Rosneft Acquires Oil Field Services from Weatherford International
Rosneft President Igor Sechin and Vice President of Weatherford International plc. for Russia Lance Marklinger signed an agreement for the acquisition of Rosneft land drilling and workover assets of Weatherford in Russia and Venezuela. The agreement envisages the acquisition of 8 companies (part of the Weatherford group) involved in drilling …
Weatherford And Sinopec Oilfield Service Corporation To Form Joint Venture To Target China’s Unconventional Sector
Weatherford International Ltd., Sinopec Oilfield Service Corporation and Shengli Highland Petroleum Equipment Co., Ltd., today announced having entered into a joint venture agreement to form a new equity joint venture company in China. The joint venture will combine the complementary strengths of each of its parent companies to provide products and services within a collaborative framework …
Weatherford: Financial Figures and Results – Focus on Cash, Core and Cost
EPS of $0.13 (non-GAAP) improves 86% sequentially; Significant Progress on Cost Reduction and Divestitures; 2014 EPS Guidance Reaffirmed Weatherford International Ltd. reported net income before charges of $99 million, ($0.13 diluted earnings per share on a non-GAAP basis) on revenues of $3.60 billion for the first quarter of 2014. First Quarter 2014 Highlights Operating …
Weatherford: Board Approves Change Of Jurisdiction Of Incorporation From Switzerland To Ireland
Weatherford International Ltd. announced today that its Board of Directors has approved changing its place of incorporation from Switzerland to Ireland. Weatherford’s shareholders will be asked to approve the proposed change at an Extraordinary General Meeting of Shareholders expected to be held in June 2014. Bernard J. Duroc-Danner, Weatherford’s Chairman, …
Baker Hughes Purchases Weatherford’s Pipeline and Specialty Services Business For $250m USD
Weatherford International Ltd. and Baker Hughes Incorporated announce today that they have signed an agreement for the sale of Weatherford’s pipeline and specialty services business to a subsidiary of Baker Hughes for a total consideration of $250 million, including $241 million in cash and $9 million in retained working capital. …
Weatherford: Q4 and 2013 Results – Business Lines to be Sold
Remediates Material Weakness for Income Tax Accounting; Reduces Net Debt by $687 million and generates positive free cash flow of $298 million in the fourth quarter Weatherford International Ltd. reported net income of $53 million ($0.07 diluted earnings per share on a non-GAAP basis), before charges, on revenues of $3.74 …