Weatherford

Weatherford International plc today announced it has completed the sale of two land drilling rigs that were relocated in Algeria and has delivered two idle land drilling rigs from Iraq. The Company received $10 million in cash for each of the land drilling rigs relocated in Algeria and an additional $12 million in cash for …

Weatherford International plc today announced it has completed the sale of four contracted drilling rigs in Algeria. The Company expects that the remaining two rigs will transfer within the following four weeks after relocating within Algeria. This will complete the sale of Weatherford’s land drilling operations in Algeria, which in total includes six …

Weatherford International plc reported a net loss of $2.1 billion, or a loss of $2.10 per share, for the fourth quarter of 2018. This compares to a net loss of $1.9 billion, or a loss of $1.95 per share, for the fourth quarter of 2017. The non-GAAP net loss for …

Weatherford International plc announced a major enhancement to the ForeSite® production optimization platform. Among the top features of the new release is expanding predictive failure analytics to electric submersible pumping systems (ESPs) and adding complete optimization capabilities for plunger-lifted wells. The platform expands on industry-exclusive capabilities in reciprocating rod lift …

Weatherford International plc today announced it has signed a definitive agreement to sell its surface data logging business to Excellence Logging for $50 million in cash. As part of the agreement, Weatherford will sell all of its surface data logging equipment, technology and associated contracts and will transfer the related personnel to …

Weatherford International plc (NYSE: WFT) (the “Company” or “Weatherford”) today announced it has received written notice from the New York Stock Exchange (the “NYSE“) that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because …

 Weatherford International plc today announced it has completed the sale of its Precision Drilling Services Saudi Arabia land drilling operations, including 11 drilling rigs, 923 employees and associated customer contracts to ADES International Holding Ltd. for $92.5 million in cash. In July 2018, a subsidiary of Weatherford signed definitive agreements …

Weatherford International plc (NYSE: WFT) reported a net loss of $199 million, or a loss of $0.20 per share, for the third quarter of 2018. This compares to a net loss of $256 million, or a loss of $0.26 per share, for the third quarter of 2017. The non-GAAP net loss for the third quarter of 2018, …

Weatherford International plc today announced it has signed a definitive agreement to sell its laboratory services business to a group led by CSL Capital Management, L.P. for $205 million in cash. Under the agreement, Weatherford will divest its laboratory and geological analysis business, including personnel and associated contracts. After exiting the laboratory business, Weatherford will …

A subsidiary of Weatherford International plc today announced it has sold all of its ownership interest in Sunita Hydrocolloids Pvt Ltd. SHPL is a joint venture formed by Weatherford and its joint venture partners in 2007 and is a leading manufacturer and supplier of natural and chemically modified guar gum used as …