HOUSTON, Aug. 29, 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 an NCS patent, U.S. Patent No. 10,465,445, is valid and infringed by TCO AS’s (“TCO”) TDP-PO casing flotation device. The jury awarded NCS approximately $1.9 million in past damages for infringement of the patent from late 2019.
“We have secured another unanimous jury verdict protecting our AirLock® casing buoyancy system technology from infringement,” 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 TCO to recognize the value of our patented innovation.”
Mr. Nipper continued, “NCS’s portfolio of over 100 issued patents is the result of more than a decade of innovation and continuous improvement by NCS employees and considerable financial investment. We are grateful that a jury of our peers has once again affirmed those efforts by upholding the validity of the patent-in-suit. While our preference is to protect our intellectual property rights through resolution outside of court, we will continue to enforce our rights through the court system if they are not respected. This jury verdict reinforces our continuing drive to deliver innovative technologies that bring enhanced efficiency and value to our customers.”
NCS was represented by Blank Rome LLP, led by Andy Fletcher, Domingo Llagostera, Russell Wong and Megan Wood.
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 construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins 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.