HOUSTON, Jan. 24, 2022 (GLOBE NEWSWIRE) -- NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) announced that a jury in the U.S. District Court for the Western District of Texas, Waco Division has found that Nine Energy Service, Inc.’s (“Nine”) BreakThru casing flotation device infringes on an NCS patent, U.S. Patent No. 10,465,445. The jury awarded NCS approximately $486,000 in damages for infringement of the patent from the patent issue date, November 5, 2019, through the end of trial.
“We are very pleased with the unanimous jury verdict from last Friday,” said Robert Nipper, NCS’s Chief Executive Officer. “Our Airlock® casing buoyancy system pioneered a new way to float casing in the wellbore and the jury verdict requires Nine to recognize the value of our patent and innovation.”
Mr. Nipper continued, “NCS’s portfolio of over 100 issued patents is the result of more than a decade of hard work by NCS employees. The patent system, founded in the US constitution, provides a framework for us to protect the inventions we develop for our customers, allowing them to save time and money, and to improve the environmental footprint of their operations. The ruling further validates that our legal system will support its innovators and protect them from those that seek to gain by infringing on the intellectual property rights of others. This reinforces our continued drive to deliver new technologies that bring enhanced efficiency and value to our customers.”
NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well completions and field development strategies. NCS provides products and services to exploration and production companies for use in horizontal wells in unconventional oil and natural gas formations throughout North America and in selected international markets, including Argentina, China, the Middle East and the North Sea. NCS’s common stock is traded on the NASDAQ Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.
Chief Financial Officer
Source: NCS Multistage Holdings, Inc.