Weatherford International plc (NASDAQ: WFRD) announced a proposal to redomesticate its parent company from Ireland to the United States, with Texas serving as the new legal domicile. The energy services company expects to complete the reorganization in the third quarter of 2026, pending shareholder and regulatory approvals.

The company has maintained its global operational headquarters in Houston for more than 20 years and has significant operations across Texas and the broader U.S. energy corridor.

"This transition continues the evolution of the New Weatherford and brings greater alignment between our operating profile and structure," said Girish Saligram, Weatherford's President and Chief Executive Officer.

Weatherford stated the redomestication aims to simplify corporate structure and reduce administrative costs, potentially expand its U.S. shareholder base and access to capital, and provide greater clarity in corporate governance. The company also cited improved ability to respond to tax law developments as a benefit.

The move is not expected to affect Weatherford's global operations, customer commitments, or regional activities. The company will continue serving customers worldwide with existing safety and performance standards.

Weatherford filed a preliminary proxy statement with the Securities and Exchange Commission on April 2, 2026, regarding the proposed redomestication. The company plans to file a definitive proxy statement that will be mailed to shareholders.

The company operates in approximately 75 countries with about 16,700 employees representing more than 105 nationalities across 305 operating locations. Weatherford provides energy services that integrate technologies with digitalization for oil and gas operations.