1. WFRD awarded $147 million contract by Petrobras for Tubular Running Services. 2. Contract underscores WFRD's leadership in TRS technologies and operational safety. 3. Innovative systems to enhance efficiency and reliability in drilling operations. 4. Strong historical partnership with Petrobras enhances future collaboration. 5. CEO highlights commitment to safety and efficient operations.
The contract size and duration indicate strong revenue stability for WFRD. Past contracts have historically resulted in increased stock value due to anticipated revenue growth.
The contract strengthens WFRD's position in the market and highlights its technological advancements, crucial for investors.
The three-year contract provides significant long-term revenue assurance. Previous long-term contracts with Petrobras have solidified investor confidence in WFRD's strategic position.
HOUSTON, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ:WFRD) ("Weatherford" or the "Company") today announced it has been awarded a three-year, $147 million contract by Petróleo Brasileiro S.A. ("Petrobras") to deliver Tubular Running Services (TRS) in Brazil. The award, which followed an open tender, underscores Weatherford's leadership in TRS technologies to advance safe, efficient, and reliable drilling operations.
Under the scope of contract, Weatherford will deploy several of its industry-leading technologies, including Vero™, an Auto Make-up and Auto Evaluation system, delivering unmatched connection integrity and data-driven assurance; the Multi Slip System, which enables running of mixed casing strings without the need to change slips along with the ability to pass-through large diameter assemblies into the well without removing spider slip system; the Flush Joint Elevator, which eliminates the need for lift plugs, enhancing both safety and efficiency in tubular handling; and StringGuard™, an autonomous dropped string prevention delivering improved operational safety.
Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "This award shows the strength of our Tubular Running Services portfolio. We are proud to continue supporting Petrobras with innovative technologies and highly skilled teams that deliver safer, more efficient, and more reliable operations."
Weatherford has supported Petrobras operations for more than a decade bringing innovative technologies, local expertise, and a strong commitment to safety and performance. This new award further strengthens the collaboration between the two companies and reinforces Weatherford's role as a technology leader in tubular running solutions.
About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 17,300 team members representing more than 110 nationalities and 310 operating locations. Visit weatherford.com for more information and connect with us on social media.
For Investors:
Luke Lemoine
Weatherford Investor Relations
+1 713-836-7777
investor.relations@weatherford.com
For Media:
Kelley Hughes
Weatherford Corporate Communications
media@weatherford.com
