Weatherford

Gazprom Neft and Weatherford today announce the signing of a strategic cooperation agreement that will enable technology collaboration through frequent knowledge and information sharing. The experts of Gazprom Neft and Weatherford will jointly explore opportunities to determine the right technology solutions for the development and production of the oil fields. …

Baker Hughes Incorporated and Weatherford International plc today announced that they have closed the previously announced purchase and sale of Weatherford’s pipeline and specialty services business. The acquisition provides Baker Hughes with an expanded range of pre-commissioning, deepwater and in-line inspection services worldwide. The addition of over 700 process and pipeline specialists to Baker …

Weatherford International plc has received notification of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 5,000,000 shares, or approximately 0.65 percent, of the outstanding ordinary shares of Weatherford at $21.15 per share.  TRC Capital’s offer is approximately 4.3% below Weatherford’s closing price of $22.10 on August 18, 2014, the day before the offer commenced. Weatherford does …

Weatherford International plc reported net income before charges of $186 million, ($0.24 diluted earnings per share on a non-GAAP basis) on revenues of $3.71 billion for the second quarter of 2014. Revenue increased 8% sequentially excluding the seasonal impact in Canada; the increase was 3% including Canada; Operating income margins improved 280 basis points sequentially to 14% …

Weatherford International plc  entered into agreements with Rosneft for the sale of the Company’s land drilling and workover operations in Russia and Venezuela. The consideration is $500 million in cash. The Russian rig operations include 61 land drilling crews and a fleet of workover rigs, essentially pulling units while the Venezuela operations include 6 land drilling rigs. The …

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 …

On the 14-16 October, the 5th biennial edition of SPE Russian Oil & Gas, Exploration and Production Technical Conference and Exhibition will be taking place at the All-Russian Exhibition Center in Moscow. The organisers are expecting a total attendance of over 3,500 technical professionals and academics, over 100 exhibiting companies will be present and more than …

Weatherford International Ltd., announced today that its shareholders have approved changing its place of incorporation from Switzerland to Ireland at the Extraordinary General Meeting of Shareholders held in Zug, Switzerland.  As previously disclosed by the SIX Swiss Exchange, trading in the shares of Weatherford International Ltd. on the SIX Swiss Exchange will be suspended as from and …

Russia is starting to develop its unconventional reserves with pilot projects and longer term plans in place. How do you see the current state of the unconventional sector in Russia and how quickly do you think full scale unconventional development in the region will take place? Weatherford: It is difficult …

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 …