Weatherford International Plc
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About
Weatherford is the leading wellbore and production solutions company. Operating in more than 80 countries, the company answers the challenges of the energy industry with its global talent network of 24,000 team members and 610 locations, which include service, research and development, training, and manufacturing facilities.
Editor's note: Updated March 23, 2020.
Transactions
Weatherford Agrees To Sell Data Logging Business
Weatherford Agrees To Sell Data Logging Business
Weatherford To Sell Land Drilling Rigs For $288 Million
Weatherford To Sell Land Drilling Rigs For $288 Million
Weatherford Scraps Joint Venture, Sells A Business To Schlumberger
Weatherford Scraps Joint Venture, Sells A Business To Schlumberger
Schlumberger, Weatherford To Form OneStim JV
Schlumberger, Weatherford To Form OneStim JV
Schlumberger, Weatherford To Form OneStim JV
Schlumberger, Weatherford To Form OneStim JV
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New Financings
Priced an offering of 6.5% senior secured first lien notes due 2028 at an issue price of 100.0%. Proceeds…
Opened a private offering of senior unsecured notes due 2024 in order to repay outstanding amounts under…
Closed the public offering of 115 million common shares priced at $5.65 each. Net proceeds will support…
Priced its public offering of 100 million common shares at $5.65 each. The net proceeds will support…
Cancelled the concurrent underwritten public offering of ordinary shares and mandatorily exchangeable…
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News
Amid Flagging US Activity, OFS Sector Looks to 2025—and Overseas
Despite a slowdown in U.S. activity expected to last until 2025, overseas and offshore markets helped the oilfield services sector deliver solid second-quarter results.
As Oil Production Scales the Heights, Texas E&P Jobs Disappear —TXOGA
As operational efficiencies give E&Ps the ability to produce more oil with fewer rigs, Texas employment in the oil patch has fallen five out of the first six months of 2024.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.
Despite Slowing NAM Activity, Weatherford Declares First-ever Dividend
Weatherford reported a softer North America market but strong overseas growth, leading the company’s board to authorize its first share buyback program and first quarterly dividend.
Seeing is Believing: Fiber Optics for CO2 Storage Monitoring
Fiber optic systems can offer CO2 plume insights in CCS applications, according to services company Weatherford. Â
E&P Highlights: June 10, 2024
Here’s a roundup of the latest E&P headlines, including a decline in global drilling activity and new contract awards.
Weatherford to Deliver Drilling Services to Bapco Upstream in Bahrain
The contract with Bapco Energy subsidiary Bapco Upstream replaces Weatherford’s old drilling services contract from 2015.
Weatherford, Equinor Extend Completions, Slot Recovery Agreement
Weatherford’s technology will provide Equinor with simplified downhole architecture, cost savings and remote monitoring.
E&P Highlights: May 13, 2024
Here’s a roundup of the latest E&P headlines, with a couple fields coming online, as well as new contract awards.
Weatherford M&A Efforts Focused on Integration, Not Scale
Services company Weatherford International executives are focused on making deals that, regardless of size or scale, can be integrated into the business, President and CEO Girish Saligram said.
Renewed US Sanctions to Complicate Venezuelan Oil Sales, Not Stop Them
Venezuela’s oil exports to world markets will not stop, despite reimposed sanctions by Washington, and will likely continue to flow with the help of Iran—as well as China and Russia.
From Restructuring to Reinvention, Weatherford Upbeat on Upcycle
Weatherford CEO Girish Saligram charts course for growth as the company looks to enter the third year of what appears to be a long upcycle.Â
E&P Highlights: Dec. 11, 2023
Here’s a roundup of the latest E&P headlines, including a court ruling in favor of Welltec and new contract awards.
Weatherford’s Well Construction Platform at the Centro of It All
Weatherford’s Centro well construction platform utilizes five principles to cut costs and increase efficiencies for wells.
E&P Highlights: Nov. 13, 2023
Here’s a roundup of the latest E&P headlines, including a small but commercial discovery in the North Sea and new contract awards.
IndustryVoice
IndustryVoice: Permanent Magnet Motors - The Revolutionary, Step-Change Improvement for Artificial Lift Energy Efficiency
Two Weatherford thought leaders share their knowledge in this Q&A exchange.