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

Weatherford (NASDAQ: WFRD) was selected by Ventura Offshore to provide a complete managed pressure drilling (MPD) solution for the SSV Victoria rig in Brazil's Búzios Field on May 7, 2026.

Rhea-AI Summary

Weatherford (NASDAQ: WFRD) was selected by Ventura Offshore to provide a complete managed pressure drilling (MPD) solution for the SSV Victoria rig in Brazil's Búzios Field on May 7, 2026. Weatherford will deliver its G3 Integrated Riser Joint (IRJ), turnkey rig preparation, system integration, and a long-term aftermarket maintenance package. The OEM-led scope covers delivery, installation, and ongoing support, with global engineering from Weatherford’s Managed Pressure Wells Center of Excellence in Houston and local field teams in Brazil.

Argus May 7 session

-5.60% close to close Open Argus

Details

News Market Reaction – WFRD

On May 7, the day this news came out, WFRD closed 5.60% below the previous close.

Data tracked by StockTitan Argus for the May 7 session.

Historical Context

5 past events · Latest: May 05

5 events

1. May 05

   MPD contract awards

   24h Move

   -0.5%

   Multiple MPD system awards and global aftermarket deal with Noble.

2. Apr 21

   Q1 2026 earnings

   24h Move

   +2.1%

   Mixed quarter with revenue dip but higher net income and cash flow.

3. Apr 02

   Redomestication plan

   24h Move

   -0.4%

   Proposal to shift legal domicile from Ireland to Texas for simplicity.

4. Mar 23

   Earnings call notice

   24h Move

   +1.8%

   Announcement of schedule and access details for Q1 2026 call.

5. Feb 12

   Integrated contract win

   24h Move

   +0.7%

   Multi-year Integrated Completions contract for offshore Denmark work.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

managed pressure drilling, integrated riser joint, oem

3 terms

managed pressure drilling technical

"selected by Ventura Offshore Holding Ltd (“Ventura Offshore”) to provide a complete managed pressure drilling (“MPD”) solution"

A drilling technique that actively controls the pressure in the space around the drill bit to prevent uncontrolled fluid flows from underground and to keep the well stable as drilling goes deeper. Think of it like carefully adjusting the water level in a glass while dropping a pebble so the liquid never overflows; for investors, it reduces the risk of costly delays, accidents, or lost wells and can improve project timelines, safety records, and capital efficiency.

integrated riser joint technical

"Weatherford will deliver its G3 Integrated Riser Joint (“IRJ”) MPD system, along with turnkey rig preparation"

An integrated riser joint is a specialized length of piping used in offshore oil and gas systems that combines multiple components and functions into a single, preassembled section that connects the seabed wellhead to surface equipment. Think of it like a prefabricated, multi-tool pipe that reduces the number of separate connections, which can lower installation time, reduce leak and failure risk, and cut ongoing maintenance costs—factors that affect production reliability and capital and operating expenses important to investors.

oem technical

"The single, OEM‑led scope enables seamless execution from system delivery and installation"

OEM stands for Original Equipment Manufacturer, which is a company that produces parts or components used in the final products made by other companies. For investors, understanding OEMs is important because their performance can impact the supply chain and overall success of major industries, especially those relying on specialized parts. Think of OEMs as the suppliers that provide the building blocks for larger products, like the engine parts for a car.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 Weatherford
Weatherford 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 Lemoine
Weatherford Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Weatherford Corporate Communications, Marketing & Sustainability
media@weatherford.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What contract did Weatherford (WFRD) win from Ventura Offshore on May 7, 2026?

Weatherford won a contract to provide a complete MPD solution for the SSV Victoria rig. According to Weatherford, the scope includes the G3 IRJ system, turnkey rig preparation, system integration, and long-term aftermarket maintenance for operations in Búzios Field.

What equipment will Weatherford supply under the WFRD MPD contract in Brazil?

Weatherford will supply its G3 Integrated Riser Joint (IRJ) MPD system and related integration services. According to Weatherford, the award also covers rig preparation, installation, and a long-term aftermarket maintenance services package.

How will Weatherford support operations for the SSV Victoria under the WFRD contract?

Weatherford will provide OEM-led delivery, installation, and long-term operations support for the MPD system. According to Weatherford, global engineering comes from its Houston Center of Excellence and local teams will handle engineering, maintenance, and field support in Brazil.

What operational benefits does the WFRD MPD solution claim to offer for deepwater wells?

Weatherford says its MPD IRJ technology enhances safety, performance, and uptime in deepwater wells with tight pressure windows. According to Weatherford, the solution is widely deployed in Brazil and is supported by proven offshore experience and local teams.

Does the Weatherford (WFRD) award include long-term maintenance and aftermarket services?

Yes. The contract includes a long-term aftermarket maintenance services package alongside system delivery and installation. According to Weatherford, the aftermarket services are intended to support predictable costs, efficiency, and system reliability over the contract life.