Weatherford International plc

Overview

Weatherford is a global energy services company that provides equipment and services across the well lifecycle — from drilling and evaluation through well construction, completion, production, intervention, and responsible abandonment. The company also supports activities in new energy platforms. Weatherford operates in approximately 75 countries with about 305 operating locations, including manufacturing, research and development, service, and training facilities.

Reportable segments

• Drilling and Evaluation (DRE): Managed pressure drilling, drilling services, wireline, drilling fluids, and technology and engineering tools that support planning through reservoir management.
• Well Construction and Completions (WCC): Tubular running services, cementation products, completions tools (including safety valves, packers, downhole monitoring, flow control), liner hangers, and well services for conventional and advanced well construction and production phases.
• Production and Intervention (PRI): Intervention services and drilling tools, artificial lift systems, digital solutions and automation, subsea intervention, pressure pumping, and services focused on reservoir stimulation and production optimization across conventional, unconventional, offshore, deepwater, and mature fields.

Key product and service capabilities

• DRE: Managed pressure drilling, directional drilling, logging while drilling, measurement while drilling, rotary-steerable systems, downhole sensors, cementing, and drilling fluids.
• WCC: Tubular handling, cementation, completions tools (safety valves, packers, downhole monitoring, flow control), liner hangers, and cementation equipment.
• PRI: Intervention tools, artificial lift (rod lift, progressing cavity, gas lift, hydraulic lift, plunger lift, hybrid systems), digital software and automation, flow measurement and surveillance, subsea power transmission, and pressure pumping (including stimulation services in select markets).

Markets and customers

Customers include national oil companies, international and independent oil and gas companies, and new energy companies. Weatherford has instances of customer concentration; for example, late payments from a large Mexican customer increased accounts receivable concentration to about 24% of total as of December 31, 2025. That customer accounted for about 5% of Weatherford’s revenue in the trailing 12 months ended December 31, 2025.

Global footprint and facilities

Major service centers:

• Dhahran (Saudi Arabia), Abu Dhabi (UAE), Mina Abdulla (Kuwait), Nimr (Oman), Neuquen (Argentina), Al Khobar (Saudi Arabia), Odessa (Texas, USA), Doha (Qatar), Broussard (Louisiana, USA), Villavicencio (Colombia).

Research and technology centers:

• Houston (USA), Loughborough (UK), Mumbai (India).

Major manufacturing centers:

• Jiangsu (China), Abu Dhabi (UAE), Huntsville (Texas, USA), Vadodara (India).

People and culture

• Approximately 16,700 employees worldwide as of December 31, 2025.
• About 9% of employees are covered by union contracts.
• Programs that support the company culture include NextGen (field engineering graduate program) and Women of Weatherford (WOW) for diversity and professional development, under a One Weatherford approach.

Financial snapshot

• Russia-related activity:
  • Russia accounted for about 7% of total revenue in the year ended December 31, 2025 (versus about 5% in 2024 and 6% in 2023).
  • As of December 31, 2025, Russia operations included approximately $107 million in cash, $152 million in other current assets, $91 million in property, plant and equipment (net) and other non-current assets, and $80 million in liabilities.
  • For December 31, 2024, Russia operations included approximately $82 million in cash, $95 million in other current assets, $56 million in property, plant and equipment (net) and other non-current assets, and $45 million in liabilities.
• Debt and liquidity:
  • As of December 31, 2025, Weatherford held approximately $30 million of short-term debt and $1.5 billion of long-term debt.
• Dividends and shareholder returns:
  • Annual dividend program increased from $1.00 to $1.10 per share.
  • Share repurchase authorization of up to $500 million over three years (approved in 2024).
• Corporate structure and secured assets:
  • Weatherford is incorporated in Ireland, and a substantial portion of assets are located outside the United States.
  • A significant portion of assets are secured under credit facilities; the group maintains a Credit Agreement and senior notes with covenants that may affect liquidity and operations.
• Other operating details:
  • The company has an ongoing multi-year ERP system implementation to improve data collection, storage, and management; ERP projects can be complex and carry execution risk.
  • Weatherford relies on information systems for virtually all operations and identifies potential risk from cyber incidents and system disruptions.

Strategy and capital allocation

• Five strategic priorities:
  • Customer Experience enhancement
  • Creating the Future (R&D, digital and new energy capabilities)
  • Organizational Vitality (talent development and leadership)
  • Lean Operations (cost efficiency and productivity)
  • Financial Performance (through-cycle profitability and cash flow)
• Capital allocation framework:
  • Maintain through-cycle resilience via a strong balance sheet
  • Invest in technology and infrastructure to differentiate the portfolio
  • Pursue strategic and disciplined M&A aligned with portfolio strategy
  • Deliver shareholder returns through cash dividends and buybacks
• Growth and diversification focus:
  • Continue to serve traditional oil and gas markets while emphasizing mature fields, unconventionals, offshore, digitalization, automation, and potential new energy opportunities.