Weatherford Wins Three "Best of the Year" World Oil Awards for Completions, Production and Digital Oilfield Technology Innovations

HOUSTON, Oct. 23, 2019 /PRNewswire/ -- Weatherford International plc (OTC-PINK:WFTIQ) was honored with three 2019 World Oil Awards for its industry-leading completions, production, and digital technologies during the annual awards ceremony held October 17, 2019, at the Houstonian Hotel in Houston. Separately, Weatherford was named one of Canada's safest oil and gas companies for the fifth time.

For its "Best of the Year" technology awards from World Oil, Weatherford was recognized for the following achievements:

• Best Completion Technology: TR1P^tm Single-Trip Completion System
  The world's first and only remote-activated, single-trip deepwater completion solution.
• Best Production Technology: Centrifugal Jet Pumps
  Pairing proven equipment with the world's first jet-lift intelligence, this technology drives jet pumps as a primary form of lift, meeting electric-submersible-pump (ESP) productivity and cutting OPEX to a small fraction of ESP costs.
• Best Digital Transformation Technology: ForeSite^® Edge
  Delivering Production 4.0 intelligence by autonomously optimizing oil and gas production, this next-generation artificial-lift automation technology provides increased production while reducing operating expense. 

The occasion marked the third high-profile industry award for the TR1P single-trip completion system, which previously won a 2019 OTC Spotlight on New Technology Award and a 2019 Meritorious Award for Engineering Innovation.

"Weatherford is committed to developing the most visionary oilfield technologies in the industry," said Karl Blanchard, Executive Vice President and Chief Operating Officer for Weatherford. "The World Oil Awards recognize the industry's best and brightest innovations and innovators. We are proud to bring our customers cutting-edge solutions that deliver greater value by enabling operators to produce more for less."

Weatherford Named One of Canada's Safest Oil and Gas Companies

Weatherford has been named one of Canada's safest oil and gas employers by Canadian Occupational Safety magazine for the fifth time. Weatherford was awarded the honor from among hundreds of Canadian companies, with citation being noted for the company's dedication to a safety culture that promotes the health and well-being of its employees. 

Weatherford was judged on a wide range of occupational health and safety elements, including employee training, OHS management systems, incident investigation, emergency preparedness and innovative health and safety initiatives.

"It is with great pride that we accept this award for the fifth time," said Frank Urquhart, North America Quality, Health, Safety and Environment Geozone Manager for Weatherford. "Weatherford has some of the most dedicated employees in the oil and gas industry. This award is testament to their commitment to the highest levels of safety and service quality every day." 

About Weatherford
Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in more than 80 countries and has a network of 620 locations, including manufacturing, service, research and development, and training facilities and employs more than 24,000 people. For more information, visit www.weatherford.com and connect with Weatherford on LinkedIn, Facebook, Twitter and YouTube.

Contact:

Christoph Bausch                                                        +1.713.836.4615
Executive Vice President and Chief Financial Officer

Karen David-Green                                                    +1.713.836.7430
Senior Vice President Stakeholder Engagement and Chief Marketing Officer

SOURCE Weatherford International plc