Weatherford International ( NASDAQ: WFRD ) +1.4% pre-market Monday it was awarded a five-year contract exceeding $500M from Oman to deliver integrated drilling services in the Marmul and Grater Saqar fields, with operations expected to begin in the current quarter.
Weatherford ( WFRD ) said the award builds on ongoing collaborations with Oman, where the company will deliver at least 700 wells in the Marmul and Grater Saqar fields.
The company said the contracted work "will combine a suite of technologies to deliver holistic and innovative solutions that maximize drilling efficiency" at the Marmul and Grater Saqar fields.
Weatherford's ( WFRD ) decision to prioritize debt reduction and its exposure to international markets is praised by The Value Pendulum in an analysis published recently on Seeking Alpha .
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Weatherford wins $500M-plus integrated drilling services award from Oman