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HOUSTON - Weatherford International plc (NASDAQ:WFRD), a $4.2 billion market cap energy services company with over $5.1 billion in annual revenue, has been awarded a multi-year contract to provide Managed Pressure Drilling (MPD) services for the Trion deepwater oil production project in Mexico, according to a press release statement issued Monday.
The contract, awarded by project operator Woodside Petróleo Operaciones de México, includes MPD services for an initial eight wells with potential expansion to 24 wells. Financial terms were not disclosed.
Weatherford will deploy its Victus intelligent MPD system for the project, which is designed to enhance drilling safety and efficiency through algorithm-driven pressure control and real-time downhole data capabilities.
The Trion project is located in approximately 2,500 meters of water in the Gulf of Mexico, about 180 kilometers east of Tamaulipas and 30 kilometers south of the US-Mexico maritime border. It is operated as a joint venture between Woodside (60%) and PEMEX (40%).
"We are proud to support Woodside Energy on this historic project," said Girish Saligram, President and CEO of Weatherford. "The Trion development represents a defining moment for Mexico’s energy sector."
Weatherford, which operates in approximately 75 countries with about 17,300 employees, specializes in energy services that integrate technologies with digitalization for oil and gas operations. InvestingPro analysis suggests the stock is currently undervalued, with multiple positive indicators including strong profitability and solid financial health. For detailed insights and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Weatherford International PLC reported impressive financial results for the second quarter of 2025. The company significantly exceeded earnings per share (EPS) forecasts, posting an EPS of $1.87 compared to the anticipated $0.98, reflecting a substantial surprise of 90.82%. Revenue also slightly outperformed expectations, reaching $1.2 billion against a forecast of $1.19 billion. These developments highlight Weatherford’s robust financial performance during this period. The positive earnings report has garnered attention from investors and analysts alike. Notably, the company’s stock experienced an increase following the announcement of these results. Investors and stakeholders are closely monitoring these developments as they assess Weatherford’s financial health and future prospects.
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