Weatherford International plc (NASDAQ: WFRD) announced that shareholders have approved all proposals required to redomesticate the company from Ireland to Delaware, including votes at both a Board-Convened Scheme Meeting and an Extraordinary General Meeting.

The company expects the redomestication to generate approximately $20 million to $30 million in annual cash savings beginning in 2027. Weatherford said the move is intended to simplify its organizational, statutory, and regulatory structure.

The transaction remains subject to customary closing conditions, including final approval by the Irish High Court. Weatherford expects the redomestication to become effective during the fourth quarter of 2026.

Girish Saligram, Weatherford's President and Chief Executive Officer, said, "By redomesticating to Delaware, we are establishing a more efficient corporate structure that better aligns with our operations, enhances financial flexibility, and supports our continued focus on delivering strong returns for shareholders."