Weatherford

Amended Plan of Reorganization Contemplates the Reduction of Approximately $5.85 Billion in Debt Weatherford International Ltd., and Weatherford International, LLC announced today that the United States Bankruptcy Court for the Southern District of Texas issued an order confirming Weatherford’s Second Amended Joint Prepackaged Plan of Reorganization (the “Plan”) of Weatherford International plc and its Affiliate …

Weatherford International plc announced the integration of Microsoft® Power BI into the ForeSite® production optimization platform for the oilfield industry. This integration accelerates ForeSite users’ ability to deep dive into their production data, conduct analyses, and create simple, easy-to-digest data visualizations that illustrate virtually any production scenario from the well …

Weatherford International plc  has announced the market launch of its AlphaSTTM single-trip openhole cementing sidetrack system, a market-first capability to initiate sidetrack operations without the need of a cement plug. Designed to increase operator flexibility, eliminate multiple trips, and avoid costly cementing operations, AlphaST is the world’s only single-trip openhole …

Court Approves Weatherford Interim Access to up to $1.5  Billion in New “DIP” Financing Granting of “First Day Motions” Paves the Way for Weatherford  to Continue Operations in the Ordinary Course Without Disruption to Customers,  Vendors, Partners or Employees Weatherford International plc, Weatherford International Ltd., and Weatherford International, LLC (collectively, …

Financial Restructuring Implemented through “Pre-Packaged” Chapter 11 Process Will Reduce Company’s Long-Term Debt by More Than $5.8 Billion Proposed Restructuring Contemplates $1.75 Billion in New Financing and up to $1.25 Billion in Additional Post-Emergence Financing Weatherford Operations Are Continuing Without Interruption and With No Expected Impact on Customers, Vendors, Partners …

Weatherford International plc announced today that additional holders of its senior notes have signed the restructuring support agreement (the “Restructuring Agreement”) previously announced by the Company on May 10, 2019.  With the new signatories, over 74% of the Company’s senior unsecured note holders are now parties to the Restructuring Agreement, an …

Financial Restructuring Expected to be Implemented through “Pre-Packaged” Chapter 11 Process and Will Reduce Company’s Long-Term Debt by More Than $5.8 billion Proposed Restructuring Contemplates $1.75 Billion in New Financing and up to $1.25 billion in Additional Post-Emergence Financing Weatherford Operations Are Continuing Without Interruption and With No Expected Impact …

Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which at its peak was valued at more than $50 billion, never recovered from the 2014 oil price collapse. Efforts under …

Weatherford International today unveiled Victus intelligent MPD, an Industry 4.0 solution that features intelligent control, equipment automation and leading technical competence driven by a global engineering organization. Based on experience in more than 7,600 MPD operations, Victus enables operators and drilling contractors to achieve their objectives with unmatched safety and …

Weatherford International plc has commercially released ForeSite® Edge, the next generation of well automation and control. ForeSite Edge significantly expands on the capabilities of a traditional controller by harnessing the power of the company’s industry-leading ForeSite production optimization and CygNet® IoT/SCADA platforms. Together, these technologies introduce Production 4.0 intelligence to the …