StockNews.AI
WFRD
StockNews.AI
22 days

Weatherford Awarded Managed Pressure Drilling Contract for Woodside Energy's Trion Deepwater Development

1. Weatherford awarded contract for MPD services on Trion project in Mexico. 2. Contract includes services for initial 8 wells, potential expansion to 24 wells. 3. The project strengthens Weatherford's market leadership in Managed Pressure Drilling. 4. Victus™ system will enhance safety, efficiency, and performance in drilling operations. 5. Trion project is a joint venture between Woodside and PEMEX in deepwater Gulf.

Mass Contract
-0.22%Current Return
VS
-0.26%S&P 500
$58.9707/28 04:36 PM EDTEvent Start
$58.8407/29 11:11 PM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bullish?

This contract significantly enhances WFRD’s revenue potential in offshore drilling, similar to past contracts which led to price increases due to enhanced market positioning.

How important is it?

The awarded contract is major for WFRD's growth strategy and secures its competitive edge in the industry.

Why Long Term?

The multi-year nature of the contract assures stable long-term revenue, similar to historical contracts that boosted investor confidence over extended periods.

Related Companies

WOODSPEMEX
July 28, 2025 16:30 ET  | Source: Weatherford International, LLC HOUSTON, July 28, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") today announced it has been awarded a significant contract to deliver Managed Pressure Drilling (MPD) services for the Trion project, a deepwater oil production project in Mexico operated by Woodside Petróleo Operaciones de México, S. de R.L. de C.V. The multi-year contract includes MPD services for an initial 8 wells with the potential to expand to 24 wells. The award reinforces Weatherford’s market leadership in high-performance MPD and expands its presence in Mexico’s offshore energy sector. As part of the project, Weatherford will deploy its Victus™ intelligent MPD system, a solution designed to enhance drilling safety, efficiency, and performance. Built on decades of global MPD experience, Victus™ features algorithm-driven pressure control, real-time downhole data for automated responses, and the industry’s first field-proven deepwater riser system for floating rigs. The system delivers safer, faster, and more consistent drilling while providing performance across multiple phases of the well. Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are proud to support Woodside Energy on this historic project. The Trion development represents a defining moment for Mexico’s energy sector, and Weatherford is honored to contribute with trusted MPD technologies that improve safety, efficiency, and well delivery. This award further strengthens our position as a trusted partner for complex offshore operations.” About the Trion Project The Trion project is located in deepwater (~2,500 meters) of the Gulf of Mexico, approximately 180 kilometers east of the coast of Tamaulipas and 30 kilometers south of the US-Mexico maritime border. Trion is a joint venture between Woodside Petróleo Operaciones de México, S. de R.L. de C.V. (operator, 60%) and Petróleos Mexicanos-PEMEX (40%). 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 media@weatherford.com

Related News