GlobeNewswire·Apr 2, 2026, 4:34 PM ET

Weatherford Announces Proposal to Redomesticate to the United States, Establishing Texas as New Legal Domicile

WFRD

Weatherford International plc announced a proposal to redomesticate its parent company from Ireland to the United States, with Texas designated as the new legal home.
The redomestication is expected to be completed in the third quarter of 2026, subject to shareholder & other customary approvals.
Weatherford's global operational headquarters has been located in Houston for over two decades, maintaining a substantial presence across Texas & the U.S. energy corridor.
CEO Girish Saligram stated the transition aligns the company's structure with its operating profile to enhance clarity, efficiency, & innovation while prioritizing free cash generation.
Strategic benefits include simplifying the corporate structure, reducing administrative costs, accessing a larger U.S. shareholder base & capital, improving corporate governance stability, & increasing tax law agility.
The transaction will not impact the company's global footprint, customer commitments, or ongoing operations in other regions.
Weatherford filed a preliminary proxy statement with the SEC on April 2, 2026, regarding the proposed redomestication.
The company conducts business in approximately 75 countries, employs approximately 16,700 team members, & operates across 305 locations.
Forward-looking statements regarding the transaction timing, benefits, & future financial performance are included, with risks noted regarding regulatory approvals, costs, & potential operational disruptions.
Investors are urged to review the preliminary & definitive proxy statements filed with the SEC or available on Weatherford's website for complete information.