Weatherford to acquire NCS Multistage

Weatherford is set to enhance its well construction and unconventionals capabilities with an agreement to acquire NCS Multistage, a leading provider of highly engineered products and support services for well construction, well completion and field development

NCS Multistage, which is active in North America and selected global markets including the Middle East, brings solutions designed to enhance reliability and performance in complex well environments. The acquisition is expected to complement and enhance Weatherford’s portfolio by expanding well completions offerings while deepening Weatherford’s capabilities in the unconventional space, a growth area in the Middle East. Projects in the region include Aramco’s Jafurah unconventional gas development, the largest non-associated gas development in the Kingdom of Saudi Arabia, estimated to contain 229 trillion standard cubic feet of raw gas and 75bn bbl of condensate. The UAE also has promising unconventional gas resources and has been accelerating its unconventional gas developments including across the Ruwais Diyab field. ADNOC is expected to reach FID this year with TotalEnergies on an unconventional gas project.

The acquisition of NCS Multistage will also enable the provision of differentiated, technology-enabled solutions that help customers improve operational and production outcomes; and enhance growth prospects for NCS Multistage by leveraging Weatherford’s international footprint.

Girish Saligram, Weatherford’s president and chief executive officer, commented, “The acquisition of NCS Multistage is a natural complement to our completions strategy and enhances the application fit of our well construction products portfolio. 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. We expect to realise at least US$15mn in annual run-rate cost synergies over a period of 18 months. Additionally, we see a meaningful opportunity to create additional value by bringing this technology to our global customer base.”

Ryan Hummer, NCS Multistage’s chief executive officer, added, “This is a significant step for NCS Multistage that we believe positions our business—and the talented people who built it—for the next phase of growth as part of a leading global energy services company. This combination creates an opportunity for our products, technology, and people to reach a broader set of customers and markets faster than we could on our own, supported by Weatherford’s financial strength and international footprint, providing long-term opportunity and value for our stakeholders.”

The transaction is subject to regulatory approval and is expected to close in the second half of 2026.