Expro is an oilfield services company that provides specialized services to oil and gas exploration and production companies across the full life cycle of a well — from drilling and completion through production, intervention, and abandonment. Expro operates in over 50 countries with approximately 8,500 employees, focusing almost exclusively on offshore and international markets and deliberately avoiding U.S. land. Expro's four service lines are well construction (including tubular running services, cementing, and drilling tools), well flow management (well testing, flowback, and production measurement), subsea well access (systems for safe access to subsea wellheads), and well intervention and integrity (wireline, cased hole logging, and proprietary intervention tools). Customers are IOCs, NOCs, and independent E&P operators, with no single customer exceeding roughly 10% of revenue. Expro earns revenue by deploying equipment and personnel on customer wells, charging day rates or lump-sum fees. Activity levels on offshore floating rigs are the primary demand driver. Expro pursues growth through wallet share expansion (selling additional services to customers already on a rig), proprietary technology development, and bolt-on acquisitions — most recently Coretrax in 2024 — which Expro then deploys across its existing global footprint. MENA is Expro's fastest-growing and highest-margin region. Expro maintains a $2.5B backlog and targets returning at least one-third of annual free cash flow via share repurchases.
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