Weatherford (WFRD) Secures Long-Term Deal to Provide Monitoring Systems for Romgaz Wells

Weatherford International plc (NASDAQ:WFRD) ranks among the top NASDAQ stocks with low P/E ratios. On September 23, Weatherford International plc (NASDAQ:WFRD) announced that it was awarded an eight-year contract by Romanian natural gas producer SNGN Romgaz S.A. to provide real-time monitoring capabilities for gas well operations.

The contract entails deploying wellsite monitoring systems throughout thousands of existing wells to capture and transmit dynamic metrics from wellheads. This is Romgaz’s first implementation of these kinds of monitoring services. Weatherford International plc (NASDAQ:WFRD) will employ cloud infrastructure to gather vital field data, giving Romgaz insight to support automated infrastructure operations and inform production choices.

Weatherford International plc (NASDAQ:WFRD) offers services and equipment to the natural gas and oil exploration and production industries. The company operates in three segments: Drilling and Evaluation (DRE), Well Construction and Completion (WCC), and Production and Intervention (PRI).

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Disclosure: None. This article is originally published at Insider Monkey.