Operational and Financial Update for Quarter Ending December 31, 2025

01 Mar 2026 00:36 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 December 31, 2025. The report will also be available on
https://www.varel.com/FinancialReportsandPresentations.

For more information, please contact:
John May,Interim CFO
jmay@varel.com
+1 (979) 285-5352

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:
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667192_Varel Oil and Gas Inc Q4 2025 Unaudited Interim Financials.pdf