Weatherford

Weatherford International plc (OTC Pink: WFTLF) today announced its Vero™ automated connection integrity has successfully completed 100 runs and 33,000 tubular connections in operations worldwide since its market debut. Vero applies artificial intelligence to minimize safety risks and validate well integrity from the wellhead to total depth. Since its launch …

Weatherford International plc provided an update today on its expected results for the first quarter of 2020 and announced its intention to delist from the New York Stock Exchange. FINANCIAL UPDATE Despite the challenging environment, the Company’s preliminary financial results improved during the first quarter of 2020 due to operational …

Weatherford International plc announced today its results for the fourth quarter and full year 2019. Weatherford emerged from Chapter 11 bankruptcy protection pursuant to a prepackaged plan of reorganization on December 13, 2019 and eliminated $6.2 billion of debt as part of its financial restructuring.  Upon emergence, Weatherford adopted fresh-start accounting which results in Weatherford becoming a new entity …

Weatherford International plc today announced that it has completed its financial restructuring and emerged from chapter 11 protection. The Company emerges with a stronger financial foundation having reduced approximately $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a $450 million revolving credit facility, secured a $195 million letter of credit facility, and …

The World Petroleum Council announced today the first of many can’t miss speakers for the 23rd World Petroleum Congress, which will be held in Houston, December 6-10, 2020. The packed program of the Congress will feature eight high-level plenary sessions across five days, with global leaders from the oil and …

Weatherford International plc with great sadness announces that William E. Macaulay, Chairman of the Company’s Board of Directors, died unexpectantly late last week. The Company extends its sincerest condolences to his family during this difficult time and expresses its gratitude for his decades of commitment and leadership. Mark A. McCollum, …

Weatherford International plc announced today that Christoph Bausch will step down as Executive Vice President and Chief Financial Officer effective November 14, 2019 to pursue other opportunities.  He will remain with the Company through November 30, 2019 to transition his responsibilities.  Mark A. McCollum, President and Chief Executive Officer for Weatherford, commented, “On behalf of the Board …

Weatherford International plc (OTC-PINK:WFTIQ) and partners raised and donated more than $370,000 to four Houston-area non-profit organizations as a result of the 2019 edition of their annual Weatherford Walksevent, held November 9. The proceeds will be shared equally between the Houston Area Women’s Center, Camp Hope, Small Steps Nurturing Center, and Spindletop Charities. Since its inception, Weatherford Walks has raised …

Weatherford International plc announced it has signed two contracts totaling $67.4 million for drilling services with two major operators in Russia. The first contract spans two-and-a-half years. Operations began in July 2019 and will last through the end of 2022. Weatherford will provide logging-while-drilling (LWD), measurement-while-drilling (MWD), rotary steerable systems …

Weatherford International plc, one of the largest multinational oilfield service companies, has announced the signing of a five-year Corporate Procurement Agreement with Saudi Aramco to deliver cementation, completions, liners, solid expandables and casing exit technologies. The agreement establishes a foundation for future collaboration between Weatherford and Saudi Aramco, built on …