Weatherford Awarded Multi-Region Managed Pressure Drilling and Global Aftermarket Agreement with Noble
Weatherford (NASDAQ: WFRD) was awarded multiple managed pressure drilling (MPD) contracts and a global aftermarket agreement with Noble Corporation on May 5, 2026.
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Rhea-AI Summary
Weatherford (NASDAQ: WFRD) was awarded multiple managed pressure drilling (MPD) contracts and a global aftermarket agreement with Noble Corporation on May 5, 2026.
The awards include delivery of two deepwater MPD systems for Noble’s Guyana operations (delivery expected before year-end) and an upgraded third-party MPD system being configured in Houston for deployment to Nigeria in Q3. The global aftermarket deal covers standardized lifecycle support, parts, and services across Noble’s fleet.
Positive
- Awarded multiple MPD contracts and a global aftermarket agreement with Noble
- Delivery of two deepwater MPD systems for Guyana expected before year-end
- Global aftermarket agreement to provide standardized lifecycle support, parts, and services across Noble’s fleet
- Third-party MPD system being upgraded and configured at Weatherford’s MPD Center of Excellence in Houston for Q3 deployment to Nigeria
Negative
- Press release discloses no contract values or estimated revenue impact
- Delivery timelines (before year-end and Q3) create execution and scheduling timing risk for expected deployments
Details
News Market Reaction – WFRD
On May 5, the day this news came out, WFRD closed 0.47% below the previous close.
Data tracked by StockTitan Argus for the May 5 session.
Key Figures
- Current share price
- $109.12
- Pre-news trading level
- 52-week high
- $112.31
- 52-week trading range high
- 52-week low
- $42.57
- 52-week trading range low
- Market capitalization
- $7,875,104,601
- Pre-news equity value
- Deepwater MPD systems
- 2 systems
- To support Noble’s Guyana operations
- Third-party MPD system
- 1 system
- Upgrade and deployment to Nigeria
- Nigeria deployment timing
- Third quarter
- Expected deployment window
- Delivery timing Guyana MPD
- Before year-end
- Planned delivery of 2 deepwater MPD systems
Historical Context
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Mixed top-line but stronger net income, cash flow and shareholder returns.
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Proposal to move legal domicile to Texas to streamline structure.
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Announcement of timing and access details for Q1 2026 call.
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Multi-year integrated completions contract win in Denmark with TotalEnergies.
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Q4 profitability, strong cash generation and 10% dividend increase.
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 technical
aftermarket technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, May 05, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has been awarded multiple managed pressure drilling (“MPD”) contracts and a global aftermarket agreement with Noble Corporation (“Noble”), further strengthening the long-standing relationship between the two companies and reinforcing Weatherford’s leadership in MPD systems and lifecycle support.
The awards include the delivery of two deepwater managed pressure drilling systems to support Noble’s Guyana operations, with delivery expected before year-end. Weatherford is also executing an upgrade on a third-party MPD system that is being assembled and configured at the Company’s Managed Pressure Wells Center of Excellence in Houston with deployment to Nigeria expected in the third quarter. In addition, Weatherford and Noble have entered into a global aftermarket agreement covering MPD systems across Noble’s fleet, providing standardized lifecycle support, parts, and services to enhance operational reliability worldwide.
Girish Saligram, Weatherford’s President and Chief Executive Officer, commented, “These awards reflect both the strength of our partnership with Noble and the value our managed pressure drilling technology delivers in complex offshore environments. Our MPD systems are designed to provide precise pressure control, enhance safety, and improve drilling efficiency, and our global manufacturing and aftermarket capabilities ensure consistent performance throughout the asset lifecycle. We are proud to support Noble with technologies and services that help drive reliable execution across their global operations.”
Joey Kawaja, Noble’s Senior Vice President of Operations, commented, “Managed pressure drilling plays a critical role in enabling safe and efficient execution in some of the world’s most complex offshore environments. Weatherford has been a trusted partner to Noble for many years, and these awards reinforce our confidence in their MPD technology, operational expertise, and global support capabilities. The addition of new systems further strengthens our ability to deliver top-tier performance across our fleet and support our customers worldwide.”
Weatherford’s MPD solutions deliver precise wellbore pressure control to support drilling performance in complex and high-pressure environments while improving safety and reducing non-productive time. Combined with the Company’s global Centers of Excellence and aftermarket infrastructure, Weatherford provides customers with consistent quality, responsiveness, and long-term asset value.
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.
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
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