Weatherford Wins Major Deepwater Contract with ExxonMobil in Nigeria
WFRD has more than doubled off its 52-week low of $42.75.
Summary
Weatherford International has been awarded a significant deepwater integrated completions contract by ExxonMobil for operations in Nigeria. This new business win with a major client like ExxonMobil is a strong positive for Weatherford, indicating future revenue and strengthening its market position in a key oil and gas region. This follows a trend of recent contract successes, including other significant awards for managed pressure drilling and subsea intervention services earlier in May.
At the time of this announcement, WFRD was trading at $109.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $8B. The 52-week trading range was $42.75 to $113.15. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.