Weatherford secures a multi-year contract for Managed Pressure Drilling services on Mexico's Trion deepwater oil project, enhancing operational efficiency.
Quiver AI Summary
Weatherford International plc has been awarded a significant multi-year contract to provide Managed Pressure Drilling (MPD) services for Woodside Petróleo's Trion project, a deepwater oil production initiative in Mexico. The contract entails initial services for 8 wells, with the potential to expand to 24. Utilizing Weatherford's advanced Victus™ MPD system, the project aims to enhance drilling safety, efficiency, and performance through features like algorithm-driven pressure control and real-time data analysis. Weatherford's CEO, Girish Saligram, expressed pride in supporting this historic project, highlighting its importance to Mexico's energy sector and the company's commitment to reliable offshore operations. The Trion project is situated in deepwater approximately 180 kilometers from the Tamaulipas coast and involves a joint venture between Woodside and PEMEX.
Potential Positives
- Weatherford has been awarded a significant multi-year contract for Managed Pressure Drilling services for the Trion project in Mexico, indicating strong business growth and enhanced market presence.
- The contract includes potential expansion from 8 initial wells to 24, showcasing anticipated project scale and potential for increased revenue.
- The deployment of Weatherford's advanced Victus™ intelligent MPD system highlights the company’s commitment to innovative technology and reinforces its market leadership in high-performance drilling services.
- This partnership with Woodside Energy positions Weatherford as a trusted provider in complex offshore operations, strengthening its reputation in the energy sector.
Potential Negatives
- While the contract award is significant, it may indicate an ongoing reliance on large projects such as Trion, which could pose risks if market conditions change or if the project encounters delays or issues.
- The press release lacks detailed financial implications of the contract, raising concerns about the potential profitability and return on investment from the project.
- Environmental and regulatory challenges in deepwater drilling are not addressed, which may affect the project's timeline and Weatherford's reputation if issues arise.
FAQ
What contract has Weatherford recently announced?
Weatherford announced a multi-year contract for Managed Pressure Drilling services on the Trion project in Mexico.
What is the Trion project about?
The Trion project is a deepwater oil production initiative in the Gulf of Mexico operated by Woodside Petróleo.
How many wells are included in the Weatherford contract?
The contract initially includes MPD services for 8 wells, with potential expansion to 24 wells.
What technology will Weatherford use for this project?
Weatherford will deploy its Victus™ intelligent MPD system, enhancing drilling safety and efficiency.
Who are the joint venture partners in the Trion project?
The Trion project is a joint venture between Woodside (60%) and Petróleos Mexicanos-PEMEX (40%).
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 10 times in the past 6 months. Of those trades, 2 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $WFRD stock by insiders over the last 6 months:
- SCOTT C WEATHERHOLT (EVP, GC & CCO) has made 0 purchases and 2 sales selling 44,505 shares for an estimated $2,945,051.
- DESMOND J MILLS (SVP & Chief Accounting Officer) has made 0 purchases and 2 sales selling 19,425 shares for an estimated $1,311,468.
- DEPINDER SANDHU (EVP, Global Product Lines) has made 0 purchases and 2 sales selling 14,000 shares for an estimated $929,740.
- ARUNAVA MITRA (EVP and CFO) has made 0 purchases and 2 sales selling 10,000 shares for an estimated $675,711.
- NEAL P GOLDMAN has made 2 purchases buying 12,000 shares for an estimated $504,528 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WFRD Hedge Fund Activity
We have seen 200 institutional investors add shares of $WFRD stock to their portfolio, and 171 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 2,218,978 shares (-50.4%) from their portfolio in Q1 2025, for an estimated $118,826,271
- CAPITAL RESEARCH GLOBAL INVESTORS removed 1,466,134 shares (-24.7%) from their portfolio in Q1 2025, for an estimated $78,511,475
- FMR LLC removed 1,462,414 shares (-40.2%) from their portfolio in Q1 2025, for an estimated $78,312,269
- PACER ADVISORS, INC. removed 1,290,244 shares (-65.0%) from their portfolio in Q1 2025, for an estimated $69,092,566
- PRICE T ROWE ASSOCIATES INC /MD/ removed 1,197,099 shares (-21.1%) from their portfolio in Q1 2025, for an estimated $64,104,651
- D. E. SHAW & CO., INC. added 952,967 shares (+2488.3%) to their portfolio in Q1 2025, for an estimated $51,031,382
- MILLENNIUM MANAGEMENT LLC added 894,636 shares (+429.2%) to their portfolio in Q1 2025, for an estimated $47,907,757
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$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:
- 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
- Benchmark issued a "Buy" rating on 02/07/2025
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:
- 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
- Kurt Hallead from Benchmark set a target price of $125.0 on 02/07/2025
Full Release
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, 60%) and Petróleos Mexicanos-PEMEX (40%).
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 Global Marketing & Communications
[email protected]
