Weatherford Announces Tubular Running Services Contract Award with Petrobras
Rhea-AI Summary
Weatherford (NASDAQ: WFRD) has secured a significant $147 million, three-year contract from Petrobras to provide Tubular Running Services (TRS) in Brazil. The contract was awarded through an open tender process.
The company will deploy several advanced technologies including Vero™ for connection integrity, Multi Slip System for mixed casing strings, Flush Joint Elevator for enhanced safety, and StringGuard™ for dropped string prevention. This award builds upon Weatherford's decade-long partnership with Petrobras and reinforces its position as a leader in tubular running solutions.
Positive
- Secured substantial $147 million contract with major oil company Petrobras
- Three-year contract duration provides steady revenue stream
- Deployment of multiple proprietary technologies demonstrates technological leadership
- Strengthens existing decade-long relationship with Petrobras
Negative
- None.
News Market Reaction – WFRD
On the day this news was published, WFRD declined 0.56%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has been awarded a three-year,
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
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