NCS Multistage Wins Patent Infringement Case Against Nine Energy Service

Rhea-AI Summary

NCS Multistage Holdings announced a significant legal victory against Nine Energy Service, as a jury found that Nine's BreakThru casing flotation device infringed on NCS's patent (U.S. Patent No. 10,465,445). The jury awarded NCS approximately $486,000 in damages, covering the infringement period from the patent issue date, November 5, 2019, to the trial conclusion. CEO Robert Nipper emphasized the importance of protecting innovations and the value of their technology portfolio, which comprises over 100 patents. This ruling highlights NCS's commitment to advancing efficiency and environmental responsibility in the oil and gas sector.

Positive

• Jury awarded NCS approximately $486,000 in damages for patent infringement.
• The ruling reinforces NCS's strong patent portfolio with over 100 issued patents.
• Affirms NCS's innovations and their value in the oil and gas industry.

Negative

• None.

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.

Contact:
Ryan Hummer
Chief Financial Officer
+1 281-453-2222
IR@ncsmultistage.com

FAQ

What was the outcome of the NCS Multistage Holdings vs. Nine Energy Service case?

A jury found Nine Energy Service's BreakThru device infringed on NCS's patent, awarding NCS approximately $486,000 in damages.

What patent was infringed in the NCS Multistage Holdings case?

The infringed patent is U.S. Patent No. 10,465,445, related to NCS's casing flotation technology.

When was the jury verdict announced for NCS Multistage Holdings?

The jury verdict was announced on January 21, 2022.

What is the stock symbol for NCS Multistage Holdings?

The stock symbol for NCS Multistage Holdings is NCSM.