$80MM Equinor Deal Goes to Weatherford



$80MM Equinor Deal Goes to Weatherford
Weatherford has signed an $80 million frame agreement with Equinor.

Weatherford International plc reported Thursday that it has signed an $80 million liner-hanger frame agreement with Equinor ASA. Moreover, the oilfield services firm stated the deal is the largest such agreement in company history.

“Weatherford is the market leader for liner-hanger technology across the North Sea,” Mark Hopmann, president of Weatherford’s Completions unit, said in written statement. “Guided by a principle of flawless execution, we deploy our liner hangers for reduced operating expenses and superior performance reliability.”

According to Weatherford, the company originally developed liner-hanging systems for deployment in the North Sea. The firm explained the technology reduces the length of the last liner set in a well by several hundred meters, adding that it has been been applied in harsh environments such as ultra-deep, high-angle and extended-reach wellbores.

“Rather than extending a single casing string to the top of the wellbore, the technology enables suspending the liner below the ground,” Weatherford stated. “The savings are substantial versus a conventional casing run, especially considering the associated time and costs for cementing.”



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.