Operational and Financial Update for Quarter Ending September 30, 2025

01 Dec 2025 23:14 CET

Houston, United States: Varel Oil and Gas Inc. ("Varel" or the "Company") today
announced that it has published its Operational and Financial Update (unaudited)
for the quarter ending September 30, 2025. The report will also be 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.

More information:
Access the news on Oslo Bors NewsWeb site

661018_Q3 2025_Financial Packet_Varel Energy Solutions.pdf