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Weatherford Awarded Eight-Year Real-Time Digital Wellsite Monitoring Contract by Romgaz

1. WFRD awarded eight-year contract by Romgaz for monitoring gas well operations. 2. Contract reflects Romgaz's commitment to digital transformation and automation. 3. WFRD technology enables real-time insights for optimized production operations. 4. Collaboration marks a significant first step for both companies in AI integration. 5. Continuous data from WFRD will enhance decision-making and intervention strategies.

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$67.3309/24 04:43 AM EDTLatest Updated
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FAQ

Why Bullish?

Successful contracts, especially with prominent companies, often lead to stock appreciation. Historical data shows contract wins can enhance investor confidence and stock yields.

How important is it?

The nature of the contract with a major European gas producer directly influences WFRD's revenue streams, which is significant for investors.

Why Long Term?

The eight-year duration of the contract suggests sustained revenue growth, positively influencing WFRD's long-term outlook.

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September 23, 2025 16:30 ET  | Source: Weatherford International, LLC HOUSTON, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been awarded an eight-year contract by SNGN Romgaz S.A., the largest natural gas producer and main supplier in Romania and the third largest gas producer in Europe, to deliver services for real-time monitoring and transmission of dynamic parameters from the wellheads of gas wells, improving production optimization through digital and AI-enabled insights. This award marks the first time Romgaz has sought such services, reflecting its commitment to advancing digital transformation and production automation. Under the agreement, Weatherford will partner with Romgaz to implement a wellsite monitoring campaign across thousands of existing wells. Leveraging cloud infrastructure, Weatherford technology will acquire critical data from field locations to provide Romgaz with key information for production decisions. This information will guide in-field, Weatherford-supplied automated infrastructure to deliver Romgaz’s goal of production optimization. Girish K. Saligram, President and Chief Executive Officer of Weatherford, commented, “We are proud to support Romgaz in their first deployment of real-time monitoring services. With our technology, expertise, and recent investments in Romania, Weatherford is well positioned to help Romgaz optimize production and build fields of the future with solutions that enable smarter and more reliable operations.” Razvan Popescu, Chief Executive Officer of Romgaz, added, “Partnering with Weatherford marks a significant step forward in Romgaz’s digital transformation journey. For the first time, we are implementing real-time wellsite monitoring technologies that will provide actionable insights and enhance the efficiency of our operations. This initiative aligns with our strategic objectives of innovation and operational excellence. We are confident that this collaboration with Weatherford represents a strategic first step in integrating AI-driven technologies into our operations and laying the foundation for a new era of intelligent transformation.” Weatherford’s well monitoring solutions provide operators with continuous, high-fidelity well data, enabling smarter decision-making and proactive intervention strategies. By implementing these systems, Romgaz will benefit from enhanced visibility of well conditions and the ability to optimize production throughout the contract term. About WeatherfordWeatherford 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 LemoineWeatherford Investor Relations+1 713-836-7777investor.relations@weatherford.com For Media:Kelley HughesWeatherford Global Marketing, Communications & Sustainability media@weatherford.com

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