Weatherford International has announced an agreement to acquire NCS Multistage Holdings in a transaction valued at approximately $151 million, further strengthening its position in the well completions market.
Under the terms of the agreement, NCS Multistage shareholders will receive Weatherford shares or a combination of Weatherford stock and cash. The acquisition is expected to expand Weatherford’s completion technology portfolio, particularly in unconventional oil and gas developments.
NCS Multistage specializes in completion optimization technologies, including multistage fracturing systems and reservoir enhancement solutions used throughout North America’s major shale basins. Weatherford stated that the acquisition will deepen its capabilities in the unconventional sector while providing customers with a broader suite of well completion technologies.
The company expects to generate at least $15 million in annual run-rate cost synergies within 18 months of closing.
The transaction reflects the ongoing consolidation trend in the oilfield services sector as companies seek to expand technology offerings, improve operational efficiencies, and provide more integrated solutions to operators focused on maximizing well performance and returns.
Author: phinds