Weatherford International plc

Weatherford International plc announced it will host a conference call on Wednesday, July 22, 2026, to discuss its second quarter results for the period ended June 30, 2026. The call is scheduled for 8:30 a.m. Eastern Time. Prior to the call, the company will issue a press release with results and upload presentation slides to its investor relations website. A replay of the conference call will be available until August 05, 2026.

Weatherford International plc shareholders rejected the proposed redomestication from Ireland to Texas at a Special Court-Convened Meeting and Annual General Meeting. While the proposal received over 60% support, it failed to meet the requisite 75% threshold. The company stated that redomestication remains a priority and intends to present an updated proposal to redomesticate to Delaware at a future meeting. Additionally, shareholders approved the Fifth Amended and Restated 2019 Equity Incentive Plan, increasing issuable shares by 565,000, elected all director nominees, ratified KPMG as auditor, and approved executive compensation.

Weatherford International plc announced the results of its shareholder meetings, where routine matters were approved. Shareholders voted on a proposed redomestication from Ireland to Texas, U.S. While over 60% of votes supported the proposals, they did not meet the higher 75% approval threshold required to pass. The company, encouraged by the majority support, plans to present an updated proposal in the coming weeks to redomicile to Delaware, U.S., at a future meeting.

Weatherford International plc is urging shareholders to approve its redomestication from Ireland to the U.S., citing expected annual cash savings of $20 million to $30 million starting in 2027. The company believes this move will enhance long-term shareholder value by simplifying its corporate structure, improving financial and operational flexibility, and easing M&A processes. Despite recommendations against it from certain proxy advisory firms, Weatherford's management and board strongly advocate for the proposal, emphasizing its track record of shareholder value creation.

Weatherford International plc announced it entered into an Agreement and Plan of Merger with NCS Multistage Holdings, Inc. on May 31, 2026. Weatherford's indirect wholly owned subsidiary, Trinity Bell Sub, Inc., will merge with NCS Multistage, which will survive as a wholly owned subsidiary of Weatherford. NCS Multistage stockholders can elect to receive Weatherford ordinary shares or a mix of shares and cash, subject to proration. The merger is expected to close in the third quarter of 2026, pending regulatory approvals.

Weatherford International plc has been awarded a deepwater integrated completions contract by Esso Exploration & Production Nigeria Ltd., an ExxonMobil affiliate, for offshore Nigeria. The contract falls within Weatherford’s Well Construction and Completions portfolio and involves providing integrated upper and lower completions solutions. The focus is on supporting safety, reliability, well integrity, and operational efficiency over the lifecycle of the well, with equipment configured globally and supported locally in Nigeria.

Weatherford International plc announced the release of its 2025 Sustainability Report, showcasing continued progress and the impact of its sustainability efforts across operations. President and CEO Girish Saligram highlighted sustainability as a crucial factor in how the company operates, innovates, and delivers value to customers, reinforcing their commitment to long-term performance and shaping the industry's future. The report is accessible on the company's website.

Weatherford International plc announced it has been awarded two significant contracts with Constellation Oil Services to support offshore operations in Brazil. The first contract, for well intervention services on the UDW semisubmersible Gold Star, commenced in March 2026 and is expected to run through December 2028. The second, an independent award for Managed Pressure Drilling technology on the UDW drillship Brava Star, will begin in the first quarter of 2027 and extend through December 2030. These multi-year agreements reinforce Weatherford's position as a trusted partner and strengthen its presence in Brazil's deepwater market.

Weatherford International plc announced it has been awarded multiple managed pressure drilling (MPD) contracts and a global aftermarket agreement with Noble Corporation. These awards include the delivery of two deepwater MPD systems for Noble's Guyana operations, expected before year-end, and an upgrade on a third-party MPD system for deployment to Nigeria in Q3. The global aftermarket agreement will provide standardized lifecycle support, parts, and services for MPD systems across Noble's fleet, reinforcing Weatherford's leadership in MPD technology and lifecycle support.

Weatherford International plc reported its first-quarter 2026 financial results, showing a decline in total revenue. Revenue decreased by 3.4% to $1,152 million from $1,193 million in the prior year's quarter. Both services and products segments contributed to this decline, while total costs and expenses also saw a reduction.