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, …
RPI: Horizontal Drilling in Russia
Horizontal drilling increased by 80% in both KMAD and East Siberia between 2007-2012. The contribution to incremental drilling was roughly the same in both regions. As a result, horizontal drilling is rising at a steady pace in Russia due to both the development of new fields in greenfield oil producing …
Technology Roundtable: Russia’s Drilling Contractors – EDC, Weatherford, Bashneft Drilling, Eriell Group, IDS and Nabors Russia
1. Could you please describe the capabilities of your rig fleet? Bashneft-Drilling: Our rig fleet is currently located in three oil producing provinces of Russia – the Urals-Volga region, the Khanty-Mansiisk Autonomous Okrug (KhMAO), and the Nenetsk Autonomous Okrug (NAO). Our rig fleet capabilities include: Urals-Volga region Drilling rigs with …
Avo Photonics and Weatherford Develop Downhole Multi-Channel Photometer
Custom opto-electronic design and production specialist Avo Photonics in collaboration with the Wireline R&D optical sensor group at Weatherford International has successfully designed and validated the performance of a downhole multi-channel photometer. The sensor has now completed several field trials and is being volume manufactured by Avo Photonics for Weatherford …
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 …
Partnership of Gubkin University and Weatherford in Complex and Integrated Oil and Gas Projects
On February 18, 2014 Gubkin Russian State University of Oil and Gas and oilfield service company Weatherford signed a Memorandum of Understanding aimed at joining efforts to establish the Center of Joint Geological and Geophysical Studies. The advanced laboratory facilities of Gubkin University, the scientific school, and the innovative technologies …
Endeeper Solution for Petrographic Knowledge Management Adopted by Weatherford Laboratories
Weatherford Laboratories in Brazil adopted the Endeeper’s solution for petrographic knowledge management. The solution is composed by Petroledge and RockViewer software and training session to enable the company’s geologists in the use of Endeeper’s software. Weatherford geologists will perform data management of sedimentary petrography directly in Petroledge and RockViewer. The …
Weatherford Arranged a Lecture at M.V. Lomonosov Moscow State University
Weatherford arranged a lecture “Shale Reservoirs: Promising Alternative to Conventional Reservoirs. Evaluation and Development” for graduate, post-graduate students and staff of the Petroleum Geology Department of the Moscow State University. The lecture was delivered by Khaled H. Hashmy, Senior Petrophysics Advisor, Petroleum Consulting (Weatherford, USA). Khaled shared Weatherford’s experience in …