Weatherford

Weatherford International plc announced today a segment recast by quarter for the full year 2020 and through the third quarter of 2021. Effective the fourth quarter of 2021, Weatherford realigned its reporting structure to three product line segments (1) Drilling and Evaluation (2) Well Construction and Completions, and (3) Production and Intervention. …

Weatherford International plc today announced the Company’s issuer credit rating has recently been upgraded to ‘B-‘ from ‘CCC+’ by S&P Global Ratings (“S&P”). S&P based the rating upgrade in part on the results of the recently completed series of refinancing and debt repayment transactions that both lengthened the debt maturity …

Weatherford International plc today announced that it was awarded two five-year contracts with Abu Dhabi National Oil Company with a combined value of more than USD 1 billion for downhole completions equipment and liner hanger systems. Girish Saligram, President and Chief Executive Officer, commented, “These drilling-related awards demonstrate our differentiated …

Weatherford International plc announced today its results for the third quarter of 2021. Third quarter 2021 revenues were $945 million, an increase of 5% sequentially and 17% year-on-year. Third quarter 2021 operating income was $71 million compared to operating income of $25 million in the second quarter of 2021 and an operating loss of $60 million in the third …

Pipe Metallurgical Company, TMK, and Weatherford have entered into a framework agreement for technological cooperation for the provision of services in the oil and gas industry for Russian and foreign markets. The document was signed by the parties at the St. Petersburg International Gas Forum (SPIGF-2021). The Agreement documents the …

Weatherford International plc announced today its results for the second quarter of 2021. Revenues for the second quarter of 2021 were $903 million, an increase of 9% sequentially and 10% year-on-year.  Reported operating income was $25 million in the second quarter of 2021, compared to an operating loss of $13 million in the first quarter of 2021 …

Weatherford International plc announced today its results for the first quarter of 2021. Revenues for the first quarter of 2021 were $832 million, a decline of 1% sequentially and 32% year-on-year.  Reported operating loss was $13 million in the first quarter of 2021, compared to an operating loss of $107 million in the fourth quarter of 2020 …

Safe Influx has announced today that the rig trial of the industry’s first ever integration of Managed Pressure Drilling (MPD) and Automated Well Control technology has been completed.  Following months of preparation by Weatherford, Safe Influx and Finesse Control Systems (who build the Safe Influx equipment and develop the logic programming), a series …

Weatherford International plc (OTC Pink: WFTLF) (“Weatherford” or the “Company”) announced today its results for the fourth quarter and full-year 2020. – Revenues of $842 million in the fourth quarter increased 4% sequentially, from 15% growth in North America and 2% internationally– Fourth-quarter operating loss of $107 million and adjusted EBITDA …

Weatherford International plc announced today its results for the third quarter of 2020. Revenues for the third quarter of 2020 were $807 million, a decline of 2% sequentially and 39% year-on-year. Reported operating loss was $60 million in the third quarter of 2020, compared to an operating loss of $497 million in the second quarter …