Weatherford (WFRD): Equinor Award Puts Offshore Backlog Conversion in Focus
Weatherford (WFRD) extended its partnership with Equinor, securing a two-year contract for offshore completions in Norway. The company reported Q2 2026 revenue of $1.105B, adjusted EBITDA of $223M, and a 20.2% margin, facing regional headwinds. Management highlighted offshore contract wins as a path to mix improvement and margin stabilization. The company generated $139M in adjusted free cash flow, with net leverage at 0.34x.


