Publication of Consolidated Financial Statements for 2024

01 May 2025 02:28 CEST

Houston, United States: Varel Oil and Gas Inc. ("Varel" or the "Company") today
announced that it has published its Board of Directors Report and Consolidated
Financial Statements for the year ended December 31, 2024. The reports are
available on https://www.varel.com/FinancialReportsandPresentations.


For more information, please contact:
Witland LeBlanc, CFO
wleblanc@varel.com
+1 (713) 306-8691


About Varel:

Varel is a manufacturer of consumable drilling, cementing, and completion
products for the oil and gas industry. Varel offers solutions that enable
customers to drill, complete, and produce wells efficiently, safely, and in a
cost-effective manner. Headquartered in Houston, USA, Varel operates over 1.2
million square feet of low-cost manufacturing facilities strategically located
in Mexico, India, and Saudi Arabia to serve key markets globally with fast
response times. Varel's offered products include both (i) a diverse product
portfolio of highly engineered comprehensive drilling, cement and equipment
packages across the wellbore construction, including well drilling, well
installation and well completions, containing a full suite of components needed
for a newbuild or reactivated drilling rig, and (ii) individual or grouped
components of specific products that facilitate customers in maintaining and
upgrading their existing fleet.

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