Weatherford International Acquires NCS Multistage in $151 Million Deal

Weatherford International, a major US oilfield services company, has agreed to acquire NCS Multistage, a New York-listed well optimisation specialist, in a deal valued at approximately $151 million, according to SeekingAlpha. The acquisition is structured so that NCS stockholders can choose to receive either Weatherford common stock or a combination of Weatherford common stock and cash. On a blended basis, this equates to roughly 0.463 shares of Weatherford common stock for each NCS share, with up to 19.99% of the consideration payable in cash.

Weatherford stated that NCS offers complementary technology to support the optimisation of oil and gas well completions and field development strategies. The acquisition is expected to boost Weatherford's offerings in the well completions segment and deepen its capabilities in the unconventionals space, while also providing a pathway to grow NCS's portfolio outside North America. Annual cost synergies are projected to be at least $15 million, to be realised within 18 months of closing, and the deal is expected to be immediately accretive to adjusted free cash flow per share.

Weatherford's CEO, Girish Saligram, described the acquisition as a natural complement to the company's completions strategy that enhances the application fit of its well construction products portfolio. NCS CEO Ryan Hummer noted that the transaction positions the business for the next phase of growth as part of a leading global energy services company. Both companies' boards have approved the transaction, as has the controlling stockholder of NCS. The transaction is expected to close in the second half of 2026.