30, 2020 and December 31, 2019, respectively
Common stock, no par value; unlimited shares authorized; 87,495,221 and 87,187,289 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	801,545	801,545
Additional paid in capital	20,999	17,237
Retained earnings	89,564	67,661
Accumulated other comprehensive income	64	29
Total shareholders’ equity	912,172	886,472
Non-controlling interests	59
Total equity	912,231	886,472
Total liabilities and equity	$ 1,664,890	$ 1,522,364

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, no par value	$ 0	$ 0
Preferred stock, authorized unlimited	Unlimited	Unlimited
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, no par value	$ 0	$ 0
Common stock, authorized unlimited	Unlimited	Unlimited
Common stock, shares issued	87,495,221	87,187,289
Common stock, shares outstanding	87,495,221	87,187,289

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 203,249	$ 159,899	$ 402,548	$ 311,603
Cost of services	(164,343)	(116,893)	(322,613)	(231,390)
Gross profit	38,906	43,006	79,935	80,213
Selling, general and administrative expenses	(17,114)	(17,062)	(35,741)	(30,107)
Amortization	(3,934)	(3,949)	(7,821)	(8,003)
Operating income	17,858	21,995	36,373	42,103
Interest expense, net	(4,165)	(5,750)	(8,675)	(9,680)
Other income / (expense), net	(309)	(438)	(420)	(499)
Income before income tax	13,384	15,807	27,278	31,924
Income tax expense	(2,848)	(4,451)	(5,375)	(7,394)
Net income / (loss)	10,536	11,356	21,903	24,530
Net income / (loss) attributable to non-controlling interests
Net income attributable to shareholders	$ 10,536	$ 11,356	$ 21,903	$ 24,530
Weighted average shares outstanding:
Basic	88,232,694	86,896,779	87,731,986	86,895,285
Diluted	88,232,694	86,896,779	87,731,986	86,895,285
Net earnings per share (Note 16):
Basic	$ 0.12	$ 0.13	$ 0.25	$ 0.28
Diluted	$ 0.12	$ 0.13	$ 0.25	$ 0.28

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net income	$ 10,536	$ 11,356	$ 21,903	$ 24,530
Other comprehensive income, net of tax
Foreign currency translation adjustments	6	(19)	35	(19)
Total Comprehensive Income, net of tax	10,542	11,337	21,938	24,511
Comprehensive income attributable to non-controlling interest
Comprehensive income attributable to shareholders	$ 10,542	$ 11,337	$ 21,938	$ 24,511

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Common Stock [Member]Successors [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Successors [Member]	AOCI Attributable to Parent [Member]	AOCI Attributable to Parent [Member]Successors [Member]	Retained Earnings [Member]	Retained Earnings [Member]Successors [Member]	Total Company Stockholders Equity [Member]	Total Company Stockholders Equity [Member]Successors [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member]Successors [Member]	Total	Successors [Member]
Beginning balance, value at Dec. 31, 2018		$ 801,545		$ 1,034		$ 48		$ 28,297		$ 830,924		$ 67		$ 830,991
Balance at beginning, shares at Dec. 31, 2018		85,562,769
Share-based compensation expense				2,113						2,113				2,113
Other				4		(19)				(15)				(15)
Other, shares		33,796											33,796
Acquisition of non-controlling interest during the period				67						67		(67)
NPS equity earn-out				10,480						10,480				10,480
NPS equity earn-out, shares		1,300,214
Net income								24,530		24,530			$ 24,530	24,530
Ending balance, value at Jun. 30, 2019		$ 801,545		13,698		29		52,827		868,099				868,099
Balance at end, shares at Jun. 30, 2019		86,896,779
Beginning balance, value at Mar. 31, 2019		$ 801,545		12,322		48		41,472		855,387				855,387
Balance at beginning, shares at Mar. 31, 2019		86,896,779
Share-based compensation expense				1,373						1,373				1,373
Other				3		(19)		(1)		(17)				(17)
Other, shares
Net income								11,356		11,356			11,356	11,356
Ending balance, value at Jun. 30, 2019		$ 801,545		$ 13,698		$ 29		$ 52,827		$ 868,099				$ 868,099
Balance at end, shares at Jun. 30, 2019		86,896,779
Beginning balance, value at Dec. 31, 2019	$ 801,545		$ 17,237		$ 29		$ 67,661		$ 886,472				886,472
Balance at beginning, shares at Dec. 31, 2019	87,187,289
Share-based compensation expense			3,760						3,760				3,760
Vesting of restricted share units
Vesting of restricted share units, shares	307,932
Other			2		35				37		59		96
Other, shares
Net income							21,903		21,903				21,903
Ending balance, value at Jun. 30, 2020	$ 801,545		20,999		64		89,564		912,172		59		912,231
Balance at end, shares at Jun. 30, 2020	87,495,221
Beginning balance, value at Mar. 31, 2020	$ 801,545		18,872		58		79,028		899,503				899,503
Balance at beginning, shares at Mar. 31, 2020	87,495,221
Share-based compensation expense			2,125						2,125				2,125
Vesting of restricted share units
Vesting of restricted share units, shares
Other			2		6				8		59		67
Other, shares
NPS equity earn-out, shares
Net income							10,536		10,536				10,536
Ending balance, value at Jun. 30, 2020	$ 801,545		$ 20,999		$ 64		$ 89,564		$ 912,172		$ 59		$ 912,231
Balance at end, shares at Jun. 30, 2020	87,495,221

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 21,903	$ 24,530
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	59,585	38,476
Share-based compensation expense	3,760	2,113
Loss (Gain) on disposal of assets	240	(356)
Non-cash interest expense	(125)	2,484
Deferred tax expense (benefit)	(2,126)	(1,077)
Allowance for (reversal of) doubtful receivables	(26)	476
Provision for obsolete service inventories	614	1,057
Other operating activities, net	219	(1,848)
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable	1,887	(41,440)
(Increase) in inventories	(7,883)	(7,964)
Decrease (increase) in prepaid assets	857	(2,289)
(Increase) in other current assets	(46,533)	(8,651)
(Increase) decrease in other long-term assets and liabilities	(2,140)	702
Increase in accounts payable and accrued expenses	23,185	20,009
(Decrease) in other current liabilities	(818)	(2,050)
Net cash provided by operating activities	52,599	24,172
Cash flows from investing activities:
Capital expenditures	(50,661)	(56,513)
Proceeds from disposal of assets	1,277	1,273
Acquisition of business, net of cash acquired (Note 5)	3,740
Other investing activities	(570)	(285)
Net cash used in investing activities	(46,214)	(55,525)
Cash flows from financing activities:
Proceeds from long-term debt	15,000	365,000
Repayments of long-term debt		(278,039)
Proceeds from short-term borrowings	3,999
Repayments of short-term borrowings	(7,131)	(7,013)
Payments on capital leases	(11,180)
Payments on seller-provided financing for capital expenditures	(992)
Other financing activities, net		(3,825)
Net cash (used in) provided by financing activities	(304)	76,123
Effect of exchange rate changes on cash	35	(19)
Net increase in cash	6,116	44,751
Cash and cash equivalents, beginning of period	73,201	24,892
Cash and cash equivalents, end of period	79,317	69,643
Supplemental disclosure of cash flow information (also refer Note 3):
Interest paid	7,467	8,317
Income taxes paid	$ 6,196	$ 13,890

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS 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. 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”). The formation of NESR as an operating entity was completed on June 7, 2018, after the transactions were approved by the U.S. Securities and Exchange Commission (“SEC”) and NESR shareholders. On June 1, 2020, NESR further expanded its footprint within the MENA region by acquiring Sahara Petroleum Services Company S.A.E. (“SAPESCO”). NESR’s revenues are primarily derived by providing production services (“Production Services”) such as hydraulic fracturing, cementing, coiled tubing, filtration, completions, stimulation, pumping and nitrogen services. NESR also provides drilling and evaluation services (“Drilling and Evaluation Services”) such as drilling downhole tools, directional drilling, fishing tools, testing services, wireline, slickline, fluids and rig services. NESR has significant operations throughout the MENA region including Saudi Arabia, Oman, Qatar, Iraq, Algeria, United Arab Emirates and Kuwait.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying condensed consolidated interim financial statements of the Company have been prepared in accordance with U.S. GAAP for interim financial reporting purposes. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated interim financial statements should be read in conjunction with the Company’s Annual Report on Form 20-F for the year ended December 31, 2019. Emerging growth company The Company is an “emerging growth company,” as defined in Section 2(a) of the U.S. Securities Act of 1933 as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies, but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make a comparison of the Company’s condensed consolidated interim financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of estimates The preparation of condensed consolidated interim 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 condensed consolidated interim financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s significant estimates include estimates made towards the purchase price allocation for the acquisition of SAPESCO, the allowance for doubtful accounts, evaluation for impairment of property, plant and equipment, evaluation for impairment of goodwill and intangible assets, estimated useful life of property, plant, and equipment and intangible assets, provision for inventories obsolescence, recoverability of unbilled revenue, provision for unrecognized tax benefits, recoverability of deferred taxes and contingencies and actuarial assumptions in employee benefit plans. 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 condensed consolidated interim 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Supplemental cash flow information Non-cash transactions for the year-to-date period ended June 30, 2020 were as follows: ● Purchases of property, plant, and equipment in Accounts payable, Accrued expenses and Short-term borrowings at June 30, 2020 of $ 15.2 0.9 28.6 ● Capital lease obligations of $ 27.0 9.0 ● Purchases of property, plant, and equipment using seller-provided installment financing of $ 3.5 1.5 1.5 ● Obligations of $ 40.6 million classified, related to the future payments of cash and shares for the purchase of SAPESCO (Note 5), are not included under “Acquisition of business, net of cash acquired” within the Condensed Consolidated Statement of Cash Flows. Non-cash transactions for the year-to-date period ended June 30, 2019 were as follows: ● Purchases of property, plant, and equipment in accounts payable and short-term debt at June 30, 2019 of $ 28.8 5.1 Recently issued accounting standards not yet adopted The SEC permits qualifying Emerging Growth Companies (“EGC”) to defer the adoption of accounting standards updates until the time when a private company would adopt such standards. The Company continues to qualify as an EGC as of June 30, 2020. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases,” a new standard on accounting for leases. This update increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In June 2020, the FASB Issued ASU No. 2020-05, “Accounting Standards Update 2020-05—Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities.” ASU No. 2020-05 deferred the Company’s adoption of ASU 2016-02, as amended, to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is currently evaluating the provisions of ASU 2016-02 and related interpretive amendments (ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” and ASU 2019-01, “Leases (Topic 842): Codification Improvements,” inclusive) and assessing the impact, if any, on its condensed consolidated interim financial statements and related disclosures. All other new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Disaggregation of revenue There is significant homogeneity amongst the Company’s revenue-generating activities. In all service lines, the Company provides a “suite of services” to fulfill a customer purchase/service order, encompassing personnel, use of Company equipment, and supplies required to perform the services. Over 98% percent of the Company’s revenue is from the MENA region with the majority sourced from governmental customers, predominantly in Oman and Saudi Arabia. Information regularly reviewed by the chief operating decision maker (“CODM”) for evaluating the financial performance of operating segments is focused on the timing of when the services are performed during a well’s lifecycle. Production Services are services performed during the production stage of a well’s lifecycle. Drilling and Evaluation Services are services performed during the pre-production stages of a well’s lifecycle. Based on these considerations, the following table provides disaggregated revenue data by the phase in a well’s lifecycle during which revenue has been recorded (in US$ thousands): SCHEDULE OF DISAGGREGATION OF REVENUE BY GEOGRAPHY Quarter ended Year-to-date period ended Revenue by Phase in Well’s Lifecycle: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Production Services $ 139,034 $ 95,358 $ 272,224 $ 187,471 Drilling and Evaluation Services 64,215 64,541 130,324 124,132 Total revenue by phase in well’s life cycle $ 203,249 $ 159,899 $ 402,548 $ 311,603

BUSINESS COMBINATION

BUSINESS COMBINATION	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATION	BUSINESS COMBINATION In June of 2020, NESR executed the Deed of Amendment (“Deed of Amendment”) to the Agreement dated February 13, 2020 related to the sale and purchase of 99.7 Description of the SAPESCO Transaction Under the terms of the Sale & Purchase Agreement, NESR acquired 99.7 % of the issued and outstanding shares of SAPESCO in a cash and stock transaction which comprised of $ 11.0 million to be paid at closing, an additional $ 6.0 million to be paid in three equal installments by September 1, 2020, for a total cash consideration of $ 17.0 million, and the issuance of 2,237,000 NESR shares based on a $ 10.00 per share conversion rate. The Sale & Purchase Agreement contains earn-out mechanisms that enable the sellers to receive additional consideration after the closing of the Business Combination as follows: ● Cash Earn-Out ( “Cash Earn-Out”) of up to $ 6.9 ● Additional Earn-Out Shares ( “Additional Earn-Out Shares”) based on the collection of certain receivables and only to the extent that NESR’s average share price during the fourth quarter of 2020 is less than $ 9 ● Customer Receivables Earn-Out Shares ( “Customer Receivables Earn-Out Shares”) based on the collection of certain long-dated and/or doubtful receivables for two years subsequent to the Closing Date, to be settled at the NESR Additional Share Price (“NESR Additional Share Price”) which is derived from taking the average of the price of the Company’s shares (“NESR Shares”) during each calendar quarter within the 12 months after the Closing Date and applying the average price in each quarter to the long-dated and doubtful receivables collected during the relevant quarter, provided that if such price is: (a) less than $ 10 10 11.70 11.70 Collectively, the Cash Earn-Out and Additional Earn-Out Shares were fair valued at $ 11.7 0 Financing of Business Combination Consideration for the Business Combination was funded through the following sources and transactions: ● cash and cash equivalents of $11 million, reflected in Other current liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2020; ● deferred consideration of $ 6 million ($ 5.958 million at present value on June 1, 2020), reflected in Other current liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2020; ● the issuance of 2,237,000 NESR ordinary shares to the SAPESCO selling stockholders in exchange for their SAPESCO shares also reflected in Other liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2020. The following summarizes the preliminary consideration to purchase 99.7 % of the issued and outstanding equity interests of SAPESCO: SCHEDULE OF CONSIDERATION TO PURCHASE ISSUED AND OUTSTANDING EQUITY INTEREST SAPESCO [Member] SAPESCO Value (In US$ thousands) Shares Cash consideration $ 16,958 Total consideration – cash 16,958 NESR ordinary share consideration 12,013 2,237,000 Total consideration – equity (1) 12,013 2,237,000 Estimated earn-out mechanisms 11,678 - (2) Preliminary consideration $ 40,649 2,237,000 (1) The fair value of NESR ordinary shares was determined based upon the $ 5.37 (2) The quantity of Additional Earn-Out Shares will not be known until the fourth quarter of 2020 when this contingency is resolved. A liability totalling $ 6.4 Accounting treatment The Business Combination is accounted for under ASC 805, Business Combinations (“ASC 805”). Pursuant to ASC 805, NESR has been determined to be the accounting acquirer. SAPESCO constitutes a business, with inputs, processes, and outputs. Accordingly, the acquisition of SAPESCO constitutes the acquisition of a business for purposes of ASC 805, and due to the change in control of SAPESCO was accounted for using the acquisition method. NESR recorded the fair value of assets acquired and liabilities assumed from SAPESCO. The allocation of the consideration to the tangible and intangible assets acquired and liabilities assumed, is based on various estimates. As of June 30, 2020, management was (1) finalizing fair value of purchase consideration, (2) completing physical verifications and obsolescence assessments for Service inventories, and Property, plant and equipment, (3) evaluating the fair value of Service inventories, Property, plant and equipment, and Intangible assets, (4) completing valuation procedures for certain current assets and liabilities, (5) accounting for income taxes, and (6) concluding valuation procedures for Employee benefit liabilities and equipment capital leases recorded in Other liabilities. As such, to the extent of these estimates, the purchase price allocation is preliminary. Management expects that these values will be finalized by the fourth quarter of 2020. Any adjustments will be recognized in the reporting period in which the adjustment amounts are determined. The following table summarizes the preliminary allocation of the purchase price allocation (in US% thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION Allocation of consideration Cash and cash equivalents $ 3,740 Accounts receivable, net 16,516 Unbilled revenue 5,976 Service inventories 5,654 Prepaid assets 679 Retention withholdings 279 Other current assets 551 Property, plant and equipment 34,161 Intangible assets 4,220 Other assets 200 Total identifiable assets acquired 71,976 Accounts payable 11,974 Accrued expenses 6,455 Current installments of long-term debt 5,400 Short-term borrowings 5,692 Income taxes payable 313 Other taxes payable 2,514 Other current liabilities 1,679 Long-term debt 15,582 Employee benefit liabilities 868 Other liabilities 1,733 Noncontrolling interests 59 Net identifiable liabilities acquired 52,269 Total fair value of net assets acquired 19,707 Goodwill 20,942 Preliminary consideration $ 40,649 Intangible assets Intangible assets were identified that met either the separability criterion or the contractual-legal criterion described in ASC 805. The preliminary allocation to intangible assets is as follows (in US$ thousands): SCHEDULE OF PRELIMINARY ALLOCATION TO INTANGIBLE ASSETS Fair Value Total Useful Life (In US$ thousands) Customer contracts $ 3,770 8 years Trademarks and trade names 450 2 years Total intangible assets $ 4,220 Goodwill As of June 30, 2020, $ 20.9 million has been allocated to goodwill. Goodwill represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable definite-lived intangible assets acquired. The goodwill is not amortizable for tax purposes. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market positions and the assembled workforces. In accordance with FASB ASC Topic 350, Goodwill and Other Intangible Assets Transaction costs The Company incurred $ 0.9 Unaudited pro-forma information The following table summarizes the supplemental consolidated results of the Company on an unaudited pro forma basis, as if the Business Combination had been consummated on January 1, 2019 for the quarter and year-to-date periods ended June 30, 2020 and June 30, 2019, respectively (in US$ thousands): SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues $ 209,563 $ 179,557 $ 421,287 $ 347,941 Net income/(loss) 7,034 17,695 19,184 35,086 These pro forma results were based on estimates and assumptions, which the Company believes are reasonable. They are not the results that would have been realized had the Company been a combined company during the periods presented and are not necessarily indicative of consolidated results of operations in future periods. SAPESCO’s results for the periods presented include significant charges for restructuring and related activities that may not have been incurred had the Company been a combined company during the periods presented. The pro-forma results include adjustments primarily related to purchase accounting adjustments. Acquisition costs and other non-recurring charges incurred in connection with the Business Combination are included in the earliest period presented. SAPESCO revenue of $ 3.9 0.1

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE The following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands): SCHEDULE OF ACCOUNTS RECEIVABLE June 30, 2020 December 31, 2019 Trade receivables $ 115,819 $ 100,642 Less: allowance for doubtful accounts (2,365 ) (1,843 ) Total $ 113,454 $ 98,799 Trade receivables relate to the sale of services, for which credit is extended based on our evaluation of the customer’s creditworthiness. The gross contractual amounts of trade receivables at June 30, 2020 and December 31, 2019 were $ 115.8 100.6 SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Allowance for doubtful accounts at beginning of period $ (2,442 ) $ (760 ) $ (1,843 ) $ (693 ) (Increase) decrease to allowance for the year (25 ) (339 ) 26 (476 ) (Recovery) write-off of doubtful accounts 161 649 161 719 Non-cash reclass of allowance for doubtful accounts between unbilled revenue and accounts receivable (59 ) - (708 ) - Allowance for doubtful accounts at end of period $ (2,365 ) $ (450 ) $ (2,365 ) $ (450 )

SERVICE INVENTORIES

SERVICE INVENTORIES	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
SERVICE INVENTORIES	SERVICE INVENTORIES The following table summarizes the service inventories for the periods as set forth below (in US$ thousands): SCHEDULE OF SERVICE INVENTORIES June 30, December 31, 2020 2019 Spare parts $ 54,739 $ 39,428 Chemicals 24,589 22,852 Raw materials 911 2,441 Consumables 13,916 15,897 Total 94,155 80,618 Less: allowance for obsolete and slow-moving inventories (2,391 ) (1,777 ) Total $ 91,764 $ 78,841

PROPERTY, PLANT, & EQUIPMENT

PROPERTY, PLANT, & EQUIPMENT	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT, & EQUIPMENT	PROPERTY, PLANT, & EQUIPMENT Property, plant and equipment, net of accumulated depreciation, of the Company consists of the following as of the period end dates set forth below (in US$ thousands): SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Estimated Useful Lives (in years) June 30, 2020 December 31, 2019 Buildings and leasehold improvements 5 25 $ 38,701 $ 36,853 Oilfield equipment 3 15 505,504 411,984 Furniture and fixtures 5 1,503 3,720 Office equipment and tools 3 6 39,589 35,991 Vehicles and cranes 5 8 8,262 12,292 Less: Accumulated depreciation (151,440 ) (104,689 ) Land 5,104 5,104 Capital work in progress 10,938 18,052 Total $ 458,161 $ 419,307 The Company recorded depreciation expense of $ 26.4 16.0 51.8 30.5

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill Changes in the carrying amount of goodwill of the Company between December 31, 2019, and June 30, 2020 are as follows (in US$ thousands): SCHEDULE OF CHANGES IN CARRYING AMOUNT OF GOODWILL Production Services Drilling and Evaluation Services Goodwill Balance as of December 31, 2019 $ 419,646 $ 155,118 $ 574,764 SAPESCO Business Combination 8,263 12,679 20,942 Balance as of June 30, 2020 $ 427,909 $ 167,797 $ 595,706 Intangible assets subject to amortization, net The following is the weighted average amortization period for intangible assets of the Company subject to amortization (in years): SCHEDULE OF INTANGIBLE ASSETS SUBJECT TO AMORTIZATION Amortization Customer contracts 9.9 Trademarks and trade names 7.9 Total intangible assets 9.6 The details of our intangible assets subject to amortization are set forth below (in US$ thousands): June 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer contracts $ 125,270 $ (25,355 ) $ 99,916 $ 121,500 $ (19,239 ) $ 102,261 Trademarks and trade names 25,950 (6,660 ) 19,290 25,500 (5,047 ) 20,453 Total intangible assets $ 151,220 $ (32,014 ) $ 119,206 $ 147,000 $ (24,286 ) $ 122,714

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Long-term debt The Company’s long-term debt obligations consist of the following (in US$ thousands): SCHEDULE OF LONG TERM DEBT OBLIGATIONS June 30, 2020 December 31, 2019 Secured Term Loan $ 300,000 $ 300,000 Secured Revolving Credit Facility 65,000 50,000 CIB Long-Term Debt 20,972 - Less: unamortized debt issuance costs (4,143 ) (4,436 ) Total loans and borrowings 381,829 345,564 Less: current portion of long-term debt (46,372 ) (15,000 ) Long-term debt, net of unamortized debt issuance costs and excluding current installments $ 335,457 $ 330,564 Secured Facilities Agreement On May 5, 2019, the Company entered into a $ 450.0 million term loan, revolving credit, and working capital facilities agreement (the “Secured Facilities Agreement”) with Arab Petroleum Investments Corporation (“APICORP”) – Bahrain Banking Branch, HSBC Bank Middle East Limited (“HSBC”), Mashreqbank PSC and Saudi British Bank acting as initial mandated lead arrangers and bookrunners, Mashreqbank PSC acting as global agent, APICORP and Mashreqbank PSC acting as security agents, NPS Bahrain for Oil & Gas Wells Services WLL (“NPS Bahrain”) and its Kuwait branch, Gulf Energy SAOC and National Petroleum Technology Company as borrowers, and HSBC, Mashreqbank PSC, APICORP and Saudi British Bank, as the “Lenders.” On May 23, 2019 and June 20, 2019, the Company entered into $ 35.0 million and $ 40.0 million Incremental Facilities Agreements, respectively, increasing the size of the Secured Facilities Agreement to $ 485.0 million and $ 525.0 million, respectively. During the quarter ended June 30, 2020, the Secured Facilities Agreement was reduced to $ 520.6 million primarily as a result of the non-renewal of a project-specific letter of credit. The $ 520.6 million Secured Facilities Agreement consists of a $ 300.0 million term loan due 2025 (the “Term Loan” or “Secured Term Loan”), a $ 65.0 million revolving credit facility due 2023 (“RCF” or “Secured Revolving Credit Facility”), and a $ 155.6 million working capital facility. Borrowings under the Term Loan and RCF incur interest at the rate of three-month LIBOR plus 2.4 % to 2.7 % per annum, varying based on the Company’s Net Debt / EBITDA ratio as defined in the Secured Facilities Agreement. As of June 30, 2020, and December 31, 2019, this resulted in an interest rate of 2.9 % and 4.3 %, respectively. As of June 30, 2020, and December 31, 2019, the Company had drawn $ 300.0 million and $ 300.0 million, respectively, of the Term Loan and $ 65 million and $ 50.0 million, respectively, of the RCF. The RCF was obtained for general corporate and working capital purposes including capital expenditure related requirements and acquisitions (including transaction related expenses). The RCF requires the payment of a commitment fee each quarter. The commitment fee is computed at the rate of 0.60 May 6, 2023 The Company is permitted to make any prepayment under this RCF in multiples of $ 5.0 0 15.0 The Secured Facilities Agreement also includes a working capital facility of $155.6 million for issuance of letters of guarantee and letters of credit and refinancing letters of credit over a period of one year, which carries an interest rate equal to three-month U.S. Dollar LIBOR for the applicable interest period, plus a margin of 1.00% to 1.25% per annum. 127.4 134.2 28.2 25.8 The Company has also retained legacy bilateral working capital facilities from HSBC totaling $ 24.4 30.4 10.4 16.4 13.9 0.1 19.4 24.1 5.0 6.3 Utilization of the working capital facilities under both the legacy arrangement and Secured Facilities Agreement comprises letters of credit issued to vendors, guarantees issued to customers, vendors, and others, and short-term borrowings used to settle letters of credit. Once a letter of credit is presented for payment by the vendor, the Company at its election can settle the letter of credit from available cash or leverage short-term borrowings that will be repaid quarterly over a one-year period. Until a letter of credit is presented for payment by the vendor, it is disclosed as an off-balance sheet obligation. For additional discussion of outstanding letters of credit and guarantees, see Note 14, Commitments and Contingencies. The Secured Facilities Agreement includes covenants that specify maximum leverage (Net Debt / EBITDA) up to 3.50, minimum debt service coverage ratio (Cash Flow / Debt Service) of at least 1.25, and interest coverage (EBITDA / Interest) of at least 4.00. The Company was in compliance with all financial covenants as of both June 30, 2020 and December 31, 2019 CIB Long-Term Debt As part of the SAPESCO transaction, the Company assumed a $ 21 million debt obligation with Commercial International Bank (collectively, “CIB Long-Term Debt”). Under the terms of its arrangement with CIB, the Company will repay $ 11 million of this balance during the third quarter of 2020 with the remaining $ 10 million due on July 20, 2021 . Borrowings under the CIB Long-Term Debt incur interest at 2 % per annum over 6 months LIBOR (to be settled on quarterly basis) plus 50 basis points per annum. As of June 30, 2020, this resulted in an interest rate of 4.4 %. The CIB Long-Term Debt (collectively with the CIB Short-Term Debt, discussed below) includes covenants that specify maximum leverage (Total Liabilities / Equity) up to 1.3, minimum debt service coverage ratio ((Cash operating profits after tax + depreciation - annual maintenance for equipment)/(Financial payments + profit sharing for the same period)) of at least 1, and minimum current rate (Current Assets / Current Liabilities) of at least 1.00. The Company was in compliance with all financial covenants as of June 30, 2020. . Short-term debt The Company’s short-term debt obligations consist of the following (in US$ thousands): SCHEDULE OF SHORT TERM DEBT OBLIGATIONS June 30, December 31, CIB Short-Term Debt $ 2,177 $ - ABK Short-Term Debt 2,964 - Other short-term borrowings 34,640 37,963 Short-term debt, excluding current installments of long-term debt $ 39,781 $ 37,963 Short-term borrowings primarily consist of financing for capital equipment and inventory purchases. CIB Short-Term Debt As part of the SAPESCO transaction, the Company assumed a $ 2.6 September 16, 2020 1.5 2 10 13.8 The U.S. Dollar time loan facility accrues interest at 2.25% per annum over 3 months LIBOR plus 50 basis points per annum of the Highest Monthly Debit Balance (“HMDB”) commission. The Egyptian Pound time loan and overdraft facilities accrue interest at 0.75% per annum over Corridor Offer Rate plus 50 basis points per annum, HMDB commission As of June 30, 2020, the CIB Short-Term Debt resulted in an interest rate of 4.6 10.6 1.3 2.0 7.8 8.5 0.2 0 2.2 5.3 ABK Short-Term Debt As part of the SAPESCO transaction, the Company assumed a $ 3.1 September 16, 2020 3.2 0.2 The ABK Short-Term Debt accrues interest at 1.65% per annum over Corridor Offer Rate 10.9 2.9 0.2 0 0 Other debt information Scheduled principal payments of long-term debt for periods subsequent to June 30, 2020 are as follows (in US$ thousands): SCHEDULE PRINCIPAL PAYMENTS OF LONG TERM DEBT 2020 $ 25,972 2021 47,500 2022 45,000 2023 110,000 2024 45,000 2025 112,500 Thereafter - Total $ 385,972 As part of the SAPESCO transaction, the Company also assumed other working capital facilities totaling $ 0.8 0.8 0

FAIR VALUE ACCOUNTING

FAIR VALUE ACCOUNTING	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE ACCOUNTING	FAIR VALUE ACCOUNTING The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, unbilled revenue, accounts payable, capital leases and loans and borrowings. The fair value of the Company’s financial instruments approximates the carrying amounts represented in the accompanying Condensed Consolidated Balance Sheets, primarily due to their short-term nature. The fair value of the Company’s long-term borrowings also approximates the carrying amounts as these loans are carrying interest at the market rate.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS Defined benefit plan The Company provides defined benefit plan of severance pay to eligible employees. The severance pay plan provides for a lump sum payment to employees on separation (retirement, resignation, death while in employment or on termination of employment) of an amount based upon the employees last drawn salary and length of service, subject to the completion of minimum service period (1-2 years) and taking into account the provisions of local applicable law or as per employee contract. The Company records annual amounts relating to these long-term employee benefits based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return, compensation increases and turnover rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in the Condensed Consolidated Interim Statement of Operations. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions. The net periodic costs are recognized as employees render the services necessary to earn these benefits. The Components of net period benefit cost were as follows (in US$ thousands): SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Service cost $ 761 $ 591 $ 1,900 $ 1,440 Interest cost 190 43 475 176 Other - 66 - 55 Net cost $ 951 $ 700 $ 2,375 $ 1,671 The Company made employer contributions (direct payment of benefits) to its defined benefit plan of $ 0.9 0.1 1.2 1.1 Defined contribution plan The Company also provides a defined contribution retirement plan and occupational hazard insurance for Omani employees. Contributions to a defined contribution retirement plan and occupational hazard insurance for Omani employees in accordance with the Omani Social Insurances Law are recognized as an expense in the Condensed Consolidated Interim Statement of Operations as incurred. Total contributions were of $ 0.8 0.8 1.6 1.6

SHARE-BASED COMPENSATION EXPENS

SHARE-BASED COMPENSATION EXPENSE	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION EXPENSE	SHARE-BASED COMPENSATION EXPENSE In 2018, the NESR shareholders approved the 2018 Long Term Incentive Plan (the “LTIP”). A total of 5,000,000 1 3 The purpose of the LTIP is to enhance NESR’s ability to attract, retain and motivate persons who make (or are expected to make) important contributions to NESR by providing these individuals with equity ownership opportunities. The Company intends to use time-based restricted stock unit awards to reward long-term performance of the executive officers. The Company believes that providing a meaningful portion of the total compensation package in the form of share-based awards will align the incentives of its executive officers with the interests of its shareholders and serve to motivate and retain the individual executive officers. The following tables set forth the LTIP activity for the periods indicated (in US$ thousands, except share and per share amounts): SCHEDULE OF UNVESTED RESTRICTED STOCK Quarter ended June 30, 2020 June 30, 2019 Number of Restricted Shares Weighted Average Value per Share Number of Restricted Shares Weighted Average Value per Share Unvested at Beginning of Period 2,244,662 $ 7.72 725,200 $ 11.15 Granted - $ - 970,000 $ 10.36 Vested and issued - $ - - $ - Forfeited - $ - (95,000 ) $ 10.86 Unvested at End of Period 2,244,662 $ 7.72 1,600,200 $ 10.59 Year-to-date period ended June 30, 2020 June 30, 2019 Number of Restricted Shares Weighted Average Number of Restricted Shares Weighted Average Unvested at Beginning of Period 1,502,690 $ 10.25 725,200 $ 11.15 Granted 1,080,905 $ 4.96 970,000 $ 10.36 Vested and issued (307,932 ) $ 10.36 - $ - Forfeited (31,001 ) $ 10.45 (95,000 ) $ 10.86 Unvested at End of Period 2,244,662 $ 7.72 1,600,200 $ 10.59 At June 30, 2020 and December 31, 2019, the Company had unrecognized compensation expense of $ 12.8 11.7 1.9 2.0 SCHEDULE OF STOCK-BASED COMPENSATION Quarter ended Year-to-date period ended June 30, June 30, 2019 June 30, June 30, 2019 Cost of Services $ 938 $ 654 $ 1,665 $ 968 Selling, general and administrative expenses 1,187 719 2,095 1,145 Net cost $ 2,125 $ 1,373 $ 3,760 $ 2,113

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Capital expenditure commitments The Company was committed to incur capital expenditures of $ 22.5 22.1 Capital lease commitments The Company leases certain hydraulic fracturing equipment under capital leases that expire between 2021 and 2023 24 36 4.3 6.5 32.6 33.7 25.3 20.5 7.3 13.1 0.6 0.0 1.0 0.0 The Company also leases certain equipment in Egypt under capital leases that expire between 2020 and 2024 3.3 0 $1.7 0 1.6 0 0.1 0.0 0.1 0.0 Future minimum lease payments and future interest payments under non-cancellable equipment capital leases at June 30, 2020 and December 31, 2019, are payable as follows (in US$ thousands): SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON-CANCELABLE OPERATING LEASES As of June 30, 2020 As of December 31, 2019 Future Minimum Lease Payments Future Interest Payments Total Payments Future Minimum Lease Payments Future Interest Payments Total Payments 2020 $ 15,948 $ 1,414 $ 17,362 $ 22,930 $ 1,070 $ 24,000 2021 14,835 836 15,671 10,743 1,257 12,000 2022 3,214 445 3,659 - - - 2023 1,611 344 1,955 - - - 2024 315 133 448 - - - 2025 - - - - - - Thereafter - - - - - - Total $ 35,923 $ 3,172 $ 39,095 $ 33,673 $ 2,327 $ 36,000 Operating lease commitments Future minimum lease commitments under non-cancellable operating leases with initial or remaining terms of one year or more at June 30, 2020 and December 31, 2019, respectively, are payable as follows (in US$ thousands): June 30, 2020 December 31, 2019 2020 $ 19,092 $ 23,201 2021 18,781 18,560 2022 2,820 2,780 2023 1,338 2,291 2024 1,338 2,292 2025 1,342 2,296 Thereafter 3,281 1,629 Total $ 47,992 $ 53,049 The Company recorded rental expense of $ 34.6 million, $ 30.9 million, $ 68.9 million and $ 56.4 million for the quarter ended June 30, 2020, the quarter ended June 30, 2019, the year-to-date period ended June 30, 2020, and the year-to-date period ended June 30, 2019, respectively, in the Condensed Consolidated Interim Statement of Operations. Other commitments The Company purchases certain property, plant, and equipment using seller-provided installment financing with payment terms extending to 24 months. The amounts due to the vendors at June 30, 2020, and December 31, 2019, were $ 6.4 6.0 1.5 3.5 1.5 0 3.0 3.0 The Company has outstanding letters of credit amounting to $ 16.3 21.2 In the normal course of business with customers, vendors and others, the Company has entered into off-balance sheet arrangements, such as surety bonds for performance, and other bank issued guarantees which totaled $ 105.7 99.1 5.2 5.8 As of June 30, 2020, and June 30, 2019, the Company had liabilities of $ 6.7 6.7 Legal proceedings The Company is involved in certain legal proceedings which arise in the ordinary course of business and the outcomes of which are currently subject to uncertainties and therefore the probability of a loss, if any, being sustained and an estimate of the amount of any loss are difficult to ascertain. Consequently, it is not possible to make a reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of these disputes. The Company is contesting these claims/disputes and the Company’s management currently believes that provision against these potential claims is not required as the ultimate outcome of these disputes would not have a material impact on the Company’s business, financial condition or results of operations.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
EQUITY	15. EQUITY The Company is authorized to issue an unlimited number of ordinary shares, no par value, and preferred shares, no par value. The Company’s ordinary shares are entitled to one vote for each share. As of June 30, 2020, there were 87,495,221 22,921,700 12,618,680 5.75 June 6, 2023 The Company is authorized to issue an unlimited number of preferred shares divided into five classes with designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. As of June 30, 2020, or December 31, 2019, there were no In February 2019, pursuant to the NPS Stock Purchase Agreement, the Company issued 1,300,214 The issuance of 2,237,000 NESR ordinary shares to the SAPESCO selling stockholders in exchange for their SAPESCO shares is reflected in Other liabilities in the Condensed Consolidated Balance Sheet as of June 30, 2020. The shares are expected to be issued in the third quarter of 2020 at which time purchase consideration will be transferred from Other liabilities to Additional paid in capital. As the Company is contractually obligated to settle this purchase consideration in shares, we believe that presentation as a non-current liability best matches the contingency with the long-term nature of equity financing.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	16. EARNINGS PER SHARE Basic earnings per common share was computed using the two-class method by dividing basic net income attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted earnings per common share was computed using the two-class method by dividing diluted net income attributable to common shareholders by the weighted-average number of common shares outstanding plus dilutive common equivalent shares. Dilutive common equivalent shares include all in-the-money outstanding contracts to issue common shares as if they were exercised or converted. The following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the period (in US$ thousands except shares and per share amounts). SCHEDULE OF A RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING Date Transaction Detail Change in Shares Quarter ended June 30, 2020 March 31, 2020 Beginning Balance 87,495,221 June 1, 2020 Shares to be issued in SAPESCO transaction (Note 5) (1) 2,237,000 737,473 June 30, 2020 Ending Balance 88,232,694 (1) Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000 Date Transaction Detail Change in Shares Quarter ended June 30, 2019 Weighted Average Ordinary Shares Outstanding March 31, 2019 Beginning Balance 86,896,779 June 30, 2019 Ending Balance 86,896,779 Date Transaction Detail Change in Shares Year-to-date period ended June 30, 2020 December 31, 2019 Beginning Balance 87,187,289 March 18, 2020 Restricted stock vesting 307,932 175,961 June 1, 2020 Shares to be issued in SAPESCO transaction (Note 5) (1) 2,237,000 368,736 June 30, 2020 Ending Balance 87,731,986 (1) Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000 Date Transaction Detail Change in Shares Year-to-date period ended June 30, 2019 Weighted Average Ordinary Shares Outstanding December 31, 2018 Beginning Balance 85,562,769 January 9, 2019 Other 33,796 32,302 February 19, 2019 NPS equity stock earn-out 1,300,214 1,300,214 June 30, 2019 Ending Balance 86,895,285 Quarter ended Year-to-date period ended Shares for Use in Allocation of Participating Earnings: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Weighted average ordinary shares outstanding 88,232,694 86,896,779 87,731,986 86,895,285 Non-vested, participating restricted shares 1,163,757 1,600,200 1,163,757 1,600,200 Shares for use in allocation of participating earnings 89,396,451 88,496,979 88,895,743 88,495,485 Basic earnings per share (EPS): SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE Quarter ended Year-to-date Period Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net income $ 10,536 $ 11,356 $ 21,903 $ 24,530 Less dividends to: Ordinary Shares - - - - Non-vested participating shares - - - - Total Undistributed Earnings $ 10,536 $ 11,356 $ 21,903 $ 24,530 Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Allocation of undistributed earnings to Ordinary Shares $ 10,399 $ 11,151 $ 21,616 $ 24,086 Allocation of undistributed earnings to Non-vested Shares 137 205 287 444 Total Undistributed Earnings $ 10,536 $ 11,356 $ 21,903 $ 24,530 Quarter ended Year-to-date period ended Ordinary Shares: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Distributed Earnings $ - $ - $ - $ - Undistributed Earnings 0.12 0.13 0.25 0.28 Total $ 0.12 $ 0.13 $ 0.25 $ 0.28 Diluted earnings per share (EPS): Quarter ended June 30, 2020 Quarter ended June 30, 2019 Ordinary shares Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS As reported — basic $ 10,399 88,232,694 $ 0.12 $ 11,151 86,896,779 $ 0.13 Add-back: Undistributed earnings allocated to non-vested shareholders 137 - 205 - 12,618,680 5.75 (1) - - - - 22,921,700 5.75 (1) - - - - Less: Undistributed earnings reallocated to non-vested shareholders (137 ) - (205 ) - Diluted EPS — Ordinary shares $ 10,399 88,232,694 $ 0.12 $ 11,151 86,896,779 $ 0.13 Year-to-date period ended Year-to-date period ended Ordinary shares Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS As reported — basic $ 21,616 87,731,986 $ 0.25 $ 24,086 86,865,285 $ 0.28 Add-back: Undistributed earnings allocated to non-vested shareholders 287 - 444 - 12,618,680 5.75 (1) - - - - 22,921,700 Public Warrants $5.75 per half share (anti-dilutive) (1) - - - - Less: Undistributed earnings reallocated to non-vested shareholders (287 ) - (444 ) - Diluted EPS — Ordinary shares $ 21,616 87,731,986 $ 0.25 $ 24,086 86,895,285 $ 0.28 (1) Non-participating warrants that could be converted into as many as 17,770,190 1,080,905

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	17. INCOME TAXES NESR is a holding company incorporated in the British Virgin Islands, which imposes a zero percent statutory corporate income tax rate on income generated outside of the British Virgin Islands. The subsidiaries operate in multiple tax jurisdictions throughout the MENA and Asia Pacific regions where statutory tax rates generally vary from 12 35 In the British Virgin Islands, the statutory rate is effectively 0% as tax is not applied on extra territorial activity. The Company’s effective tax rate was 21 28 20 23

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Mubbadrah Investment LLC (“Mubbadrah”) GES leases office space in a building it owns in Muscat, Oman to Mubbadrah along with other Mubbadrah group entities (collectively, the “Mubbadrah group entities”). GES charges rental income to the Mubbadrah group entities for the occupation of the office space, based on usage. Rental income charged by GES to the Mubbadrah group entities amounted to $ 0.04 0.1 0.1 0.1 0.6 0.6 17 Heavy Equipment Manufacturing & Trading LLC (“HEMT”) HEMT is a majority owned by Mubbadrah and Hilal Al Busaidy. HEMT is engaged by various subsidiaries of GES for services such as fabrication, manufacturing and maintenance of tools and equipment. HEMT has charged GES $ 0.02 0.04 0.04 0.05 Prime Business Solutions LLC (“PBS”) PBS is 100 PBS has developed and implemented the GEARS (ERP) system for GES and is currently engaged to maintain it. Charges totaling $ 0.2 0 0.8 0 0.4 0.4 Nine Energy Service, Inc. (“Nine”) The Company purchased $ 0.3 0 1.4 0 5.3 6.8 Basin Holdings US LLC (“Basin”) The Company purchased $0.02 0 $0.45 0 0.1 0

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS Operating segments are components of an enterprise where separate financial information is available and that are evaluated regularly by the Company’s CODM in deciding how to allocate resources and in assessing performance. The Company reports segment information based on the “management” approach and its CODM is its Chief Executive Officer. The Company’s services are similar to one another in that they consist of oilfield services and related offerings, whose customers are oil and gas companies. The results of operations of the service offerings are regularly reviewed by the CODM for the Company for the purposes of determining resource and asset allocation and assessing performance. The Company has determined that it has two reportable segments, Production Services and Drilling and Evaluation Services. The CODM evaluates the operating results of its reportable segments primarily based on revenue and segment operating income. During the year-to-date period ended June 30, 2020, the Company modified its segment reporting disclosure to present segment operating income. The change better aligns the Company’s disclosure with the U.S. GAAP measure of profit used by the CODM in making decisions about allocating resources and assessing performance. Segment operating income does not include general corporate expenses as these expenses are not allocated to the Company’s reportable segments and not reported to the Company’s CODM. Production Services that are offered depend on the well life cycle in which the services may fall. They include, but are not limited to, the following types of service offerings: coil tubing, stimulation and pumping, nitrogen services, completions, pipelines, cementing, laboratory services and filtration services. Drilling and Evaluation Services generates its revenue from the following service offerings: drilling and workover rigs, rig services, drilling services and rentals, fishing and remedials, directional drilling, turbines drilling, drilling fluids, wireline logging services, slickline services and well testing services. The Company’s operations and activities are located within certain geographies, primarily the MENA region and the Asia Pacific region, which includes Malaysia, Indonesia and India. SCHEDULE OF SEGMENT REPORTING, INFORMATION ON REVENUES AND LONG-LIVED ASSETS Revenue from operations Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Reportable Segment: Production Services $ 139,034 $ 95,358 $ 272,224 $ 187,471 Drilling and Evaluation Services 64,215 64,541 130,324 124,132 Total revenue $ 203,249 $ 159,899 $ 402,548 $ 311,603 Long-lived assets June 30, 2020 December 31, Reportable Segment: Production Services $ 308,746 $ 290,765 Drilling and Evaluation Services 137,193 115,241 Total Reportable Segments 445,939 406,006 Unallocated assets 12,222 13,301 Total long-lived assets $ 458,161 $ 419,307 Operating income Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Reportable Segment: Production Services $ 20,217 $ 23,192 $ 41,545 $ 44,514 Drilling and Evaluation Services 8,334 9,413 16,202 14,892 Total Reportable Segments 28,551 32,605 57,747 59,406 Unallocated expenses (10,693 ) (10,610 ) (21,374 ) (17,303 ) Total operating income $ 17,858 $ 21,995 $ 36,373 $ 42,103 Revenue by geographic area SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS AND LONG-LIVED ASSETS, BY GEOGRAPHICAL AREAS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Geographic Area: MENA $ 200,737 $ 158,082 $ 396,798 $ 307,627 Rest of World 2,512 1,817 5,750 3,976 Total revenue $ 203,249 $ 159,899 $ 402,548 $ 311,603 Long-lived assets by geographic area June 30, 2020 December 31, 2019 Geographic area: MENA $ 449,029 $ 409,139 Rest of World 9,132 10,168 Total long-lived assets $ 458,161 $ 419,307

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Supplemental cash flow information	Supplemental cash flow information Non-cash transactions for the year-to-date period ended June 30, 2020 were as follows: ● Purchases of property, plant, and equipment in Accounts payable, Accrued expenses and Short-term borrowings at June 30, 2020 of $ 15.2 0.9 28.6 ● Capital lease obligations of $ 27.0 9.0 ● Purchases of property, plant, and equipment using seller-provided installment financing of $ 3.5 1.5 1.5 ● Obligations of $ 40.6 million classified, related to the future payments of cash and shares for the purchase of SAPESCO (Note 5), are not included under “Acquisition of business, net of cash acquired” within the Condensed Consolidated Statement of Cash Flows. Non-cash transactions for the year-to-date period ended June 30, 2019 were as follows: ● Purchases of property, plant, and equipment in accounts payable and short-term debt at June 30, 2019 of $ 28.8 5.1
Recently issued accounting standards not yet adopted	Recently issued accounting standards not yet adopted The SEC permits qualifying Emerging Growth Companies (“EGC”) to defer the adoption of accounting standards updates until the time when a private company would adopt such standards. The Company continues to qualify as an EGC as of June 30, 2020. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases,” a new standard on accounting for leases. This update increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In June 2020, the FASB Issued ASU No. 2020-05, “Accounting Standards Update 2020-05—Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities.” ASU No. 2020-05 deferred the Company’s adoption of ASU 2016-02, as amended, to fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is currently evaluating the provisions of ASU 2016-02 and related interpretive amendments (ASU 2018-01, “Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842,” ASU 2018-10, “Codification Improvements to Topic 842, Leases,” ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” and ASU 2019-01, “Leases (Topic 842): Codification Improvements,” inclusive) and assessing the impact, if any, on its condensed consolidated interim financial statements and related disclosures. All other new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE BY GEOGRAPHY	Based on these considerations, the following table provides disaggregated revenue data by the phase in a well’s lifecycle during which revenue has been recorded (in US$ thousands): SCHEDULE OF DISAGGREGATION OF REVENUE BY GEOGRAPHY Quarter ended Year-to-date period ended Revenue by Phase in Well’s Lifecycle: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Production Services $ 139,034 $ 95,358 $ 272,224 $ 187,471 Drilling and Evaluation Services 64,215 64,541 130,324 124,132 Total revenue by phase in well’s life cycle $ 203,249 $ 159,899 $ 402,548 $ 311,603

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
SCHEDULE OF CONSIDERATION TO PURCHASE ISSUED AND OUTSTANDING EQUITY INTEREST	The following summarizes the preliminary consideration to purchase 99.7 % of the issued and outstanding equity interests of SAPESCO: SCHEDULE OF CONSIDERATION TO PURCHASE ISSUED AND OUTSTANDING EQUITY INTEREST SAPESCO [Member] SAPESCO Value (In US$ thousands) Shares Cash consideration $ 16,958 Total consideration – cash 16,958 NESR ordinary share consideration 12,013 2,237,000 Total consideration – equity (1) 12,013 2,237,000 Estimated earn-out mechanisms 11,678 - (2) Preliminary consideration $ 40,649 2,237,000 (1) The fair value of NESR ordinary shares was determined based upon the $ 5.37 (2) The quantity of Additional Earn-Out Shares will not be known until the fourth quarter of 2020 when this contingency is resolved. A liability totalling $ 6.4
SCHEDULE OF PURCHASE PRICE ALLOCATION	The following table summarizes the preliminary allocation of the purchase price allocation (in US% thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION Allocation of consideration Cash and cash equivalents $ 3,740 Accounts receivable, net 16,516 Unbilled revenue 5,976 Service inventories 5,654 Prepaid assets 679 Retention withholdings 279 Other current assets 551 Property, plant and equipment 34,161 Intangible assets 4,220 Other assets 200 Total identifiable assets acquired 71,976 Accounts payable 11,974 Accrued expenses 6,455 Current installments of long-term debt 5,400 Short-term borrowings 5,692 Income taxes payable 313 Other taxes payable 2,514 Other current liabilities 1,679 Long-term debt 15,582 Employee benefit liabilities 868 Other liabilities 1,733 Noncontrolling interests 59 Net identifiable liabilities acquired 52,269 Total fair value of net assets acquired 19,707 Goodwill 20,942 Preliminary consideration $ 40,649
SCHEDULE OF PRELIMINARY ALLOCATION TO INTANGIBLE ASSETS	The preliminary allocation to intangible assets is as follows (in US$ thousands): SCHEDULE OF PRELIMINARY ALLOCATION TO INTANGIBLE ASSETS Fair Value Total Useful Life (In US$ thousands) Customer contracts $ 3,770 8 years Trademarks and trade names 450 2 years Total intangible assets $ 4,220
SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS	The following table summarizes the supplemental consolidated results of the Company on an unaudited pro forma basis, as if the Business Combination had been consummated on January 1, 2019 for the quarter and year-to-date periods ended June 30, 2020 and June 30, 2019, respectively (in US$ thousands): SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues $ 209,563 $ 179,557 $ 421,287 $ 347,941 Net income/(loss) 7,034 17,695 19,184 35,086

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
SCHEDULE OF ACCOUNTS RECEIVABLE	The following table summarizes the accounts receivable of the Company as of the period end dates set forth below (in US$ thousands): SCHEDULE OF ACCOUNTS RECEIVABLE June 30, 2020 December 31, 2019 Trade receivables $ 115,819 $ 100,642 Less: allowance for doubtful accounts (2,365 ) (1,843 ) Total $ 113,454 $ 98,799
SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS	SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Allowance for doubtful accounts at beginning of period $ (2,442 ) $ (760 ) $ (1,843 ) $ (693 ) (Increase) decrease to allowance for the year (25 ) (339 ) 26 (476 ) (Recovery) write-off of doubtful accounts 161 649 161 719 Non-cash reclass of allowance for doubtful accounts between unbilled revenue and accounts receivable (59 ) - (708 ) - Allowance for doubtful accounts at end of period $ (2,365 ) $ (450 ) $ (2,365 ) $ (450 )

SERVICE INVENTORIES (Tables)

SERVICE INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
SCHEDULE OF SERVICE INVENTORIES	The following table summarizes the service inventories for the periods as set forth below (in US$ thousands): SCHEDULE OF SERVICE INVENTORIES June 30, December 31, 2020 2019 Spare parts $ 54,739 $ 39,428 Chemicals 24,589 22,852 Raw materials 911 2,441 Consumables 13,916 15,897 Total 94,155 80,618 Less: allowance for obsolete and slow-moving inventories (2,391 ) (1,777 ) Total $ 91,764 $ 78,841

PROPERTY, PLANT, & EQUIPMENT (T

PROPERTY, PLANT, & EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT	Property, plant and equipment, net of accumulated depreciation, of the Company consists of the following as of the period end dates set forth below (in US$ thousands): SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Estimated Useful Lives (in years) June 30, 2020 December 31, 2019 Buildings and leasehold improvements 5 25 $ 38,701 $ 36,853 Oilfield equipment 3 15 505,504 411,984 Furniture and fixtures 5 1,503 3,720 Office equipment and tools 3 6 39,589 35,991 Vehicles and cranes 5 8 8,262 12,292 Less: Accumulated depreciation (151,440 ) (104,689 ) Land 5,104 5,104 Capital work in progress 10,938 18,052 Total $ 458,161 $ 419,307

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF CHANGES IN CARRYING AMOUNT OF GOODWILL	Changes in the carrying amount of goodwill of the Company between December 31, 2019, and June 30, 2020 are as follows (in US$ thousands): SCHEDULE OF CHANGES IN CARRYING AMOUNT OF GOODWILL Production Services Drilling and Evaluation Services Goodwill Balance as of December 31, 2019 $ 419,646 $ 155,118 $ 574,764 SAPESCO Business Combination 8,263 12,679 20,942 Balance as of June 30, 2020 $ 427,909 $ 167,797 $ 595,706
SCHEDULE OF INTANGIBLE ASSETS SUBJECT TO AMORTIZATION	The following is the weighted average amortization period for intangible assets of the Company subject to amortization (in years): SCHEDULE OF INTANGIBLE ASSETS SUBJECT TO AMORTIZATION Amortization Customer contracts 9.9 Trademarks and trade names 7.9 Total intangible assets 9.6 The details of our intangible assets subject to amortization are set forth below (in US$ thousands): June 30, 2020 December 31, 2019 Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer contracts $ 125,270 $ (25,355 ) $ 99,916 $ 121,500 $ (19,239 ) $ 102,261 Trademarks and trade names 25,950 (6,660 ) 19,290 25,500 (5,047 ) 20,453 Total intangible assets $ 151,220 $ (32,014 ) $ 119,206 $ 147,000 $ (24,286 ) $ 122,714

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
SCHEDULE OF LONG TERM DEBT OBLIGATIONS	The Company’s long-term debt obligations consist of the following (in US$ thousands): SCHEDULE OF LONG TERM DEBT OBLIGATIONS June 30, 2020 December 31, 2019 Secured Term Loan $ 300,000 $ 300,000 Secured Revolving Credit Facility 65,000 50,000 CIB Long-Term Debt 20,972 - Less: unamortized debt issuance costs (4,143 ) (4,436 ) Total loans and borrowings 381,829 345,564 Less: current portion of long-term debt (46,372 ) (15,000 ) Long-term debt, net of unamortized debt issuance costs and excluding current installments $ 335,457 $ 330,564
SCHEDULE OF SHORT TERM DEBT OBLIGATIONS	The Company’s short-term debt obligations consist of the following (in US$ thousands): SCHEDULE OF SHORT TERM DEBT OBLIGATIONS June 30, December 31, CIB Short-Term Debt $ 2,177 $ - ABK Short-Term Debt 2,964 - Other short-term borrowings 34,640 37,963 Short-term debt, excluding current installments of long-term debt $ 39,781 $ 37,963
SCHEDULE PRINCIPAL PAYMENTS OF LONG TERM DEBT	Scheduled principal payments of long-term debt for periods subsequent to June 30, 2020 are as follows (in US$ thousands): SCHEDULE PRINCIPAL PAYMENTS OF LONG TERM DEBT 2020 $ 25,972 2021 47,500 2022 45,000 2023 110,000 2024 45,000 2025 112,500 Thereafter - Total $ 385,972

EMPLOYEE BENEFITS (Tables)

EMPLOYEE BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST	The Components of net period benefit cost were as follows (in US$ thousands): SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Service cost $ 761 $ 591 $ 1,900 $ 1,440 Interest cost 190 43 475 176 Other - 66 - 55 Net cost $ 951 $ 700 $ 2,375 $ 1,671

SHARE-BASED COMPENSATION EXPE_2

SHARE-BASED COMPENSATION EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
SCHEDULE OF UNVESTED RESTRICTED STOCK	The following tables set forth the LTIP activity for the periods indicated (in US$ thousands, except share and per share amounts): SCHEDULE OF UNVESTED RESTRICTED STOCK Quarter ended June 30, 2020 June 30, 2019 Number of Restricted Shares Weighted Average Value per Share Number of Restricted Shares Weighted Average Value per Share Unvested at Beginning of Period 2,244,662 $ 7.72 725,200 $ 11.15 Granted - $ - 970,000 $ 10.36 Vested and issued - $ - - $ - Forfeited - $ - (95,000 ) $ 10.86 Unvested at End of Period 2,244,662 $ 7.72 1,600,200 $ 10.59 Year-to-date period ended June 30, 2020 June 30, 2019 Number of Restricted Shares Weighted Average Number of Restricted Shares Weighted Average Unvested at Beginning of Period 1,502,690 $ 10.25 725,200 $ 11.15 Granted 1,080,905 $ 4.96 970,000 $ 10.36 Vested and issued (307,932 ) $ 10.36 - $ - Forfeited (31,001 ) $ 10.45 (95,000 ) $ 10.86 Unvested at End of Period 2,244,662 $ 7.72 1,600,200 $ 10.59
SCHEDULE OF STOCK-BASED COMPENSATION	SCHEDULE OF STOCK-BASED COMPENSATION Quarter ended Year-to-date period ended June 30, June 30, 2019 June 30, June 30, 2019 Cost of Services $ 938 $ 654 $ 1,665 $ 968 Selling, general and administrative expenses 1,187 719 2,095 1,145 Net cost $ 2,125 $ 1,373 $ 3,760 $ 2,113

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON-CANCELABLE OPERATING LEASES	Future minimum lease payments and future interest payments under non-cancellable equipment capital leases at June 30, 2020 and December 31, 2019, are payable as follows (in US$ thousands): SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON-CANCELABLE OPERATING LEASES As of June 30, 2020 As of December 31, 2019 Future Minimum Lease Payments Future Interest Payments Total Payments Future Minimum Lease Payments Future Interest Payments Total Payments 2020 $ 15,948 $ 1,414 $ 17,362 $ 22,930 $ 1,070 $ 24,000 2021 14,835 836 15,671 10,743 1,257 12,000 2022 3,214 445 3,659 - - - 2023 1,611 344 1,955 - - - 2024 315 133 448 - - - 2025 - - - - - - Thereafter - - - - - - Total $ 35,923 $ 3,172 $ 39,095 $ 33,673 $ 2,327 $ 36,000 Operating lease commitments Future minimum lease commitments under non-cancellable operating leases with initial or remaining terms of one year or more at June 30, 2020 and December 31, 2019, respectively, are payable as follows (in US$ thousands): June 30, 2020 December 31, 2019 2020 $ 19,092 $ 23,201 2021 18,781 18,560 2022 2,820 2,780 2023 1,338 2,291 2024 1,338 2,292 2025 1,342 2,296 Thereafter 3,281 1,629 Total $ 47,992 $ 53,049

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
SCHEDULE OF A RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING	The following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the period (in US$ thousands except shares and per share amounts). SCHEDULE OF A RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING Date Transaction Detail Change in Shares Quarter ended June 30, 2020 March 31, 2020 Beginning Balance 87,495,221 June 1, 2020 Shares to be issued in SAPESCO transaction (Note 5) (1) 2,237,000 737,473 June 30, 2020 Ending Balance 88,232,694 (1) Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000 Date Transaction Detail Change in Shares Quarter ended June 30, 2019 Weighted Average Ordinary Shares Outstanding March 31, 2019 Beginning Balance 86,896,779 June 30, 2019 Ending Balance 86,896,779 Date Transaction Detail Change in Shares Year-to-date period ended June 30, 2020 December 31, 2019 Beginning Balance 87,187,289 March 18, 2020 Restricted stock vesting 307,932 175,961 June 1, 2020 Shares to be issued in SAPESCO transaction (Note 5) (1) 2,237,000 368,736 June 30, 2020 Ending Balance 87,731,986 (1) Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000 Date Transaction Detail Change in Shares Year-to-date period ended June 30, 2019 Weighted Average Ordinary Shares Outstanding December 31, 2018 Beginning Balance 85,562,769 January 9, 2019 Other 33,796 32,302 February 19, 2019 NPS equity stock earn-out 1,300,214 1,300,214 June 30, 2019 Ending Balance 86,895,285 Quarter ended Year-to-date period ended Shares for Use in Allocation of Participating Earnings: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Weighted average ordinary shares outstanding 88,232,694 86,896,779 87,731,986 86,895,285 Non-vested, participating restricted shares 1,163,757 1,600,200 1,163,757 1,600,200 Shares for use in allocation of participating earnings 89,396,451 88,496,979 88,895,743 88,495,485
SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE	Basic earnings per share (EPS): SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE Quarter ended Year-to-date Period Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net income $ 10,536 $ 11,356 $ 21,903 $ 24,530 Less dividends to: Ordinary Shares - - - - Non-vested participating shares - - - - Total Undistributed Earnings $ 10,536 $ 11,356 $ 21,903 $ 24,530 Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Allocation of undistributed earnings to Ordinary Shares $ 10,399 $ 11,151 $ 21,616 $ 24,086 Allocation of undistributed earnings to Non-vested Shares 137 205 287 444 Total Undistributed Earnings $ 10,536 $ 11,356 $ 21,903 $ 24,530 Quarter ended Year-to-date period ended Ordinary Shares: June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Distributed Earnings $ - $ - $ - $ - Undistributed Earnings 0.12 0.13 0.25 0.28 Total $ 0.12 $ 0.13 $ 0.25 $ 0.28 Diluted earnings per share (EPS): Quarter ended June 30, 2020 Quarter ended June 30, 2019 Ordinary shares Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS As reported — basic $ 10,399 88,232,694 $ 0.12 $ 11,151 86,896,779 $ 0.13 Add-back: Undistributed earnings allocated to non-vested shareholders 137 - 205 - 12,618,680 5.75 (1) - - - - 22,921,700 5.75 (1) - - - - Less: Undistributed earnings reallocated to non-vested shareholders (137 ) - (205 ) - Diluted EPS — Ordinary shares $ 10,399 88,232,694 $ 0.12 $ 11,151 86,896,779 $ 0.13 Year-to-date period ended Year-to-date period ended Ordinary shares Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS Undistributed & distributed earnings to ordinary shareholders Ordinary shares EPS As reported — basic $ 21,616 87,731,986 $ 0.25 $ 24,086 86,865,285 $ 0.28 Add-back: Undistributed earnings allocated to non-vested shareholders 287 - 444 - 12,618,680 5.75 (1) - - - - 22,921,700 Public Warrants $5.75 per half share (anti-dilutive) (1) - - - - Less: Undistributed earnings reallocated to non-vested shareholders (287 ) - (444 ) - Diluted EPS — Ordinary shares $ 21,616 87,731,986 $ 0.25 $ 24,086 86,895,285 $ 0.28 (1) Non-participating warrants that could be converted into as many as 17,770,190 1,080,905

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT REPORTING, INFORMATION ON REVENUES AND LONG-LIVED ASSETS	The Company’s operations and activities are located within certain geographies, primarily the MENA region and the Asia Pacific region, which includes Malaysia, Indonesia and India. SCHEDULE OF SEGMENT REPORTING, INFORMATION ON REVENUES AND LONG-LIVED ASSETS Revenue from operations Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Reportable Segment: Production Services $ 139,034 $ 95,358 $ 272,224 $ 187,471 Drilling and Evaluation Services 64,215 64,541 130,324 124,132 Total revenue $ 203,249 $ 159,899 $ 402,548 $ 311,603 Long-lived assets June 30, 2020 December 31, Reportable Segment: Production Services $ 308,746 $ 290,765 Drilling and Evaluation Services 137,193 115,241 Total Reportable Segments 445,939 406,006 Unallocated assets 12,222 13,301 Total long-lived assets $ 458,161 $ 419,307 Operating income Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Reportable Segment: Production Services $ 20,217 $ 23,192 $ 41,545 $ 44,514 Drilling and Evaluation Services 8,334 9,413 16,202 14,892 Total Reportable Segments 28,551 32,605 57,747 59,406 Unallocated expenses (10,693 ) (10,610 ) (21,374 ) (17,303 ) Total operating income $ 17,858 $ 21,995 $ 36,373 $ 42,103
SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS AND LONG-LIVED ASSETS, BY GEOGRAPHICAL AREAS	Revenue by geographic area SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS AND LONG-LIVED ASSETS, BY GEOGRAPHICAL AREAS Quarter ended Year-to-date period ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Geographic Area: MENA $ 200,737 $ 158,082 $ 396,798 $ 307,627 Rest of World 2,512 1,817 5,750 3,976 Total revenue $ 203,249 $ 159,899 $ 402,548 $ 311,603 Long-lived assets by geographic area June 30, 2020 December 31, 2019 Geographic area: MENA $ 449,029 $ 409,139 Rest of World 9,132 10,168 Total long-lived assets $ 458,161 $ 419,307

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Extinguishment of Debt [Line Items]
Capital lease obligations, current	$ 27
Long term obligations	9
SAPESCO [Member]
Extinguishment of Debt [Line Items]
Capital lease obligations, current	40.6
Other Current Liabilities [Member]
Extinguishment of Debt [Line Items]
Purchases of property, plant, and equipment	3.5
Other Liabilities [Member]
Extinguishment of Debt [Line Items]
Purchases of property, plant, and equipment	1.5
Accounts Payable [Member]
Extinguishment of Debt [Line Items]
Purchases of property, plant, and equipment	15.2	$ 28.8
Additional purchase of property, plant, and equipment	1.5
Accrued Liabilities [Member]
Extinguishment of Debt [Line Items]
Purchases of property, plant, and equipment	0.9
Short-term Debt [Member]
Extinguishment of Debt [Line Items]
Purchases of property, plant, and equipment	$ 28.6	$ 5.1

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE BY GEOGRAPHY (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 203,249	$ 159,899	$ 402,548	$ 311,603
Production Services [Member]
Disaggregation of Revenue [Line Items]
Total revenue	139,034	95,358	272,224	187,471
Drilling and Evaluation Services [Member]
Disaggregation of Revenue [Line Items]
Total revenue	$ 64,215	$ 64,541	$ 130,324	$ 124,132

SCHEDULE OF CONSIDERATION TO PU

SCHEDULE OF CONSIDERATION TO PURCHASE ISSUED AND OUTSTANDING EQUITY INTEREST (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
		Jun. 30, 2020	Jun. 02, 2020
Business Acquisition [Line Items]
NESR ordinary share consideration, shares		2,237,000
Other liabilities		$ 6,400
SAPESCO [Member]
Business Acquisition [Line Items]
Cash consideration		16,958
Total consideration - cash		16,958
NESR ordinary share consideration		$ 12,013
NESR ordinary share consideration, shares		2,237,000
Total consideration - equity	[1]	$ 12,013
Total consideration - equity, shares	[1]	2,237,000
Estimated earn-out mechanisms		$ 11,678
Estimated earn-out mechanisms, shares	[2]
Preliminary consideration		$ 40,649
Preliminary consideration, shares		2,237,000
Business Acquisition, Share Price			$ 5.37
[1]	The fair value of NESR ordinary shares was determined based upon the $ 5.37
[2]	The quantity of Additional Earn-Out Shares will not be known until the fourth quarter of 2020 when this contingency is resolved. A liability totalling $ 6.4

SCHEDULE OF PURCHASE PRICE ALLO

SCHEDULE OF PURCHASE PRICE ALLOCATION (Details) $ in Thousands	Jun. 30, 2020USD ($)
Business Combinations [Abstract]
Cash and cash equivalents	$ 3,740
Accounts receivable, net	16,516
Unbilled revenue	5,976
Service inventories	5,654
Prepaid assets	679
Retention withholdings	279
Other current assets	551
Property, plant and equipment	34,161
Intangible assets	4,220
Other assets	200
Total identifiable assets acquired	71,976
Accounts payable	11,974
Accrued expenses	6,455
Current installments of long-term debt	5,400
Short-term borrowings	5,692
Income taxes payable	313
Other taxes payable	2,514
Other current liabilities	1,679
Long-term debt	15,582
Employee benefit liabilities	868
Other liabilities	1,733
Noncontrolling interests	59
Net identifiable liabilities acquired	52,269
Total fair value of net assets acquired	19,707
Goodwill	20,942
Preliminary consideration	$ 40,649

SCHEDULE OF PRELIMINARY ALLOCAT

SCHEDULE OF PRELIMINARY ALLOCATION TO INTANGIBLE ASSETS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Business Acquisition [Line Items]
Total intangible assets	$ 4,220
Sahara Petroleum Services Company [Member]
Business Acquisition [Line Items]
Total intangible assets	4,220
Sahara Petroleum Services Company [Member] | Customer Contracts [Member]
Business Acquisition [Line Items]
Total intangible assets	$ 3,770
Total intangible assets, term	8 years
Sahara Petroleum Services Company [Member] | Trademarks and Trade Names [Member]
Business Acquisition [Line Items]
Total intangible assets	$ 450
Total intangible assets, term	2 years

SCHEDULE OF PROFORMA INFORMATIO

SCHEDULE OF PROFORMA INFORMATION OF OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Business Combinations [Abstract]
Revenues	$ 209,563	$ 179,557	$ 421,287	$ 347,941
Net income/(loss)	$ 7,034	$ 17,695	$ 19,184	$ 35,086

BUSINESS COMBINATION (Details N

BUSINESS COMBINATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Sep. 01, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 02, 2020	Jun. 01, 2020	Feb. 13, 2020
Business Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares				2,237,000
[custom:BusinessCombinationOfDeferredConsideration-0]		$ 6,000		$ 6,000					$ 5,958
Amount allocated to goodwill		20,900		20,900
Business Acquisition, Transaction Costs		900		900
Revenue		209,563	$ 179,557	421,287	$ 347,941
Net income		7,034	$ 17,695	19,184	$ 35,086
SAPESCO [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred				16,958
Payments to Acquire Businesses, Gross				$ 16,958
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares				2,237,000
Average per share price								$ 5.37
Revenue		3,900		$ 3,900
Net income		$ 100		$ 100
Sale and Purchase Agreement [Member] | Forecast [Member]
Business Acquisition [Line Items]
Business combination issued in equity earn-outs							$ 11,700
Receivables earn-eut shares contingency fair value							$ 0
Sale and Purchase Agreement [Member] | Forecast [Member] | Minimum [Member]
Business Acquisition [Line Items]
Average per share price							$ 10
Sale and Purchase Agreement [Member] | Forecast [Member] | Maximum [Member]
Business Acquisition [Line Items]
Average per share price							11.70
Sale and Purchase Agreement [Member] | Additional Earn-Out Shares [Member] | Forecast [Member]
Business Acquisition [Line Items]
Average per share price						$ 9
Sale and Purchase Agreement [Member] | NESR Additional Shares [Member] | Forecast [Member] | Minimum [Member]
Business Acquisition [Line Items]
Average per share price							10
Sale and Purchase Agreement [Member] | NESR Additional Shares [Member] | Forecast [Member] | Maximum [Member]
Business Acquisition [Line Items]
Average per share price							$ 11.70
Sale and Purchase Agreement [Member] | Subsequent Event [Member] | Cash Earn-Out [Member]
Business Acquisition [Line Items]
Receivables	$ 6,900
Sale and Purchase Agreement [Member] | SAPESCO [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired										99.70%
Sale and Purchase Agreement [Member] | SAPESCO [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	99.70%
Business Combination, Consideration Transferred	$ 11,000
Payments to Acquire Businesses, Gross	$ 17,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	2,237,000
Sale and Purchase Agreement [Member] | SAPESCO [Member] | Subsequent Event [Member] | Three Equal Installments [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 6,000
[custom:ConversionPricePerShare-0]	$ 10

SCHEDULE OF ACCOUNTS RECEIVABLE

SCHEDULE OF ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	$ 115,800	$ 100,600
Less: allowance for doubtful accounts	(2,365)	(1,843)
Total	113,454	98,799
Trade Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivables, gross	$ 115,819	$ 100,642

SCHEDULE OF ALLOWANCE FOR DOUBT

SCHEDULE OF ALLOWANCE FOR DOUBTFUL ACCOUNTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Receivables [Abstract]
Allowance for doubtful accounts at beginning of period	$ (2,442)	$ (760)	$ (1,843)	$ (693)
(Increase) decrease to allowance for the year	(25)	(339)	26	(476)
(Recovery) write-off of doubtful accounts	161	649	161	719
Non-cash reclass of allowance for doubtful accounts between unbilled revenue and accounts receivable	(59)		(708)
Allowance for doubtful accounts at end of period	$ (2,365)	$ (450)	$ (2,365)	$ (450)

ACCOUNTS RECEIVABLE (Details Na

ACCOUNTS RECEIVABLE (Details Narrative) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Gross contractual amounts of trade receivables	$ 115.8	$ 100.6

SCHEDULE OF SERVICE INVENTORIES

SCHEDULE OF SERVICE INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Long-term Purchase Commitment [Line Items]
Service inventories, gross	$ 94,155	$ 80,618
Less: allowance for obsolete and slow-moving inventories	(2,391)	(1,777)
Service inventories, net	91,764	78,841
Spare Parts [Member]
Long-term Purchase Commitment [Line Items]
Service inventories, gross	54,739	39,428
Chemicals [Member]
Long-term Purchase Commitment [Line Items]
Service inventories, gross	24,589	22,852
Raw Materials [Member]
Long-term Purchase Commitment [Line Items]
Service inventories, gross	911	2,441
Consumables [Member]
Long-term Purchase Commitment [Line Items]
Service inventories, gross	$ 13,916	$ 15,897

SCHEDULE OF PROPERTY, PLANT AND

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (151,440)	$ (104,689)
Land	5,104	5,104
Capital work in progress	10,938	18,052
Property, plant and equipment net	458,161	419,307
Buildings And Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 38,701	36,853
Buildings And Leasehold Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Buildings And Leasehold Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	25 years
Oilfield Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 505,504	411,984
Oilfield Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Oilfield Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Property, plant and equipment gross	$ 1,503	3,720
Office Equipment and Tools [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 39,589	35,991
Office Equipment and Tools [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	3 years
Office Equipment and Tools [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	6 years
Vehicles and Cranes [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment gross	$ 8,262	$ 12,292
Vehicles and Cranes [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	5 years
Vehicles and Cranes [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment estimated useful lives	8 years

PROPERTY, PLANT, & EQUIPMENT (D

PROPERTY, PLANT, & EQUIPMENT (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 26.4	$ 16	$ 51.8	$ 30.5

SCHEDULE OF CHANGES IN CARRYING

SCHEDULE OF CHANGES IN CARRYING AMOUNT OF GOODWILL (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Indefinite-lived Intangible Assets [Line Items]
Balance as of December 31, 2019	$ 574,764
SAPESCO Business Combination	20,942
Balance as of March 31, 2020	595,706
Production Services [Member]
Indefinite-lived Intangible Assets [Line Items]
Balance as of December 31, 2019	419,646
SAPESCO Business Combination	8,263
Balance as of March 31, 2020	427,909
Drilling and Evaluation Services [Member]
Indefinite-lived Intangible Assets [Line Items]
Balance as of December 31, 2019	155,118
SAPESCO Business Combination	12,679
Balance as of March 31, 2020	$ 167,797

SCHEDULE OF INTANGIBLE ASSETS S

SCHEDULE OF INTANGIBLE ASSETS SUBJECT TO AMORTIZATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, term	9 years 7 months 6 days
Intangible assets, gross carrying amount	$ 151,220	$ 147,000
Intangible assets, accumulated amortization	(32,014)	(24,286)
Intangible assets, net carrying amount	$ 119,206	122,714
Customer Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, term	9 years 10 months 24 days
Intangible assets, gross carrying amount	$ 125,270	121,500
Intangible assets, accumulated amortization	(25,355)	(19,239)
Intangible assets, net carrying amount	$ 99,916	102,261
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, term	7 years 10 months 24 days
Intangible assets, gross carrying amount	$ 25,950	25,500
Intangible assets, accumulated amortization	(6,660)	(5,047)
Intangible assets, net carrying amount	$ 19,290	$ 20,453

SCHEDULE OF LONG TERM DEBT OBLI

SCHEDULE OF LONG TERM DEBT OBLIGATIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Less: unamortized debt issuance costs	$ (4,143)	$ (4,436)
Total loans and borrowings	381,829	345,564
Less: current portion of long-term debt	(46,372)	(15,000)
Long-term debt, net of unamortized debt issuance costs and excluding current installments	335,457	330,564
CIB Long-Term Debt [Member]
Line of Credit Facility [Line Items]
Loans and borrowings, gross	20,972
Secured Term Loan [Member]
Line of Credit Facility [Line Items]
Loans and borrowings, gross	300,000	300,000
Secured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Loans and borrowings, gross	$ 65,000	$ 50,000

SCHEDULE OF SHORT TERM DEBT OBL

SCHEDULE OF SHORT TERM DEBT OBLIGATIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Other short-term borrowings	$ 34,640	$ 37,963
Short-term debt, excluding current installments of long-term debt	39,781	37,963
Commercial International Bank [Member]
Short-term Debt [Line Items]
Short-Term Debt	2,177
Al Ahli Bank [Member]
Short-term Debt [Line Items]
Short-Term Debt	$ 2,964

SCHEDULE PRINCIPAL PAYMENTS OF

SCHEDULE PRINCIPAL PAYMENTS OF LONG TERM DEBT (Details) $ in Thousands	Jun. 30, 2020USD ($)
Debt Disclosure [Abstract]
2020	$ 25,972
2021	47,500
2022	45,000
2023	110,000
2024	45,000
2025	112,500
Thereafter
Total	$ 385,972

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)	Jun. 20, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 20, 2020	May 23, 2019	May 05, 2019
Debt Instrument [Line Items]
Long-term Line of Credit		$ 300,000,000	$ 300,000,000
Line of Credit Facility, Interest Rate During Period		2.90%	4.30%
Withdrawn term loan		$ 65,000,000	$ 50,000,000
Short-term debt, outstanding		$ 39,781,000	37,963,000
CIB Long-Term Debt [Member]
Debt Instrument [Line Items]
Debt maturity date		Jul. 20, 2021
Debt obligation		$ 21,000,000
Repayments of Debt		11,000,000
Remaining debt obligation amount		$ 10
Debt interest rate		4.40%
Long-term Debt, Description		% per annum over 6 months LIBOR (to be settled on quarterly basis) plus 50 basis points per annum. As of June 30, 2020, this resulted in an interest rate of
CIB Short-Term Debt [Member]
Debt Instrument [Line Items]
Debt maturity date		Sep. 16, 2020
Debt obligation		$ 2,600,000
Debt interest rate		2.00%
Short term debt description		The U.S. Dollar time loan facility accrues interest at 2.25% per annum over 3 months LIBOR plus 50 basis points per annum of the Highest Monthly Debit Balance (“HMDB”) commission. The Egyptian Pound time loan and overdraft facilities accrue interest at 0.75% per annum over Corridor Offer Rate plus 50 basis points per annum, HMDB commission
CIB Short-Term Debt [Member] | Letters of Guarantee [Member]
Debt Instrument [Line Items]
Debt obligation		$ 8,500,000
CIB Short-Term Debt [Member] | Egyptian [Member]
Debt Instrument [Line Items]
Debt obligation		1,300,000
CIB Short-Term Debt One [Member] | Egyptian [Member]
Debt Instrument [Line Items]
Debt obligation		2,000,000
CIB Short-Term Debt One [Member] | Egyptian [Member] | Loan Overdraft Facility [Member]
Debt Instrument [Line Items]
Debt obligation		$ 7,800,000
ABK Short-Term Debt [Member]
Debt Instrument [Line Items]
Debt maturity date		Sep. 16, 2020
Debt obligation		$ 3,100,000
Debt interest rate		10.90%
Short term debt description		The ABK Short-Term Debt accrues interest at 1.65% per annum over Corridor Offer Rate
ABK Short-Term Debt [Member] | Letters of Guarantee [Member]
Debt Instrument [Line Items]
Debt obligation		$ 200,000
Short-term debt, outstanding		200,000
Debt, available balance		0
ABK Short-Term Debt [Member] | Time Loan Facility [Member]
Debt Instrument [Line Items]
Debt obligation		3,200,000
Short-term debt, outstanding		2,900,000
Debt, available balance		0
CIB Short-Term and ABK Short Term Debt [Member]
Debt Instrument [Line Items]
Working capital facility		800,000
Utilized working capital facility		800,000
Available working capital facility		0
Time Loan Facility [Member] | CIB Short-Term Debt [Member]
Debt Instrument [Line Items]
Debt obligation		$ 1,500,000
Debt interest rate		4.60%
Short-term debt, outstanding		$ 200,000
Time Loan Facility [Member] | CIB Short-Term Debt [Member] | Letters of Guarantee [Member]
Debt Instrument [Line Items]
Debt obligation		13,800,000
Short-term debt, outstanding		5,300,000
Time Loan Facility [Member] | CIB Short-Term Debt [Member] | Egyptian [Member]
Debt Instrument [Line Items]
Debt obligation		$ 2,000,000
Debt interest rate		10.60%
Short-term debt, outstanding		$ 0
Time Loan Facility [Member] | CIB Short-Term Debt One [Member] | Egyptian [Member]
Debt Instrument [Line Items]
Debt obligation		10,000,000
Short-term debt, outstanding		2,200,000
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	2.40%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate During Period	2.70%
Term Loan [Member]
Debt Instrument [Line Items]
Term of agreements	2025
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Term of agreements	2023
Long-term Line of Credit	$ 65,000,000
Commitment fee percentage	0.60%
Debt maturity date	May 6, 2023
Prepayment under revolving credit facility, description	The Company is permitted to make any prepayment under this RCF in multiples of $5.0 million during this 4-year period up to May 6, 2023
Prepayment of borrowings	$ 5,000,000
Line of credit available to be drawn		0	15,000,000
Secured Facilities Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	525,000,000			$ 520,600,000	$ 485,000,000	$ 450,000,000
Reduced term loan amount				520,600,000
Term loan amount				300,000,000
Working capital facility	155,600,000	$ 24,400,000	$ 30,400,000
Service coverage ratio, description		The Secured Facilities Agreement includes covenants that specify maximum leverage (Net Debt / EBITDA) up to 3.50, minimum debt service coverage ratio (Cash Flow / Debt Service) of at least 1.25, and interest coverage (EBITDA / Interest) of at least 4.00. The Company was in compliance with all financial covenants as of both June 30, 2020 and December 31, 2019	The Secured Facilities Agreement includes covenants that specify maximum leverage (Net Debt / EBITDA) up to 3.50, minimum debt service coverage ratio (Cash Flow / Debt Service) of at least 1.25, and interest coverage (EBITDA / Interest) of at least 4.00. The Company was in compliance with all financial covenants as of both June 30, 2020 and December 31, 2019
Secured Facilities Agreement [Member] | HSBC Bank Middle East Limited [Member]
Debt Instrument [Line Items]
Working capital facility		$ 19,400,000	$ 24,100,000
Utilized working capital facility		5,000,000	6,300,000
Secured Facilities Agreement [Member] | HSBC Bank Middle East Limited [Member] | QATAR
Debt Instrument [Line Items]
Working capital facility			16,400,000	$ 10,400,000
Secured Facilities Agreement [Member] | HSBC Bank Middle East Limited [Member] | UNITED ARAB EMIRATES
Debt Instrument [Line Items]
Working capital facility		13,900,000	13,900,000
Secured Facilities Agreement [Member] | HSBC Bank Middle East Limited [Member] | KUWAIT
Debt Instrument [Line Items]
Working capital facility		100,000	100,000
Secured Facilities Agreement [Member] | Lenders [Member]
Debt Instrument [Line Items]
Working capital facility		$ 127,400,000	134,200,000
Line of credit, description		letters of guarantee and letters of credit and refinancing letters of credit over a period of one year, which carries an interest rate equal to three-month U.S. Dollar LIBOR for the applicable interest period, plus a margin of 1.00% to 1.25% per annum.
Utilized working capital facility		$ 28,200,000	$ 25,800,000
Incremental Facilities Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 40,000,000				$ 35,000,000

SCHEDULE OF COMPONENTS OF NET P

SCHEDULE OF COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 761	$ 591	$ 1,900	$ 1,440
Interest cost	190	43	475	176
Other		66		55
Net cost	$ 951	$ 700	$ 2,375	$ 1,671

EMPLOYEE BENEFITS (Details Narr

EMPLOYEE BENEFITS (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Employer Contributions to benefit plans	$ 0.9	$ 0.1	$ 1.2	$ 1.1
Total contributions	$ 0.8	$ 0.8	$ 1.6	$ 1.6

SCHEDULE OF UNVESTED RESTRICTED

SCHEDULE OF UNVESTED RESTRICTED STOCK (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Unvested, Beginning Balance	2,244,662	725,200	1,502,690	725,200
Weighted Average Grant Date Fair Value per Share, Unvested, Beginning Balance	$ 7.72	$ 11.15	$ 10.25	$ 11.15
Number of Restricted Shares, Granted		970,000	1,080,905	970,000
Weighted Average Grant Date Fair Value per Share, Granted		$ 10.36	$ 4.96	$ 10.36
Number of Restricted Shares, Vested and issued			(307,932)
Weighted Average Grant Date Fair Value per Share, Vested and issued			$ 10.36
Number of Restricted Shares, Forfeited		(95,000)	(31,001)	(95,000)
Weighted Average Grant Date Fair Value per Share, Forfeited		$ 10.86	$ 10.45	$ 10.86
Number of Restricted Shares, Unvested, Ending Balance	2,244,662	1,600,200	2,244,662	1,600,200
Weighted Average Grant Date Fair Value per Share, Unvested, Ending Balance	$ 7.72	$ 10.59	$ 7.72	$ 10.59

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 2,125	$ 1,373	$ 3,760	$ 2,113
Cost of Services [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	938	654	1,665	968
Selling, General and Administrative Expenses [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 1,187	$ 719	$ 2,095	$ 1,145

SHARE-BASED COMPENSATION EXPE_3

SHARE-BASED COMPENSATION EXPENSE (Details Narrative) - 2018 Long Term Incentive Plan [Member] - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares reserved for issuance			5,000,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 12.8	$ 11.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	1 year 10 months 24 days	2 years
Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-based and vest ratably period			1 year
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Time-based and vest ratably period			3 years

SCHEDULE OF FUTURE MINIMUM LEAS

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS UNDER NON-CANCELABLE OPERATING LEASES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments 2020	$ 15,948	$ 22,930
Future Interest Payments 2020	1,414	1,070
Total Payments 2020	17,362	24,000
Future Minimum Lease Payments 2021	14,835	10,743
Future Interest Payments 2021	836	1,257
Total Payments 2021	15,671	12,000
Future Minimum Lease Payments 2022	3,214
Future Interest Payments 2022	445
Total Payments 2022	3,659
Future Minimum Lease Payments 2023	1,611
Future Interest Payments 2023	344
Total Payments 2023	1,955
Future Minimum Lease Payments 2024	315
Future Interest Payments 2024	133
Total Payments 2024	448
Future Minimum Lease Payments 2025
Future Interest Payments 2025
Total Payments 2025
Future Minimum Lease Payments Thereafter
Future Interest Payments Thereafter
Total Payments Thereafter
Future Minimum Lease Payments Total	35,923	33,673
Future Interest Payments Total	3,172	2,327
Total	39,095	36,000
2020	19,092	23,201
2021	18,781	18,560
2022	2,820	2,780
2023	1,338	2,291
2024	1,338	2,292
2025	1,342	2,296
Thereafter	3,281	1,629
Total	$ 47,992	$ 53,049

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Loss Contingencies [Line Items]
Capital expenditure commitments			$ 22.5		$ 22.1
Capital lease expired date			expire between 2021 and 2023
Capital lease term			24 months
Capital lease imputed interest rate	6.50%		6.50%
Lease remaining principal balance outstanding	$ 32.6		$ 32.6		33.7
Short term capital lease obligation	25.3		25.3		20.5
Long term capital lease obligation	7.3		7.3		13.1
Operating Leases, Rent Expense, Net	34.6	$ 30.9	68.9	$ 56.4
Due to vendor	6.4		6.4		6
Letters of credit outstanding amount	16.3		16.3		21.2
Surety bonds and other bank issued guarantees	105.7		105.7		99.1
Cash margin guarantees	5.2		5.2		5.8
Liability	6.7	6.7	6.7	6.7
Accounts Payable [Member]
Loss Contingencies [Line Items]
Due to vendor	1.5		1.5		0
Other Current Liabilities [Member]
Loss Contingencies [Line Items]
Due to vendor	3.5		3.5		3
Other Liabilities [Member]
Loss Contingencies [Line Items]
Due to vendor	1.5		1.5		3
Second Capital Lease [Member]
Loss Contingencies [Line Items]
Capital expenditure commitments	$ 0.6	0	$ 1	0
Capital lease term			36 months
Capital lease imputed interest rate	4.30%		4.30%
Egypt Equipment [Member]
Loss Contingencies [Line Items]
Capital expenditure commitments	$ 0.1	$ 0	$ 0.1	$ 0
Capital lease expired date			expire between 2020 and 2024
Lease remaining principal balance outstanding	3.3		$ 3.3		0
Short term capital lease obligation	1.7		1.7		0
Long term capital lease obligation	$ 1.6		$ 1.6		$ 0

EQUITY (Details Narrative)

EQUITY (Details Narrative) - $ / shares	1 Months Ended	6 Months Ended
	Feb. 28, 2019	Jun. 30, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ordinary shares outstanding		87,495,221	87,187,289
Preferred shares issued		0	0
Preferred shares outstanding		0	0
SAPESCO [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of ordinary shares issuance		2,237,000
Stock Purchase Agreement [Member] | NPS Holdings Limited [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of ordinary shares issuance	1,300,214
Public Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants		22,921,700
Ordinary share price per shares		$ 5.75
Warrants expire date		Jun. 6, 2023
Private Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants		12,618,680
Ordinary share price per shares		$ 5.75
Warrants expire date		Jun. 6, 2023

SCHEDULE OF A RECONCILIATION OF

SCHEDULE OF A RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING (Details) - $ / shares	3 Months Ended			6 Months Ended
	Jun. 30, 2020		Jun. 30, 2019	Jun. 30, 2020		Jun. 30, 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Weighted average ordinary shares outstanding, beginning balance	87,495,221		86,896,779
Change in shares, Shares to be issued in SAPESCO transaction	2,237,000	[1]		2,237,000	[2]
Weighted average ordinary shares outstanding, Shares to be issued in SAPESCO transaction	737,473	[1]		368,736	[2]
Weighted average ordinary shares outstanding, Ending balance	88,232,694		86,896,779	88,232,694		86,896,779
Issuance of earnings per share	$ 2,237,000			$ 2,237,000
Weighted average ordinary shares outstanding, beginning balance				87,187,289		85,562,769
Change in shares, Restricted stock vesting				307,932
Weighted average ordinary shares outstanding, Restricted stock vesting				175,961
Weighted average ordinary shares outstanding, Ending balance	87,731,986		86,895,285	87,731,986		86,895,285
Change in shares, Other						33,796
Weighted average ordinary shares outstanding, Other shares						32,302
Change in shares, NPS equity stock earn-out						1,300,214
Weighted average ordinary shares outstanding, NPS equity stock earn-out						1,300,214
Weighted average ordinary shares outstanding	88,232,694		86,896,779	87,731,986		86,895,285
Shares for use in allocation of participating earnings	89,396,451		88,496,979	88,895,743		88,495,485
Allocation Of Participating Earnings [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Weighted average ordinary shares outstanding	88,232,694			87,731,986		86,895,285
Non-vested, participating restricted shares	1,163,757		1,600,200	1,163,757		1,600,200
[1]	Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000
[2]	Contingently issuable shares are included in basic EPS only when there is no circumstance under which those shares would not be issued, as such 2,237,000

SCHEDULE OF BASIC AND DILUTED E

SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income		$ 10,536	$ 11,356	$ 21,903	$ 24,530
Less dividends to: Ordinary Shares
Less dividends to: Non-vested participating shares
Total Undistributed Earnings		10,536	11,356	21,903	24,530
Allocation of undistributed earnings to Ordinary Shares		10,399	11,151	21,616	24,086
Allocation of undistributed earnings to Non-vested Shares		$ 137	$ 205	$ 287	$ 444
Ordinary Shares, Distributed Earnings
Ordinary Shares, Undistributed Earnings		0.12	0.13	0.25	0.28
Diluted EPS- Ordinary shares		$ 0.12	$ 0.13	$ 0.25	$ 0.28
Undistributed & distributed earnings to ordinary shareholders, As reported - basic		$ 10,399	$ 11,151	$ 21,616	$ 24,086
Add-back : Ordinary shares, As reported - basic		88,232,694	86,896,779	87,731,986	86,865,285
Add-back : Undistributed & distributed earnings to ordinary shareholders, Undistributed earnings allocated to non-vested shareholders		$ 137	$ 205	$ 287	$ 444
Add-back : Ordinary shares, Undistributed earnings allocated to non-vested shareholders
Add-back : Undistributed & distributed earnings to ordinary shareholders, 12,618,680 Private Warrants @ $5.75 per half share (anti-dilutive)	[1]
Add-back : Ordinary shares, 12,618,680 Private Warrants @ $5.75 per half share (anti-dilutive)	[1]
Add-back : Undistributed & distributed earnings to ordinary shareholders, 22,921,700 Public Warrants @ $5.75 per half share (anti-dilutive)	[1]
Add-back : Ordinary shares, 22,921,700 Public Warrants @ $5.75 per half share (anti-dilutive)	[1]
Less : Undistributed & distributed earnings to ordinary shareholders, Undistributed earnings reallocated to non-vested shareholders		$ (137)	$ (205)	$ (287)	$ (444)
Add-back : Ordinary shares, Undistributed earnings reallocated to non-vested shareholders
Diluted EPS - Ordinary shares		$ 10,399	$ 11,151	$ 21,616	$ 24,086
Diluted EPS - Ordinary shares		88,232,694	86,896,779	87,731,986	86,895,285
Diluted EPS- Ordinary shares		$ 0.12	$ 0.13	$ 0.25	$ 0.28
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount				1,080,905
Private Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of warrants		12,618,680	12,618,680	12,618,680	12,618,680
Warrants, price per share		$ 5.75	$ 5.75	$ 5.75	$ 5.75
Public Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of warrants		22,921,700	22,921,700	22,921,700	22,921,700
Warrants, price per share		$ 5.75	$ 5.75	$ 5.75	$ 5.75
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount				17,770,190	17,770,190
[1]	Non-participating warrants that could be converted into as many as 17,770,190 1,080,905

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Effective statutory rate, description			In the British Virgin Islands, the statutory rate is effectively 0% as tax is not applied on extra territorial activity.
Effective tax rate	21.00%	28.00%	20.00%	23.00%
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax statutory rate			12.00%
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax statutory rate			35.00%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Rental income to be paid on leases	$ 34,600	$ 30,900	$ 68,900	$ 56,400
Liabilities	752,659		752,659		$ 635,892
Prime Business Solutions LLC [Member]
Related Party Transaction [Line Items]
Maintenance fees payable	400		400		400
Nine Energy Service, Inc. [Member] | Coiled Tubing Equipment [Member]
Related Party Transaction [Line Items]
Purchased of propety plant and equipment	300	0	1,400
Nine Energy Service, Inc. [Member] | Products and Rentals [Member]
Related Party Transaction [Line Items]
Purchased of propety plant and equipment				0
Nine Energy Service, Inc. [Member] | Coiled Tubing Equipment, Products and Services [Member]
Related Party Transaction [Line Items]
Liabilities	5,300		5,300		6,800
Basin Holdings US LLC [Member]
Related Party Transaction [Line Items]
Purchased of propety plant and equipment	20	0	450	0
Liabilities	100		100		0
Mubbadrah Group Entities [Member]
Related Party Transaction [Line Items]
Rental income to be paid on leases	40	100	100	100
Due from related party	$ 600		$ 600		$ 600
Percentage of ownership	17.00%		17.00%
Heavy Equipment Manufacturing Trading LLC [Member] | GES [Member]
Related Party Transaction [Line Items]
Services charges	$ 20	40	$ 40	50
Business Solutions LLC [Member] | Prime Business Solutions LLC [Member]
Related Party Transaction [Line Items]
Percentage of ownership	100.00%		100.00%
Administrative service fee	$ 200	$ 0	$ 800	$ 0

SCHEDULE OF SEGMENT REPORTING,

SCHEDULE OF SEGMENT REPORTING, INFORMATION ON REVENUES AND LONG-LIVED ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue from External Customer [Line Items]
Total revenue	$ 203,249	$ 159,899	$ 402,548	$ 311,603
Total long-lived assets	458,161		458,161		$ 419,307
Total operating income	17,858	21,995	36,373	42,103
Production Services [Member]
Revenue from External Customer [Line Items]
Total revenue	139,034	95,358	272,224	187,471
Total long-lived assets	308,746		308,746		290,765
Total operating income	20,217	23,192	41,545	44,514
Drilling and Evaluation Services [Member]
Revenue from External Customer [Line Items]
Total revenue	64,215	64,541	130,324	124,132
Total long-lived assets	137,193		137,193		115,241
Total operating income	8,334	9,413	16,202	14,892
Total Reportable Segments [Member]
Revenue from External Customer [Line Items]
Total long-lived assets	445,939		445,939		406,006
Total operating income	28,551	32,605	57,747	59,406
Unallocated Assets [Member]
Revenue from External Customer [Line Items]
Total long-lived assets	12,222		12,222		$ 13,301
Unallocated Expenses [Member]
Revenue from External Customer [Line Items]
Total operating income	$ (10,693)	$ (10,610)	$ (21,374)	$ (17,303)

SCHEDULE OF REVENUE FROM EXTERN

SCHEDULE OF REVENUE FROM EXTERNAL CUSTOMERS AND LONG-LIVED ASSETS, BY GEOGRAPHICAL AREAS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 203,249	$ 159,899	$ 402,548	$ 311,603
Total long-lived assets	458,161		458,161		$ 419,307
MENA [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	200,737	158,082	396,798	307,627
Total long-lived assets	449,029		449,029		409,139
Rest of World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	2,512	$ 1,817	5,750	$ 3,976
Total long-lived assets	$ 9,132		$ 9,132		$ 10,168

REPORTABLE SEGMENTS (Details Na

REPORTABLE SEGMENTS (Details Narrative)	6 Months Ended
	Jun. 30, 2020Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2