May 07, 2026 08:30 ET
        

        
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                Weathe...

May 07, 2026 08:30 ET
        

        
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                Weatherford International, LLC
            
                

        
    

    

    

    





        
HOUSTON, May  07, 2026  (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been selected by Ventura Offshore Holding Ltd (“Ventura Offshore”) to provide a complete managed pressure drilling (“MPD”) solution for the SSV Victoria offshore drilling rig in Brazil.  As part of the award, Weatherford will deliver its G3 Integrated Riser Joint (“IRJ”) MPD system, along with turnkey rig preparation, system integration, and a long‑term aftermarket maintenance services package for offshore operations in Brazil’s Búzios Field. The single, OEM‑led scope enables seamless execution from system delivery and installation through long‑term operation, while the aftermarket services support predictable costs, high efficiency, and system reliability over the life of the contract.  Weatherford’s MPD IRJ technology enhances safety, performance, and uptime in deepwater wells with tight pressure windows and is the most widely deployed MPD solution in Brazil, supported by proven offshore experience and strong local teams providing engineering, maintenance, and field support. Global engineering and configuration support is delivered through Weatherford’s Managed Pressure Wells Center of Excellence in Houston, Texas.  Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “We appreciate Ventura Offshore’s confidence in Weatherford and the opportunity to support the SSV Victoria as it prepares for offshore operations in Brazil. This award underscores our shared focus on reliable execution, leveraging our proven MPD experience in offshore Brazil and the strength of our local teams to deliver safe, efficient, and consistent performance alongside Ventura Offshore.”  Guilherme Coelho, CEO of Ventura Offshore, commented, “An integrated MPD solution is key to safe, predictable, and high-performance operations on SSV Victoria. Weatherford’s end-to-end scope and strong track record in Brazil align well with our focus on reducing interfaces and operational risk. We look forward to working together to enhance the operational capabilities of the SSV Victoria and deliver consistent results for our client.”  This award represents new work for Weatherford and reinforces the Company’s position as a trusted MPD partner in Brazil’s offshore market, leveraging proven technology, local expertise, and integrated execution capabilities to support complex deepwater operations.  About WeatherfordWeatherford is a global energy services company that helps customers drill smarter, complete wells more effectively, and maximize production across the entire well lifecycle. With a differentiated portfolio of market-leading solutions, integrated technologies, and a broad global customer footprint across six continents, we blend advanced engineering, digital intelligence, and world-class field expertise to reduce risk, improve performance, and maximize the value of customer assets. Together, we elevate every operation, delivering stronger wells, sharper decisions, and better energy for the world. Visit weatherford.com for more information and connect with us on social media.  About Ventura Offshore Holding Ltd.Ventura Offshore Holding Ltd. is a deep-water drilling contractor providing offshore drilling services to the oil and gas industry since 1998 in Brazil and worldwide. The Company owns and operates one drillship, DS Carolina, and two semisubmersible drilling rigs, SSV Victoria and SSV Catarina, and further manages one drillship, Atlantic Zonda. The drilling rigs are currently operating offshore Brazil and Indonesia. The Company is incorporated under the laws of Bermuda and was listed on Euronext Growth Oslo on June 5, 2024, under the ticker “VTURA.” Additional information about Ventura Offshore Holding can be found at https://ventura-offshore.com/en/a-ventura/  For Investors:Luke LemoineWeatherford Investor Relations+1 713-836-7777investor.relations@weatherford.com  For Media:Kelley HughesWeatherford Corporate Communications, Marketing & Sustainability media@weatherford.com

WFRD

Weatherford Awarded Managed Pressure Drilling Contract by Ventura Offshore for Operations in Brazil

Weatherford Gains Key MPD Contract in Brazil, Strengthening Market Position

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>May 07, 2026 08:30 ET
        

        
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                Weathe...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Weatherford has secured a crucial managed pressure drilling contract with Ventura Offshore for the SSV Victoria rig in Brazil. This award highlights Weatherford&#039;s technological expertise and local support, further solidifying its presence in Brazil&#039;s offshore drilling market and potentially enhancing revenue growth over the contract period.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Weatherford secures MPD contract with Ventura Offshore in Brazil.</li><li>G3 Integrated Riser Joint technology enhances safety and efficiency.</li><li>Contract includes integrated services, ensuring predictable costs.</li><li>Local expertise and support are key differentiators in winning bid.</li><li>Award strengthens Weatherford&#039;s position in Brazil&#039;s offshore drilling market.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Ventura Offshore Holding Ltd (VTURA)</strong>: Ventura Offshore is collaborating with WFRD for enhanced operational capabilities.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under Corporate Developments as it highlights a significant operational contract that can directly affect WFRD&#039;s revenue and market presence in Brazil.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Weatherford&#039;s new contract could potentially increase revenue stability and growth rates.</li><li>The successful execution of the contract may improve investor sentiment in WFRD.</li><li>Weatherford&#039;s advanced MPD technology usage could lead to market share gains in Brazil.</li><li>Long-term maintenance services may provide recurring revenue stream for Weatherford.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Contract awarded on May 7, 2026.</li><li>WFRD will provide G3 IRJ MPD system and aftermarket services.</li><li>Operational focus is on Brazil’s Búzios Field.</li><li>Weatherford established as a trusted MPD partner in Brazil.</li><li>Ventura Offshore operates multiple drilling rigs including SSV Victoria.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>WFRD is likely to see positive price momentum driven by this new contract.</p>
  </section>
</section>


<article>
    <h2>Weatherford Secures Managed Pressure Drilling Contract for Brazilian Operations</h2>
    <p>HOUSTON, May 07, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: <strong>WFRD</strong>) has been awarded a comprehensive managed pressure drilling (MPD) contract by Ventura Offshore Holding Ltd for operations involving the SSV Victoria offshore drilling rig in Brazil. This significant contract underscores Weatherford’s continued commitment to enhancing safety and performance in the offshore drilling sector.</p>

    <section>
        <h3>Overview of the Contract</h3>
        <p>The contract entails the provision of Weatherford's advanced G3 Integrated Riser Joint (IRJ) MPD system. It includes turnkey rig preparation, system integration, and a robust aftermarket maintenance services package specifically tailored for the Búzios Field operations in Brazil. This OEM-led approach guarantees seamless execution from initial system delivery and installation through to long-term operational support.</p>
        <ul>
            <li><strong>Enhanced Safety:</strong> Weatherford’s MPD technology is designed to improve safety during drilling operations.</li>
            <li><strong>Performance and Uptime:</strong> The solution enhances overall efficiency in deepwater wells, particularly those with tight pressure windows.</li>
            <li><strong>Local Expertise:</strong> The technology is supported by experienced local teams providing engineering and maintenance services.</li>
        </ul>
    </section>

    <section>
        <h3>Expert Insights</h3>
        <p>Girish Saligram, President and CEO of Weatherford, expressed gratitude for the contract, stating, “We appreciate Ventura Offshore’s confidence in Weatherford and the opportunity to support the SSV Victoria as it prepares for offshore operations in Brazil. This award highlights our shared focus on reliable execution and leverages our proven MPD experience in offshore Brazil.”</p>
        <p>Similarly, Guilherme Coelho, CEO of Ventura Offshore, commented, “An integrated MPD solution is vital for the safe, predictable, and high-performance operations on SSV Victoria. Weatherford’s end-to-end capabilities and strong track record in Brazil align perfectly with our aim to minimize operational risks and enhance performance.”</p>
    </section>

    <section>
        <h3>Strategic Implications for Weatherford</h3>
        <p>This contract represents a significant growth opportunity for Weatherford, reinforcing its reputation as a trusted MPD partner in Brazil's offshore drilling market. The company's proven technology and local expertise are key assets in supporting complex deepwater operations.</p>
        <p>This announcement further establishes <strong>WFRD</strong> as a leader in delivering innovative solutions that meet the evolving needs of the energy sector, particularly in challenging environments like deepwater drilling.</p>
    </section>

    <section>
        <h3>About Weatherford International</h3>
        <p>Weatherford International specializes in delivering energy services that optimize drilling and production across the well lifecycle. The company combines advanced engineering, digital intelligence, and field expertise to maximize value and improve operational performance worldwide.</p>
    </section>

    <section>
        <h3>About Ventura Offshore Holding Ltd.</h3>
        <p>Ventura Offshore, founded in 1998, is a deep-water drilling contractor in Brazil. The company operates one drillship and two semisubmersible rigs, including the SSV Victoria, and is committed to providing high-quality offshore drilling services.</p>
        <p>For more information, visit <a href="https://ventura-offshore.com/en/a-ventura/">Ventura Offshore's website</a>.</p>
    </section>
    
    <section>
        <h3>Contact Information</h3>
        <p>For investor inquiries, please contact:</p>
        <p>Luke Lemoine<br>
        Weatherford Investor Relations<br>
        +1 713-836-7777<br>
        investor.relations@weatherford.com</p>
        
        <p>For media inquiries, please contact:</p>
        <p>Kelley Hughes<br>
        Weatherford Corporate Communications, Marketing & Sustainability<br>
        media@weatherford.com</p>
    </section>
</article>

Weatherford has secured a crucial managed pressure drilling contract with Ventura Offshore for the SSV Victoria rig in Brazil. This award highlights Weatherford's technological expertise and local support, further solidifying its presence in Brazil's offshore drilling market and potentially enhancing revenue growth over the contract period.

Weatherford Awarded Managed Pressure Drilling Contract by Ventura Offshore for Operations in Brazil

AI Summary

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Market-Moving

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Companies Mentioned

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