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Expro Secures Contract With Woodside Energy for Trion Deepwater Project

1. Expro awarded three-year contract for Woodside's deepwater development in Mexico. 2. Contract signifies breakthrough for first deepwater oil production facility in Mexico. 3. Expro's technologies aim to optimize well performance and enhance operational reliability. 4. Partnership with Woodside strengthens Expro's position in the deepwater oil market. 5. Project expected to create local jobs and stimulate economic growth.

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Why Bullish?

This contract signals growth potential for Expro amidst increasing demand for deepwater services, similar to past contracts that significantly boosted revenue. Historical instances, like Schlumberger's major contract wins in offshore drilling, correlated with stock price rises.

How important is it?

The news reflects a significant contract that could enhance Expro's revenue streams, driving stock performance positively.

Why Long Term?

The project's duration (three years) allows for sustained revenue and market presence, akin to long-term contracts that have historically supported stable price growth in energy sector stocks.

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Expro to deliver advanced tubular running and cementing services for Woodside’s first ultra-deepwater development offshore Mexico. HOUSTON--(BUSINESS WIRE)--Expro (NYSE:XPRO) has been awarded a major three-year contract by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (Woodside Energy) in support of the Trion deepwater oil and gas development offshore Mexico. Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico’s first deepwater oil production facility - a major milestone in the region’s energy evolution. Woodside and Expro have a long-standing partnership, with Expro supporting well construction activities in Mexico during the exploration phase. This latest collaboration further strengthens their well-established presence in deepwater operations across the country. As part of the project, Woodside Energy will manage operations from its Tampico shore base and office, while Expro is actively establishing a new hub in the area, supporting local employment and contributing to the economic growth of the area. The contract enables Expro to deploy its differentiated well construction technologies, designed to offer a seamless solution from top drive to target depth. Services will include TRS casing, completion and drilling support, as well as the provision of casing accessories, cement heads, and Expro’s Skyhook® system. In addition to technical execution, Expro’s approach is aimed at optimizing well performance, driving cost-efficiencies, and enhancing operational reliability throughout the project lifecycle. Jeremy Angelle, Vice President of Well Construction said, “With our extensive track record and a reputation as a trusted provider of TRS solutions, we are proud to play a key role in this world-class development. This contract win reflects not only the strength of our technical capabilities and commercial offering but also our legacy of supporting Trion exploration wells through Frank’s TRS and VERSAFLOTM systems. This project represents an exciting opportunity to showcase our innovative technologies on a historic deepwater development, and we look forward to building a strong, long-term partnership with Woodside in Mexico.” Trion is a greenfield development located in the Perdido Fold Belt, approximately 180 km off Mexico’s coastline in the Gulf of Mexico, in water depths of around 2,500 meters. Representing the first deepwater oil production in Mexico, the project is a joint venture between Woodside Energy and Petróleos Mexicanos (PEMEX), with first oil targeted for 2028. Notes to editors Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the company considers to be best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions. With roots dating to 1938, Expro has more than 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries. For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success and safety of the Company’s tubular running and cementing services technologies, the Company’s environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.

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