Weatherford gets Irish court approval to move legal domicile to Delaware

Weatherford International plc (WFRD) said Tuesday in a regulatory filing that the High Court of Ireland has approved its scheme of arrangement to change its legal domicile from Ireland to Delaware.

Shareholders voted to approve the change on Sept. 3, 2026. The company said in a press release issued the same day that it plans to complete the move on Nov. 13, 2026, subject to customary closing conditions.

Under the scheme, the company's ordinary shares would be cancelled, and shareholders would become shareholders of Weatherford International Corp., a Delaware corporation. Upon completion, that company will become the publicly traded parent of the Weatherford group.

The energy services company said the redomestication will not change its operations, management, business strategy or headquarters in Houston. Its shares are expected to keep trading on the Nasdaq Global Select Market under the ticker WFRD.

The company also said it initiated certain related restructuring activities at a subsidiary level. Those activities are being evaluated for their accounting and tax implications, the filing said.

The company expects to recognize deferred tax assets, which will result in a positive non-cash change to its income tax provision for the fourth quarter of 2026. It currently estimates that change at $250 million to $300 million.

The filing does not quantify the costs of the restructuring activities.