Weatherford Awarded Managed Pressure Drilling Contract for Woodside Energy’s Trion Deepwater Development
Rhea-AI Summary
Weatherford (NASDAQ: WFRD) has secured a significant multi-year contract to provide Managed Pressure Drilling (MPD) services for Woodside Energy's Trion deepwater project in Mexico. The contract initially covers 8 wells with potential expansion to 24 wells.
Weatherford will deploy its Victus™ intelligent MPD system, featuring algorithm-driven pressure control, real-time downhole data automation, and the industry's first field-proven deepwater riser system for floating rigs. The technology aims to enhance drilling safety, efficiency, and performance across multiple well phases.
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News Market Reaction
On the day this news was published, WFRD declined 0.22%, reflecting a mild negative market reaction. Our momentum scanner triggered 17 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $10M from the company's valuation, bringing the market cap to $4.32B at that time.
Data tracked by StockTitan Argus on the day of publication.
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,
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 Global Marketing & Communications
media@weatherford.com
FAQ
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