Weatherford International plc, an Irish public limited company, together with its subsidiaries (“Weatherford,” the “Company,” “we,” “us” and “our”), is a leading global energy services company providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms.
−Removed: We conduct business in approximately 75 countries, answering the challenges of the energy industry with 330 operating locations including manufacturing, research and development, service, and training facilities.
+Added: We conduct business in approximately 75 countries, answering the challenges of the energy industry with approximately 305 operating locations including manufacturing, research and development, service, and training facilities.
Our operational performance is reviewed and managed across the life cycle of the well, and we report in three segments (1) Drilling and Evaluation, (2) Well Construction and Completions, and (3) Production and Intervention.
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Our customers’ objectives are continually evolving and are currently focused on disciplined capital and operational expenditures, generating investor and shareholder returns, reducing emissions, participating in the energy transition, and enhancing safety.
−Removed: Weatherford has aligned its technology development, capital spending and operations around these objectives and expanded its role as a market leading provider of solutions that assist our customers in addressing their key operational challenges, not just in conventional reservoirs but also in mature fields, unconventionals, offshore, and in digitalization and automation.
+Added: We have aligned our technology development, capital spending and operations around these objectives and expanded our role as a market leading provider of solutions that assist our customers in addressing their key operational challenges, not just in conventional reservoirs but also in mature fields, unconventionals, offshore, and in digitalization and automation.
Our focus is on the deployment of our five strategic priorities of:
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• Strategic and disciplined mergers and acquisitions that align with our portfolio strategy;
−Removed: • Shareholder returns program as introduced in 2024 with an expected annual dividend of $1 per share and a
−Removed: $500 million share repurchase authorization over three years.
+Added: • Shareholder returns program as introduced in 2024 with a $500 million share repurchase authorization over
+Added: Annual dividend program recently increased from $1.00 to $1.10 per share.
Weatherford International plc – 2025 Form 10-K | 2
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Drilling and Evaluation (“DRE”) offers a suite of services including managed pressure drilling, drilling services, wireline and drilling fluids.
−Removed: DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access evaluation and productivity.
+Added: DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access, formation evaluation and productivity.
Managed Pressure Drilling helps to manage wellbore pressures to optimize drilling performance.
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The primary offerings are tubular running services, cementation products, completions, liner hangers and well services.
−Removed: WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction phase.
+Added: WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction production phase.
Tubular Running Services provides equipment, tubular handling, tubular management and tubular connection services for the drilling, completions, and workover of various types of wells.
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Our cementation engineers analyze customer requirements and provide software enabled design input from pre-job planning to installation.
−Removed: Completions offer customers a comprehensive line of completion tools, such as safety valves, production packers, downhole reservoir monitoring, flow control, isolation packers, multistage fracturing systems and sand-control
+Added: Completions offer customers a comprehensive portfolio of completion tools, such as safety valves, production packers, downhole reservoir monitoring, flow control, isolation packers, multistage fracturing systems and sand-control
Weatherford International plc – 2025 Form 10-K | 3
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Well Services provides through tubing products and services which ensure consistent delivery of well solutions that extend the economic life of our customer's assets.
−Removed: Production and Intervention (“PRI”) offers production optimization technologies through our ability to design and deliver a complete production ecosystem ranging from boosting productivity to responsible well abandonment for our customers.
+Added: Production and Intervention (“PRI”) includes technologies that deliver a complete production ecosystem ranging from boosting productivity to responsible well abandonment for our customers.
The primary offerings are intervention services & drilling tools, artificial lift, digital solutions, sub-sea intervention and pressure pumping services in select markets.
−Removed: PRI utilizes a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs.
+Added: PRI utilizes a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and mature reservoirs.
Intervention Services & Drilling Tools provides re-entry, fishing and well abandonment services as well as patented downhole tools, tubular-handling equipment, pressure-control equipment and drill pipe and tubulars for various types of wells.
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Sub-Sea Intervention provides electrical and hydraulic power transmission to subsea equipment in order to facilitate workovers and abandonment in deep and ultra-deep-water operations in select markets.
−Removed: Pressure Pumping Services offers advanced chemistry-based solutions and associated pumping services for safe and effective production enhancement.
+Added: Pressure Pumping Services offers advanced engineered fluid chemistry products and solutions and associated pumping services for safe and effective production enhancement.
In select international markets, we provide pressure pumping and reservoir stimulation services, including acidizing, fracturing, cementing, and coiled-tubing intervention.
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Revenues in Russia were approximately 7% of our total revenue for the year ended December 31, 2025, and were approximately 5% of our total revenues for the year ended December 31, 2024 and 6% for the year ended December 31, 2023.
−Removed: As of December 31, 2024, our Russia operations included $82 million in cash, $95 million in other current assets, $56 million in property, plant and equipment and other non-current assets, and $45 million in liabilities.
−Removed: As of December 31, 2023, our Russia operations included $62 million in cash, $94 million in other current assets, $76 million in property, plant and equipment and other non-current assets, and $62 million in liabilities.
+Added: As of December 31, 2025, our Russia operations included $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.
+Added: As of December 31, 2024, our Russia operations included $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.
+Added: Our total revenues in Russia, in addition to our assets and liabilities in country, are subject to volatility based on foreign currency movements and may fluctuate accordingly.
We continue to closely monitor and evaluate the developments in Russia as well as any changes in international laws and sanctions.
−Removed: We believe that operational complexity will increase over time and therefore continually evaluate these potential impacts on our business.
+Added: We believe that operational complexity may continue to increase over time and therefore continually evaluate these potential impacts on our business.
As such, we continue to actively evaluate various options, strategies and contingencies with respect to our business in Russia, including, but not limited to:
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Among those obligations, are the current requirements imposed by the Texas Commission on Environmental Quality (“TCEQ”) at a former facility in Midland, Texas where we are performing a TCEQ-approved Remedial Action Plan (“RAP”) to address contaminated ground water.
−Removed: The performance of the RAP and related expenses are scheduled to be performed over a twenty to thirty-year period and, may cost as much as $11 million, recorded as an undiscounted obligation and have remained unchanged on the Consolidated Balance Sheets since December 31, 2022.
+Added: The performance of the RAP and related expenses are scheduled to be performed over a twenty to thirty-year period and may cost as much as $11 million, recorded as an undiscounted obligation, with balances of $10 million and $11 million as of December 31, 2025 and 2024, respectively, on the Consolidated Balance Sheets.
Human Capital Management
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We believe that ensuring we have the right talent in place is essential to delivering positive results for the business.
−Removed: We remain focused on developing our talent through training, competency, and mentoring, as well as attracting diverse and qualified individuals who will bring fresh perspectives and skill sets to the team.
−Removed: Through role-specific competency-based training and leadership development programs, we seek to expand our employees’ skill sets and regularly reinforce important topics that align with our Core Values and strategic priorities.
+Added: We remain focused on developing our talent through training, competency, and mentoring, as well as attracting qualified individuals who will bring fresh perspectives and skill sets to the team.
+Added: Through role-specific competency-based training and leadership development programs, we seek to expand our employees’ expertise and regularly reinforce important topics that align with our Core Values and strategic priorities.
Focus on Safety
−Removed: Weatherford is committed to the health, safety, and well-being of our employees, customers, and the communities in which we operate.
−Removed: We strive to be a company that is incident free, fulfills our commitments, and leaves the environment and communities we engage with in a better state than we found them.
−Removed: Our company values are built on the foundation of safety, and we recognize that a safe operation is also an efficient operation.
−Removed: To ensure we maintain this commitment, we have adopted the International Association of Oil & Gas Producers’ (“IOGP”) Life-Saving Rules and Start Work Checks, which guide our proactive approach to safety.
−Removed: These industry-standard rules are designed to improve human performance and raise awareness of the high risk activities most likely to result in injury or fatality.
−Removed: Our dedication to safety and service quality is embedded at every level of our organization.
−Removed: The Operational Excellence and Performance System (OEPS) is our integrated quality, health, safety, security, and environmental management system.
−Removed: OEPS not only meets international management system standards, such as ISO 45001, but also supports our employees in the field so that we deliver on customer commitments without compromising on quality, health, safety, security, or environmental performance.
−Removed: Additionally, we have safety programs aimed at educating employees on best practices, and our Stop Work Authority program empowers them to intervene if they observe or anticipate unsafe behaviors or conditions.
+Added: Weatherford upholds a strong commitment to the health, safety, and overall well-being of our employees, customers, and the communities where we operate.
+Added: We aim to foster an incident-free workplace, consistently honor our responsibilities, and ensure that the environments and communities we interact with are improved through our actions.
+Added: Our company values are deeply rooted in safety, recognizing that effective safety practices contribute to operational efficiency.
+Added: This commitment is reflected across all aspects of our organization.
+Added: Our integrated management system, the Operational Excellence and Performance System (“OEPS”), addresses quality, health, safety, security, and environmental standards, meeting requirements such as ISO 45001.
+Added: OEPS equips our employees in the field with the tools and support they need to fulfill customer expectations while maintaining high standards in every area.
+Added: We also offer educational programs on best safety practices, and empower our workforce through the Stop Work Authority program to take action whenever unsafe behaviors or conditions are identified, ensuring that safety and service quality remain central to our operations.
We believe in aligning our employees’ compensation with the positive performance of our Company and returns realized for our shareholders.
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We are committed to maintaining and fostering a culture grounded in the principles inherent in pay-for-performance over the short and long-term for our employees eligible to receive a bonus.
−Removed: Through this culture, we strive to attract, motivate, retain, and reward our employees for their work that contributes to
+Added: Through this culture, we strive to attract, motivate, retain, and reward our employees for their work that contributes to building our brand and to sustaining our success in the marketplace.
+Added: We believe our culture of aligning our compensation programs with our strategic priorities supports a cohesive drive towards value creation for all our stakeholders.
Weatherford International plc – 2025 Form 10-K | 6
Table of Contents Item 1 | Business
−Removed: building our brand and to sustaining our success in the marketplace.
−Removed: We believe our culture of aligning our compensation programs with our strategic priorities supports a cohesive drive towards value creation for all our stakeholders.
−Removed: Diversity, Equity and Inclusion
−Removed: We understand the importance of operating collaboratively and inclusively across all levels of our organization, embracing the full spectrum of diversity among our employees, and recognizing the strength and competitive advantages our differences afford us as a Company.
−Removed: Our Diversity, Equity, and Inclusion (“DE&I”) Program is a core element of our One Weatherford culture.
−Removed: Our DE&I efforts aim to provide learning, engagement, and philanthropic opportunities to help our people and communities flourish.
−Removed: The executive team and frontline employees champion our commitment to embedding our DE&I Program into our organization.
−Removed: In 2024, we continued to advance our program and awareness throughout the organization, including conducting celebrations across the Company that foster collaboration and meaningful conversations regarding DE&I.
−Removed: We trained our employees on unconscious bias and continued our focus on NextGen, our field engineering graduate program designed to accelerate the development of defined competencies and skillsets to prepare participants for future leadership positions, as well as our localization programs for select customers to develop local talent.
+Added: Company Culture
+Added: We operate in a highly collaborative, global organization, and our workplaces must therefore support effective execution, employee engagement, and long-term business performance.
+Added: Our approach emphasizes respect, collaboration, and the ability for employees at all levels to contribute effectively, leveraging a broad range of perspectives, experiences, and skills across the Company.
+Added: These principles are embedded in our One Weatherford culture and inform how we attract, develop, and retain talent.
+Added: We aim to provide learning, engagement, and philanthropic opportunities to help our people and communities flourish.
+Added: In 2025, we continued these efforts throughout the organization, including conducting celebrations across the Company that foster collaboration and meaningful conversations and connections.
+Added: We continued our focus on talent development programs, including NextGen, our field engineering graduate program, which accelerates the development of technical and leadership capabilities for future roles.
+Added: We also continued localization programs to develop local talent in support of customer operations.
In addition, we continued to expand participation in the Women of Weatherford (“WOW”), an employee resource group that seeks to engage, support, empower, and inspire women to foster professional growth and advancement across our regions and employee levels, while also promoting volunteerism and giving back to our local communities.
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In addition to investing in our employees, we are committed to making a positive impact in the communities in which we live and work.
−Removed: Across the globe, our employees give back to organizations who need support in terms of donated items, volunteered time, and financial giving.
−Removed: For example, our team in Canada participates in an annual radiothon to support a local hospital and provides meals to over 900 unhoused and food insecure individuals.
−Removed: Our teams across the Latin America and Europe and Africa regions participate in activities to raise support for breast cancer awareness.
−Removed: Our teams across Asia, the Middle East and North Africa regions donate time and resources to support children in need.
−Removed: In the United States, we continue to raise funds and awareness to find a cure for Multiple Sclerosis (“MS”) through the MS Society and through our annual Weatherford Walks event, we raised approximately $500,000 benefiting a number of local not-for-profit organizations.
+Added: Across our global operations, employees support community organizations through a range of activities, including volunteering time, donating goods, and providing financial contributions.
+Added: These efforts focus on causes aligned with community needs, such as health and wellness, education, and support for vulnerable populations.
+Added: Our community engagement initiatives are led locally and reflect the priorities of the regions in which we operate, reinforcing our commitment to responsible corporate citizenship and positive social impact.
Employee Statistics
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Some of our operations are subject to union contracts and these contracts cover approximately 9% of our employees.
+Added: Weatherford International plc – 2025 Form 10-K | 7
+Added: Table of Contents Item 1 | Business
Executive Officers of Weatherford
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Saligram 54 President and Chief Executive Officer of Weatherford International plc since October 2020
−Removed: Senior Vice President and Chief Operating Officer of Exterran Corporation from August 2018 to September 2020
−Removed: Arunava Mitra 52 Executive Vice President and Chief Financial Officer of Weatherford International plc, since January 2023
−Removed: Executive Vice President and Chief Financial Officer of Mitsubishi Power Americas Inc.
−Removed: from October 2021 to December 2022
−Removed: Executive Vice President and Chief Financial Officer of Mitsubishi Hitachi Power Systems of Americas Inc.
−Removed: from October 2014 to October 2021
−Removed: Weatherholt (a)
+Added: 44 Executive Vice President and Chief Financial Officer of Weatherford International plc, since April 2025
+Added: Vice President of Finance and Strategy for the Global Olefins and Polyolefins segment at LyondellBasell from November 2022 to April 2025
+Added: Vice President and Treasurer at LyondellBasell beginning in February 2020
48 Executive Vice President, General Counsel, and Chief Compliance Officer of Weatherford International plc, since July 2020
−Removed: Senior Vice President and General Counsel of Arena Energy, L.P., from September 2019 to July 2020
−Removed: Weatherford International plc – 2024 Form 10-K | 7
−Removed: Table of Contents Item 1 | Business
−Removed: Executive Vice President, General Counsel, and Corporate Secretary at Midstates Petroleum Company, Inc., from February 2015 to August 2019
57 Executive Vice President, Global Field Operations of Weatherford International plc, since January 2024
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Senior Vice President, Strategic Planning & Solutions of Baker Hughes Co, from October 2019 to May 2021
−Removed: Vice President, Marketing, Strategy & Solutions of Baker Hughes Co, from August 2017 to October 2019
−Removed: 51 Executive Vice President and Chief Commercial Officer of Weatherford International plc, since January 2024
−Removed: Senior Vice President and Chief Commercial Officer of Weatherford International plc, from August 2021 to December 2023
−Removed: Vice President of Sales, Tenaris, from July 2015 to January 2021
−Removed: Depinder Sandhu
−Removed: 49 Executive Vice President, Global Product Lines of Weatherford International plc, since January 2024
−Removed: Senior Vice President, Global Product Lines of Weatherford International plc, from December 2021 to December 2023
−Removed: Senior Director, Corporate Strategy of Weatherford International plc, from April 2021 to November 2021
−Removed: Vice President, Business Development & Strategy of Weatherford International plc, from July 2020 to March 2021
−Removed: Director, Service Delivery of Weatherford International plc, from November 2017 to May 2020
−Removed: Kristin Ruzicka
−Removed: 42 Executive Vice President, Chief Human Resources Officer & Sustainability at Weatherford since January 2025
−Removed: Senior Vice President, Chief Human Resources Officer & Sustainability at Weatherford from December 2023 to January 2025
−Removed: Senior Vice President, Human Resources Operations and Sustainability at Weatherford from April 2023 to December 2023
−Removed: Senior Vice President, Quality, Service Excellence and Sustainability at Weatherford from September 2021 to April 2023
−Removed: Senior Vice President, Quality and Service Excellence at Weatherford from June 2021 to September 2021
−Removed: Vice President and General Manager Reliability Services at Allied Reliability from October 2018 to June 2021
−Removed: 52 Executive Vice President, Customer Delivery of Weatherford International plc since August 2024
−Removed: Independent business advisor from April 2023 to July 2024
−Removed: Executive Vice President of Operations, Otis Worldwide Corporation, from April 2020 to March 2023
−Removed: Senior Vice President of Operations, United Technology Corporation, from June 2019 to April 2020
Mills 53 Senior Vice President and Chief Accounting Officer of Weatherford International plc, since November 2021 (Interim Chief Financial Officer August 2022 to January 2023)
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Segment Compliance Manager, Construction Industries Segment, Caterpillar Inc., from July 2020 to March 2021
−Removed: Division Chief Financial Officer, Integrated Components and Solutions Division, Caterpillar Inc., from September 2018 to July 2020
−Removed: Weatherford International plc – 2024 Form 10-K | 8
−Removed: Table of Contents Item 1 | Business
−Removed: (a) Prior to joining Weatherford, Mr.
−Removed: Weatherholt was the General Counsel at Midstates Petroleum Company, Inc.
−Removed: when the company filed for bankruptcy protection on May 1, 2016 in the Federal Bankruptcy Court for the Southern District of Texas (Houston Division) and served the company before, during and after its bankruptcy.
−Removed: In addition, he was the Senior Vice President & General Counsel of Arena Energy, LP, which filed for bankruptcy protection on August 20, 2020, in the Federal Bankruptcy Court for the Southern District of Texas (Houston Division) approximately 4 weeks after his departure from the company.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.