Weatherford has reached an agreement to acquire NCS Multistage in a cash and stock deal, the companies announced on Monday.
With the acquisition, Weatherford aims to broaden its offerings in the well completions segment and increase its capabilities for developing unconventional resources. The companies estimate the combined entity will be able to generate cost synergies of at least USD 15 million within 18 months of closing.
“NCS Multistage’s technology is expected to enhance our ability to serve customers across the completion lifecycle, from well design through production optimisation and late-life interventions, while deepening our exposure to the growing unconventional resource market,” said Weatherford president and CEO Girish Saligram.
Under the terms of the transaction, NCS Multistage shareholders may elect to receive either Weatherford common stock or a combination of Weatherford common stock and cash. The consideration paid by Weatherford is expected to equal 0.463 shares of Weatherford stock for each NCS Multistage share on a blended basis, with up to 19.99% payable in cash.
The transaction has been approved by the boards of both companies and by NCS Multistage’s controlling shareholder, private equity firm Advent International. Subject to customary regulatory approvals and closing conditions, the deal is expected to close in H2 2026.
Weatherford is a global oilfield services company that provides drilling, well construction, production optimisation and digital technologies. NCS Multistage supplies engineered products and services for well construction and completion operations in both conventional and unconventional oil and natural gas developments, with activities in North America, the North Sea, the Middle East and Argentina.