Recent Updates — WFRD
The High Court of Ireland has approved the Scheme of Arrangement, allowing Weatherford International plc to change its legal domicile from Ireland to Delaware. The company expects to complete the redomestication on November 13, 2026, subject to customary closing conditions. Upon completion, Weatherford International Corp, a new Delaware corporation, will become the publicly traded parent company. The transaction is expected to result in deferred tax assets valued between $250 million and $300 million, creating a positive non-cash adjustment to the fourth quarter 2026 income tax provision. Shares are expected to continue trading on Nasdaq under the WFRD ticker. Weatherford is a global energy services company that provides drilling, well completion, and production optimization solutions.
Weatherford International plc reported third-quarter revenue of $1.14 billion and adjusted EBITDA of $254 million, with net income rising to $120 million on a 10.5% margin. The company increased its full-year adjusted free cash flow guidance and announced the redemption of $236 million in senior notes due 2030. Additionally, shareholders approved the proposed redomestication from Ireland to Delaware, expected to generate annual savings of $20 million to $30 million starting in 2027. Weatherford is a global energy services company that provides drilling, completions, and production solutions.
Weatherford International plc issued a notice on October 20, 2026, to redeem all outstanding 8.625% Senior Notes due 2030 with an aggregate principal amount of $236 million. The notes will be redeemed at 100% of their principal amount plus accrued and unpaid interest through the redemption date of October 30, 2026. The company expects to fund this redemption using cash on hand. Weatherford International plc provides oilfield services and equipment.
On September 2, 2026, Desmond Mills resigned as Senior Vice President and Chief Accounting Officer at Weatherford International plc, effective October 16, 2026. Maximiliano Kricorian has been appointed to succeed him in the role, effective immediately upon Mr. Mills' departure. Mr. Kricorian is a Certified Public Accountant with over 13 years of service at Weatherford, most recently serving as Senior Vice President and Treasurer since January 2026. This leadership transition occurs within the oilfield services industry, where the company provides technology and equipment for drilling and well construction.
Weatherford International plc shareholders approved a scheme of arrangement to redomesticate the company from Ireland to the United States as a Delaware corporation. Voting results showed approximately 89.77% support at the Scheme Meeting and 89.70% at the Extraordinary General Meeting, with key resolutions including capital reduction and share cancellation passing overwhelmingly. The transaction requires sanction by the High Court of Ireland before closing, which is expected in the fourth quarter of 2026. Weatherford International plc operates in the oilfield services industry.