Weatherford International plc acquired Probe Technologies Holdings, Inc. from Turnbridge Capital, LLC.
February 05, 2024
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Weatherford International plc (NasdaqGS:WFRD) acquired Probe Technologies Holdings, Inc. from Turnbridge Capital, LLC on February 1, 2024. The aggregate consideration for the combined acquisitions is 0.844702 million ordinary shares and $6 million in cash, subject to customary adjustments. Subject to meeting certain earn-out terms Weatherford International will issue 0.030298 million ordinary shares and $12 million in cash. In a related transaction Weatherford International acquired ISI Holding Company, LLC.
Weatherford International plc (NasdaqGS:WFRD) completed the acquisition of Probe Technologies Holdings, Inc. from Turnbridge Capital, LLC on February 1, 2024. Michael Walraven, Alain Dermarkar, Scott Cohen, Todd Lowther of Jonathan Cheng of Shearman & Sterling LLP acted as legal advisor to Probe Technologies Holdings, Inc. and Turnbridge Capital, LLC.
Weatherford International plc is a global energy services company. It provides equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. It operates through three segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI). DRE offers a suite of services, including managed pressure drilling, drilling services, wireline, and drilling fluids. WCC offers products and services for well integrity assurance across the full life cycle of the well. It offers tubular running services, cementation products, completions, liner hangers, and well services. PRI offers production optimization technologies. Its offerings are intervention services and drilling tools, artificial lift, digital solutions, sub-sea intervention, and pressure pumping services.
WEATHERFORD INTERNATIONAL PLC 
