The combined company has assumed the
'This is an exciting day for Expro and Frank's as we bring our companies together to create a new global leader with the breadth of capabilities and expertise across the well lifecycle to better support customers,' said
Expro presents an attractive investment opportunity due to its: Leading position in large addressable markets, balanced business mix and global operating footprint; Ability to deliver cost-effective, innovative solutions to an expanded customer base and enhance relationships with key International Oil Companies, National Oil Companies, Independent operators and service partners; Material exposure to an expected increase in production enhancement activity and an opportunity to capture significant cost and revenue synergies, which collectively provide scope for near-term revenue momentum, margin expansion and increased cash flow; Robust technology portfolio and innovation pipeline to capitalize on the digital transformation, facilitate the energy transition, and deliver on the promise of a lower carbon future, including through the company's commitment to achieve a 50% reduction in carbon intensity by 2030, and net zero CO2e emissions by 2050; Strong financial profile, which reduces risk and increases strategic flexibility, including the ability to selectively participate in smart, synergies-focused consolidation and Dedication to governance best practices, with all Board Committees comprising only independent directors, with no dual class shares, poison pill or supermajority provisions, as well as a commitment to regular Board refreshment and diversity.
ABOUT EXPRO
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.
Founded in 1938, Expro has more than 6,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
Forward-Looking Statements and Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this release include statements, estimates and projections regarding the Company's future business strategy and prospects for growth, cash flows and liquidity, financial strategy, budget, projections and operating results. These statements are based on certain assumptions made by the Company based on management's experience, expectations and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of performance. Although the Company believes the expectations reflected in its forward-looking statements are reasonable and are based on reasonable assumptions, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. Moreover, such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Such assumptions, risks and uncertainties include the outcome and results of the integration process associated with the Company's recent merger, the amount, nature and timing of capital expenditures, the availability and terms of capital, the level of activity in the oil and gas industry, volatility of oil and gas prices, unique risks associated with offshore operations, political, economic and regulatory uncertainties in international operations, the ability to develop new technologies and products, the ability to protect intellectual property rights, the ability to employ and retain skilled and qualified workers, the level of competition in the Company's industry, global or national health concerns, including health epidemics, including COVID-19 and any variants thereof, the possibility of a swift and material decline in global crude oil demand and crude oil prices for an uncertain period of time, the length of time it will take for
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