Weatherford secures a $147 million contract with Petrobras for Tubular Running Services in Brazil over three years.
Quiver AI Summary
Weatherford International plc has been awarded a three-year contract worth $147 million by Petrobras to provide Tubular Running Services in Brazil. This contract highlights Weatherford's expertise in TRS technologies, which aim to enhance the safety, efficiency, and reliability of drilling operations. Among the advanced technologies being deployed are the Vero™ Auto Make-up system, the Multi Slip System for mixed casing strings, the Flush Joint Elevator for improved safety in tubular handling, and the StringGuard™ system for preventing dropped strings. Girish Saligram, the CEO of Weatherford, expressed pride in the company's capabilities and commitment to supporting Petrobras with innovative solutions. This new agreement strengthens the long-standing partnership between Weatherford and Petrobras, reaffirming Weatherford's status as a leader in tubular running technologies.
Potential Positives
- Weatherford has secured a significant three-year contract worth $147 million with Petrobras, reinforcing its position in the market.
- The contract highlights Weatherford's leadership in Tubular Running Services technologies, showcasing its commitment to advancing safe and efficient drilling operations.
- The deployment of multiple industry-leading technologies under this contract underscores Weatherford's continued innovation and focus on operational safety and efficiency.
- This new contract strengthens the long-standing collaboration between Weatherford and Petrobras, enhancing their partnership and Weatherford’s reputation as a technology leader in tubular running solutions.
Potential Negatives
- Announcement of a contract award may indicate that the company previously faced competitive pressures, necessitating a strong display of leadership in Tubular Running Services to maintain client relationships.
- The reliance on a single contract for $147 million may raise concerns about dependency on one client, potentially exposing the company to financial risks if future business with Petrobras were to decline.
FAQ
What is the value of the new contract awarded to Weatherford by Petrobras?
The new contract is valued at $147 million for a duration of three years.
What services will Weatherford provide under the Petrobras contract?
Weatherford will deliver Tubular Running Services (TRS) using innovative technologies for drilling operations.
Which technologies will Weatherford deploy in Brazil?
Weatherford will use Vero™, Multi Slip System, Flush Joint Elevator, and StringGuard™ technologies for TRS.
How long has Weatherford been supporting Petrobras?
Weatherford has supported Petrobras operations for over a decade with innovative technologies and local expertise.
What is the focus of Weatherford's energy services?
Weatherford focuses on integrating proven technologies and advanced digitalization for sustainable energy solutions and maximizing value.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WFRD Insider Trading Activity
$WFRD insiders have traded $WFRD stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $WFRD stock by insiders over the last 6 months:
- NEAL P GOLDMAN has made 2 purchases buying 12,000 shares for an estimated $504,528 and 0 sales.
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$WFRD Hedge Fund Activity
We have seen 197 institutional investors add shares of $WFRD stock to their portfolio, and 226 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BOSTON PARTNERS removed 2,243,076 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $112,849,153
- FMR LLC added 1,460,785 shares (+67.1%) to their portfolio in Q2 2025, for an estimated $73,492,093
- HOLOCENE ADVISORS, LP added 1,443,512 shares (+712.8%) to their portfolio in Q2 2025, for an estimated $72,623,088
- CAPITAL RESEARCH GLOBAL INVESTORS added 1,095,319 shares (+24.5%) to their portfolio in Q2 2025, for an estimated $55,105,498
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$WFRD Analyst Ratings
Wall Street analysts have issued reports on $WFRD in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Melius Research issued a "Buy" rating on 08/20/2025
- Piper Sandler issued a "Overweight" rating on 07/28/2025
- Barclays issued a "Overweight" rating on 07/24/2025
- Raymond James issued a "Outperform" rating on 07/24/2025
- Citigroup issued a "Buy" rating on 05/13/2025
To track analyst ratings and price targets for $WFRD, check out Quiver Quantitative's $WFRD forecast page.
$WFRD Price Targets
Multiple analysts have issued price targets for $WFRD recently. We have seen 5 analysts offer price targets for $WFRD in the last 6 months, with a median target of $73.0.
Here are some recent targets:
- James West from Melius Research set a target price of $108.0 on 08/20/2025
- Derek Podhaizer from Piper Sandler set a target price of $73.0 on 07/28/2025
- David Anderson from Barclays set a target price of $73.0 on 07/24/2025
- James Rollyson from Raymond James set a target price of $70.0 on 07/24/2025
- Scott Gruber from Citigroup set a target price of $70.0 on 05/13/2025
Full Release
HOUSTON, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has been awarded a three-year, $147 million contract by Petróleo Brasileiro S.A. (“Petrobras”) to deliver Tubular Running Services (TRS) in Brazil. The award, which followed an open tender, underscores Weatherford’s leadership in TRS technologies to advance safe, efficient, and reliable drilling operations.
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
[email protected]
For Media:
Kelley Hughes
Weatherford Corporate Communications
[email protected]
