(Reuters) – Oilfield services provider Weatherford International said on Monday it has agreed to acquire energy technology firm NCS Multistage Holdings in a cash-and-stock deal.
On a blended basis, Weatherford will pay the equivalent of 0.463 of its shares for each NCS share, with roughly 20% of the consideration in cash.
Based on Reuters calculations, the deal values NCS at about $126 million, or $48 per share, representing a premium of about 13% to its last close.
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- Amid increasingly demanding drilling conditions, oilfield services companies have been looking to expand their technology portfolios, build capabilities in more complex and unconventional wells and improve efficiency.
- Last year, Baker Hughes had agreed to buy Chart Industries for $13.6 billion in an all-cash deal, including debt.
- NCS shareholders can elect to receive either 0.554 Weatherford shares for each NCS share, or a combination of 0.239 Weatherford shares and a cash amount equal in value to 0.137 shares.
- NCS Multistage provides technologies to improve oil and gas well completions and performance, particularly in more complex operating conditions.
- “The acquisition of NCS Multistage is a natural complement to our completions strategy and enhances the application fit of our well construction products portfolio,” said Weatherford CEO Girish Saligram.
- The transaction has been approved by the boards of directors of both companies and is expected to close in the second half of 2026.
- Until the transaction closes, Weatherford and NCS Multistage will continue to operate as independent companies.
Reporting by Varun Sahay in Bengaluru; Editing by Vijay Kishore
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