Weatherford

Weatherford International plc today announced the Company’s issuer credit rating has recently been upgraded to ‘B’ from ‘B-‘ by S&P Global Ratings (“S&P”). S&P based the rating upgrade in part due to improvements in financial performance and liquidity driven by stronger operational performance, the recently announced $400 million credit facility …

Weatherford International plc announced a strategic partnership with Ardyne, a leader in specialized well-decommissioning technology. This agreement will enable Weatherford and Ardyne to deliver significant value to customers globally by offering the industry’s most comprehensive portfolio of Plug & Abandonment (P&A) and Slot Recovery solutions. The Company will invest in …

Third quarter revenues of $1,120 million, increased 5% sequentially, led by higher Drilling and Evaluation activity Net income was $28 million and operating income was $121 million Adjusted EBITDA[1] was $214 million, a 19.1% adjusted EBITDA margin with a 160 basis point sequential improvement Net cash provided by operating activities …

Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announces entering into a strategic agreement with Kwantis, a leading advanced drilling analytics company. This agreement will strengthen the Weatherford Centro™ well construction optimization platform with multi-well benchmarking and Drilling KPI analytics to provide exceptional visibility and performance optimization across multiple operations …

Weatherford International plc has appointed Charles “Chuck” Davison, Jr. as Executive Vice President of Operational Excellence, effective September 30, 2022. Mr. Davison brings 25 years of experience in growing and transforming international technology-focused businesses in oil and gas services, energy infrastructure, and industrial, consumer, and engineered products. Mr. Davison joins …

Full-year revenue outlook increased to mid-teens growth year-over-year Second quarter revenues of $1,064 million increased 13% sequentially, led by strong international growth of 14% Operating income was $104 million, compared to $18 million in the first quarter of 2022 and adjusted EBITDA[1] was $186 million or a 17.5% adjusted EBITDA …

Weatherford International plc announced today that H. Keith Jennings, Executive Vice President and Chief Financial Officer, will leave the Company effective July 31, 2022. His leaving the Company is not the result of any dispute or disagreement regarding the Company’s accounting or financial practices, statements, conditions, or operations. Girish Saligram, …

Girish Saligram, President and Chief Executive Officer, commented, “Our deepest sympathies go out to all those impacted by the ongoing crisis in Ukraine and sincerely hope that peace is restored soon to spare further hardship. Our primary focus is centered on the safety and wellbeing of our employees in the region. “Since the crisis …

Weatherford International plc announced today its results for the fourth quarter of 2021. Fourth quarter 2021 revenues were $965 million, an increase of 15% year-over-year and 2% sequentially. Fourth quarter 2021 operating income was $33 million compared to an operating loss of $107 million in the fourth quarter of 2020 and operating income of $71 million in …

LYTT, a provider of real-time insights to energy asset operators through intelligent sensor data extraction and acoustic fingerprinting, and Weatherford, a leading global energy services company, have signed an international collaboration agreement. The collaboration will target all lines of business, industries and platforms and combine LYTT’s proprietary sensing insights with …