Weatherford International provides oilfield services and equipment to the global oil and gas industry. Its offerings cover the lifecycle of a well, from exploration and drilling to completion and production, using a range of tools, technologies, and field teams to support operators in locating, creating, and optimizing wells. The company differentiates itself through its long history, expansive global footprint, and a strategy built on growth through acquisitions to broaden its service capabilities, followed by a restructuring after bankruptcy to create a leaner, more adaptable business. Its goal is to help customers extract hydrocarbons efficiently and safely while navigating the changing energy market with a solid financial foundation.
Company Size
10,001+
Company Stage
IPO
Headquarters
Baar, Switzerland
Founded
1941
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"Petroleum Development Oman" signs contract to drill 274 wells in Marmul and the Greater Saqr area for 3 years Muscat, "Al-Watan": Petroleum Development Oman signed with "Weatherford" an integrated drilling services contract for three years, covering the drilling of 274 wells in Marmul and the Greater Saqr area (in small fields with the unified development model), in a step that supports Petroleum Development Oman's plans to increase production and enhance the efficiency of its operations. Under the contract, "Weatherford" will drill oil production wells and water injection wells, according to a phased implementation program that allows greater efficiency in completion and more accurate planning for drilling rigs and resources and their distribution across the targeted fields. The contract model is expected to achieve cost reductions estimated at about 20% compared with traditional pricing models, in addition to enhancing the ability to control costs and establishing clearer responsibility for implementation and results. Dr. Aflah bin Said Al-Hadhrami, Managing Director of Petroleum Development Oman, said: Our ability to develop production efficiently and responsibly is fundamental to realizing the maximum possible value from the Sultanate of Oman's hydrocarbon resources, noting that this agreement represents a new step toward achieving this ambition and consolidating production growth as one of the main pillars in the institutional transformation journey of the Sultanate of Oman led by the company. At the same time, we remain committed to enhancing local content by developing local capabilities, investing in Omani talent, and retaining as much value as possible within the Sultanate of Oman. For his part, Girish Saligram, CEO of "Weatherford", said: We are proud to continue our partnership with Petroleum Development Oman through the integrated project in Marmul and the fields of the Greater Saqr area, and to build on the high operational performance and execution efficiency achieved in these fields. The awarding of this contract embodies our shared commitment to operational excellence, innovation, and creating sustainable value. It also reflects Petroleum Development Oman's confidence in our ability to consistently deliver safe, reliable, and high-quality services. He added: Through this project, we will continue to contribute to achieving Petroleum Development Oman's goals of maximizing production efficiency and supporting sustainable field development, alongside building local capabilities, developing Omani talent, and expanding opportunities across the local value chain. "Weatherford" will remain committed to execution efficiency and maximizing the impact of added local value, contributing to supporting the energy sector in the Sultanate of Oman and supporting national development objectives. This agreement represents Petroleum Development Oman's commitment to cementing long-term partnerships with sector partners, combining commercial efficiency with adherence to the highest standards of health, safety, environment, and quality.
HOUSTON, Sept. 01, 2026 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced the completion of its previously announced acquisition of NCS Multistage Holdings, Inc. (“NCS Multistage”), strengthening Weatherford’s completions portfolio and expanding capabilities in reservoir diagnostics and well performance solutions.
Weatherford secures multiple oilfield services contracts in Oman, Kuwait. Weatherford International plc has secured multiple oilfield services contracts from major national oil companies in the GCC, including Petroleum Development Oman (PDO) and Kuwait Oil Company (KOC), covering integrated drilling services, annular casing packers, and electronic submersible pump (ESP) feed-through packers. The contract awards and operational updates were announced by Weatherford as part of the company's second-quarter 2026 results. In Oman, Petroleum Development Oman (PDO) has awarded Weatherford a three-year Integrated Drilling Services contract covering 247 wells in the Marmul field. The scope of work includes integrated drilling services to support both production and injection operations. The latest contract follows the successful completion of a previous 837-well contract awarded in 2022, further strengthening Weatherford's relationship with PDO and its involvement in drilling activities in Oman's key oil-producing assets. In Kuwait, Kuwait Oil Company (KOC) has awarded Weatherford two five-year contracts for the supply of specialized well completion equipment. The contracts cover the supply of Annular Casing Packers (ACP) for Triassic-Paleozoic High-Pressure High-Temperature (HPHT) wells, as well as the supply of Electronic Submersible Pump (ESP) feed-through packers for multiple wells. The Kuwait contracts will support KOC's well construction and completion activities by providing specialized completion equipment designed for challenging downhole conditions and applications. In Saudi Arabia, Weatherford completed the first qualification deployment of its ArrayPro(TM) technology with Saudi Aramco, validating a fully integrated production logging solution for horizontal wells. The system provided real-time data and reliable performance in demanding operating environments, supporting enhanced reservoir evaluation and production optimization. In the United Arab Emirates (UAE), Weatherford was recognized as "Best Liner Hanger Supplier and Services Provider" by a National Oil Company. The company's Liner Hanger Systems team completed more than 100 liner deployments across over 22,000 operational hours during the previous year, demonstrating its capabilities in supporting efficient well construction and improving schedule reliability. Weatherford also introduced its Rotaflex(TM) 1160 long-stroke pumping unit in the UAE as a fully integrated solution for challenging unconventional reservoirs. The system is designed for rigless operations and aims to maximize recovery, improve production performance, reduce operational complexity, and lower power consumption and emissions. Weatherford reported second-quarter 2026 revenue of $446 million from the Middle East, North Africa and Asia region, representing a 6% sequential decline, or $30 million, primarily due to lower activity amid heightened geopolitical tensions. The decline was partly offset by higher Cementation Products activity in Saudi Arabia. On a year-over-year basis, regional revenue decreased by $78 million, or 15%, primarily due to lower activity related to heightened geopolitical tensions, partly offset by increased Drilling Services activity in Kuwait. The latest contract awards in Oman and Kuwait, together with Weatherford's technology deployments and operational achievements across Saudi Arabia and the UAE, highlight the company's continued participation in major upstream oil and gas activities across the GCC.
Weatherford Q2 2026 free cash flow climbs 76% to $139 million as Iran conflict cuts Middle East revenue and NCS Multistage deal advances. Weatherford's Q2 2026 adjusted FCF rose 76% to $139M as revenue fell 8% on Iran conflict headwinds; NCS Multistage acquisition advances at $126M. Weatherford International (NASDAQ: WFRD) reported second-quarter 2026 revenue of $1.105 billion, above analyst consensus of $1.07 billion but down 8.0% from $1.200 billion in the year-ago quarter. Net income fell 71% year-over-year to $39 million, and adjusted earnings per share of $0.55 missed the Wall Street consensus of $0.93 by 41%. Adjusted EBITDA reached $223 million at a 20.2% margin, within one basis point of the prior quarter on a margin basis despite the revenue decline. Free cash flow nearly doubles as margin discipline holds. Adjusted free cash flow rose 76% year-over-year to $139 million, translating to a 12.6% free-cash-flow conversion rate on Q2 2026 revenue. By comparison, Q2 2025 adjusted free cash flow calculates to $79 million on $1.200 billion in revenue, a 6.6% conversion rate, based on the reported 76% growth figure. Operating cash flow climbed 37% year-over-year to $175 million, while capital expenditures fell 22% to $42 million. CEO Girish Saligram credited cost discipline for the cash performance, calling Q2 results "strong reliability and resilience" despite "significant Middle East disruption from the Iran conflict." Middle East and North America drive revenue declines. Weatherford's Middle East, North Africa, and Asia segment posted $446 million in Q2 revenue, down 15% year-over-year, as the Iran conflict disrupted regional drilling activity. North America contributed $205 million, also down 15% from the prior year, reflecting softer drilling activity and operator capital discipline in a lower natural gas price environment. Europe, Sub-Sahara Africa, and Russia rose 5% year-over-year to $257 million, the only geographic segment to gain year-over-year. Within product lines, Production and Intervention revenue climbed 7% sequentially to $316 million, with segment adjusted EBITDA up 30% on the same basis. NCS Multistage deal builds Completions depth in unconventional basins. Weatherford announced on June 1, 2026, a definitive agreement to acquire NCS Multistage Holdings (NASDAQ: NCSM) in a stock-and-cash transaction at $48 per share, implying a deal value of $126 million and a 13% premium to NCS's last closing price. NCS Multistage designs and manufactures multi-stage fracturing tools, sleeve completion systems, and fracture isolation equipment for horizontal wells in North American tight formations. Key NCS service areas include the Montney in British Columbia and Alberta, the Permian Basin, and the Bakken. The acquisition fills a product gap in Weatherford's Well Construction and Completions segment, which posted $433 million in Q2 2026 revenue but declined 5% year-over-year. Weatherford projects at least $15 million in annual cost synergies within 18 months of closing, with immediate accretion to adjusted free cash flow per share. Delaware redomestication and capital returns. Weatherford is pursuing a redomestication from Ireland to Delaware, projecting $20 to $30 million in annual cash savings beginning in 2027. Net leverage improved to 0.34 times adjusted EBITDA, down from 0.41 times in Q1 2026. The company paid $20 million in dividends and repurchased $16 million in shares during Q2 2026, bringing total H1 2026 shareholder returns to $66 million. A quarterly dividend of $0.275 per share is payable September 3, 2026. Sources and methodology. Oil Authority synthesis: Oil Authority Inc. derived the Q2 2025 adjusted free cash flow figure ($79 million) by dividing the Q2 2026 result of $139 million by 1.76, reflecting the reported 76% year-over-year growth. Oil Authority Inc. then calculated free-cash-flow conversion rates: 6.6% in Q2 2025 ($79M divided by $1,200M revenue) and 12.6% in Q2 2026 ($139M divided by $1,105M revenue), showing cash generation efficiency nearly doubled even as revenue contracted. Published by Oil Authority, edited by Adam Humphreys Submit a correction. Spotted a factual error? Free account required to submit a correction.
Weatherford International releases Q2 2026 financial results. Weatherford International plc reported adjusted earnings of $0. Financial news subscription Weatherford International plc reported adjusted earnings of $0. AlphaStreet Newsdesk powered by AlphaStreet Intelligence WFRD | EPS $0.55 vs $0.93 est (-40.9%) | Rev $1.10B | Net Income $39.0M Weatherford International plc reported adjusted earnings of $0.55 per share for the second quarter of 2026, missing the $0.93 consensus by 40.9% as the energy services provider grappled with softer demand across its global operations. Revenue totaled $1.10B for the quarter, down 8.0% from $1.20B in Q2 2025, reflecting headwinds in the oil and gas services sector. Q2 earnings results The company's Well Construction and Completions division led revenue generation with $433.0M, though the segment posted a 5.0% decline year-over-year. Net income reached $39.0M for the quarter as Weatherford navigated a challenging environment for drilling, completion, and production services amid shifting energy market dynamics. Despite the earnings shortfall, Wall Street maintains a largely positive outlook on the oilfield services company, with analyst consensus standing at 10 buy ratings, 3 hold ratings, and 0 sell ratings. The divergence between the company's quarterly performance and analyst sentiment suggests expectations for potential recovery as energy activity levels stabilize. Earnings per share A detailed analysis of Weatherford International plc's quarter follows shortly on AlphaStreet. This content is for informational purposes only and should not be considered investment advice. AlphaStreet Intelligence analyzes financial data using AI to deliver fast and accurate market information. Human editors verify content.