Weatherford completes NCS Multistage acquisition
The transaction adds complementary technology and reservoir expertise to enhance customer solutions across the entire well lifecycle.
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Energy services company
weatherford.comLast updated
In short: Weatherford posted weaker Q2 earnings amid Middle East disruptions, completed the NCS acquisition, and won major contracts.
The transaction adds complementary technology and reservoir expertise to enhance customer solutions across the entire well lifecycle.
The companies set August 31 as the election deadline for consideration forms and anticipate closing on September 1 after board approvals.
Revenue decreased 4% sequentially to $1,105 million, net income fell 64% to $39 million, and it announced acquisition of NCS Multistage.
The meetings on September 3 will vote on moving from Ireland to Delaware, with annual cash savings estimated at $20-30 million.
Learn more Weatherford International (WFRD) has an average rating of overweight and mean price target of $119.45, according to analysts polled by FactSet.
Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced that shareholders have approved all proposals required to effect the Company's redomestication from Ireland...
As previously announced, NCS Multistage stockholders received either (i) 0.554 shares of Weatherford ordinary shares (the “Share Consideration”), or (ii) a combination of 0.239 Weatherford...
Weatherford upgraded to Buy at UBS, which anticipates a Middle East post-war recovery that drives a meaningful acceleration in remediation and intervention work.
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