Under terms of deal, Weatherford will pay $900 million in cash and 28 million shares of its common stock for the assets. The cash portion of the consideration is payable in Canadian dollars.
Precision's Energy Services division is a global provider of cased-hole and open-hole wireline services, drilling and evaluation services and production services.
According to Weatherford, the deal will broaden its open-hole wireline and directional capabilities substantially.
The
