Weatherford partners with AWS to enhance digital capabilities and innovation in the energy sector through cloud migration and modernized solutions.
Quiver AI Summary
Weatherford International plc has announced a partnership with Amazon Web Services (AWS) to enhance its digital capabilities in the energy sector by selecting AWS as its primary cloud provider. This collaboration will involve migrating and modernizing Weatherford's advanced software and hardware suite to AWS, including its Modern Edge Platform and the CygNet control system. The integration aims to allow customers to update their operations with minimal disruption and to develop next-generation technologies through an enhanced Unified Data Model for better data integration and operational efficiency. Weatherford's WFRD Software Launchpad will also benefit from this partnership, enabling customers to effectively manage multiple software solutions without data lock-in. Both companies emphasize the goal of driving innovation and operational efficiency in energy operations.
Potential Positives
- Weatherford has signed a significant agreement with Amazon Web Services (AWS), enhancing its digital capabilities and driving innovation in the energy sector.
- The partnership will enable Weatherford to migrate and modernize its software and hardware suite to AWS, improving operational efficiency for customers.
- This collaboration supports the development of next-generation technologies and enhances Weatherford's Unified Data Model, allowing for better integration and analysis of multi-asset data.
- The WFRD Software Launchpad will be enhanced, providing customers with greater control over data and access to a variety of applications without being locked into a single solution.
Potential Negatives
- Signing an agreement with AWS may indicate that Weatherford lacks sufficient internal infrastructure and resources to facilitate its digital transformation independently, potentially raising concerns about its technological capabilities.
- The announcement does not clarify how this partnership will directly benefit the company's financial performance, leaving investors unsure about its potential impact on earnings.
- Dependency on AWS for cloud services could expose Weatherford to risks associated with third-party reliance, including issues related to data security and service interruption.
FAQ
What is the recent agreement Weatherford made with AWS?
Weatherford signed an agreement with AWS to transform its digital capabilities and become more innovative in the energy sector.
How will Weatherford benefit from the AWS partnership?
The partnership will help Weatherford modernize its operations, reduce complexity, and enhance data-driven decision-making for customers.
What technologies are involved in Weatherford's collaboration with AWS?
Weatherford will leverage AWS for its Modern Edge Platform and Unified Data Model, integrating advanced software and hardware solutions.
What is the WFRD Software Launchpad?
The WFRD Software Launchpad is a platform that offers customers access to various Weatherford-developed applications while maintaining data control.
How many countries does Weatherford operate in?
Weatherford conducts business in approximately 75 countries and has a diverse workforce of around 18,000 team members.
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 11 times in the past 6 months. Of those trades, 2 have been purchases and 9 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.
- DAVID JOHN REED (EVP, Chief Commercial Officer) sold 4,762 shares for an estimated $346,006
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$WFRD Hedge Fund Activity
We have seen 185 institutional investors add shares of $WFRD stock to their portfolio, and 223 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRICE T ROWE ASSOCIATES INC /MD/ removed 1,750,599 shares (-23.6%) from their portfolio in Q4 2024, for an estimated $125,395,406
- 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
- JENNISON ASSOCIATES LLC removed 1,324,101 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $94,845,354
- PACER ADVISORS, INC. removed 1,290,244 shares (-65.0%) from their portfolio in Q1 2025, for an estimated $69,092,566
- BALYASNY ASSET MANAGEMENT L.P. removed 672,650 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $48,181,919
- CONGRESS ASSET MANAGEMENT CO removed 646,855 shares (-99.1%) from their portfolio in Q1 2025, for an estimated $34,639,085
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 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Raymond James issued a "Outperform" rating on 04/24/2025
To track analyst ratings and price targets for $WFRD, check out Quiver Quantitative's $WFRD forecast page.
Full Release
HOUSTON, May 13, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has signed an agreement with Amazon Web Services (“AWS”) that will transform Weatherford’s digital capabilities and help drive innovation in the energy sector.
As part of this collaboration, Weatherford selected AWS as its preferred cloud provider and will migrate and modernize its cutting-edge software and hardware suite to AWS. This includes the Company’s Modern Edge Platform, which integrates advanced software-enabled hardware with Weatherford’s world-class control system, CygNet. The solution is modular and seamlessly integrates with existing infrastructure, allowing customers to modernize their operations with minimal disruption.
With this agreement, AWS will also support the development of next-generation technologies, further enhancing Weatherford’s Unified Data Model. This solution allows customers to integrate, harmonize, and analyze multi-asset data within a scalable, API-compatible model, driving operational efficiency and enabling data-driven decision-making.
Additionally, the collaboration will enhance the WFRD Software Launchpad, a platform that provides customers with access to Weatherford-built and Weatherford-partnered applications. The Launchpad ensures that customers retain control over their data while seamlessly managing multiple software solutions without being locked into a single application.
Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "We are excited to work with AWS to deliver a comprehensive suite of innovative solutions that enable our customers to drive efficiency and innovation. This collaboration allows us to leverage AWS’s world-class cloud infrastructure to help our customers modernize their operations, reduce complexity, and achieve greater autonomy in their decision-making."
“AWS capabilities are accelerating Weatherford’s digital transformation and helping the company drive innovation in their digital solutions to meet customers’ needs,” said Howard Gefen, GM for Energy and Utilities at AWS. “This collaboration will enhance Weatherford’s ability to deliver its operational and petrotechnical solutions by leveraging scalable, hardware and software solutions that empower energy companies to optimize their operations and achieve sustainable growth in an increasingly complex landscape.”
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 18,000 team members representing more than 110 nationalities and 320 operating locations. Visit
weatherford.com
for more information and connect with us on social media.
Contacts
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
+1 713-836-7777
[email protected]
For Media:
Kelley Hughes
Senior Director, Communications & Employee Engagement
[email protected]
