Weatherford International Company News

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Biden Admin Extends Chevron Venezuela Sanctions Waiver
The action also applies to service companies Halliburton, Baker Hughes, Schlumberger, and Weatherford.
8:00 PM EST | May 31, 2021
ADNOC Streamlines Oilfield Procurement Process
ADNOC has launched a program standardizing procurement terms and conditions across its value chain. PHOTO SOURCE: ADNOC
8:00 PM EST | May 04, 2021
Enteq Upstream Names New CEO
Andrew Law, above, will succeed Enteq Upstream founder Martin Perry as CEO.
8:00 PM EST | April 20, 2021
Weatherford Tech Yields 42% Uptime Gain in Indonesia Field
The smart rod-lift system enabled an operator in Indonesia to optimize production by automatically adjusting lift parameters, Weatherford stated. PHOTO SOURCE: Weatherford
7:00 PM EST | November 08, 2020
Weatherford Claims Record GOM Sidetrack
Weatherford this week reported a pioneering ultra-deepwater exit in a heavy wall casing. PHOTO SOURCE: Weatherford International plc
8:00 PM EST | October 15, 2020
Weatherford Unveils MPD Milestone
The service company contends the collaboration is the first of its kind.
8:00 PM EST | September 24, 2020
Weatherford Remotely Installs Sakhalin Liner Hanger
Crew restrictions during the COVID-19 lockdown failed to stop the installation. PHOTO SOURCE: Weatherford International plc
8:00 PM EST | August 03, 2020
Weatherford Wins $15MM Argentina Contract
A major independent operator in Argentina has awarded Weatherford International a two-year contract.
8:00 PM EST | July 23, 2020
Weatherford Signs 20-well Iraq Contract
Weatherford International reported late Monday that it has signed an 18-month contract with Iraqi Drilling Co. (IDC).
8:00 PM EST | July 13, 2020
Weatherford Secures Four-year Eni Contract
Weatherford International has signed an exclusive four-year contract with Eni for downhole casing isolation valves.
8:00 PM EST | July 09, 2020
Weatherford Names Interim CEO
Christian Garcia, Executive Vice President and CFO, has decided to leave the company.
8:00 PM EST | June 17, 2020
Weatherford CEO Departs Ahead of Shareholder Meeting
The board has launched a search to find a permanent President and CEO to replace Mark A. McCollum.
8:00 PM EST | June 08, 2020
Weatherford Sees Improvements in 1Q Financial Results
However, in the current operating environment, the company's debt levels are still too high.
8:00 PM EST | April 15, 2020
Weatherford Reports $821MM 3Q Loss
Struggling oilfield services company Weatherford International had a loss of $821 million in third quarter of 2019.
8:00 PM EST | October 30, 2019
Oilfield Services Eyeing Survival Tactics in Weak US Market
Contraction of oil and gas E&P means the return of lean times for oilfield services companies.
8:00 PM EST | October 10, 2019
$80MM Equinor Deal Goes to Weatherford
Weatherford has signed an $80 million frame agreement with Equinor.
8:00 PM EST | August 29, 2019
Half of Venezuela's Oil Rigs May Shut Down If US Waivers Lapse
A looming U.S. sanctions deadline is threatening to clobber Venezuela's dwindling oil-rig fleet and hamper energy production in the nation with the world's largest crude reserves.
8:00 PM EST | August 22, 2019
Weatherford Sells Data Logging Business to Pay Debt
This is one of a series of planned divestitures by the oilfield services company that was recently warned of delisting by the NYSE.
7:00 PM EST | December 16, 2018
ADES Buys 11 Drilling Rigs from Weatherford
In the second of a series of closings under one transaction, ADES acquires 11 drilling rigs from Weatherford International.
7:00 PM EST | December 02, 2018
Weatherford Sells Laboratory Business for $205MM
Weatherford is divesting its laboratory and geological analysis business to increase shareholder value.
8:00 PM EST | October 23, 2018
Weatherford CEO's Rebound Plan Relies On Getting Smaller
Mark McCollum thinks his push to simplify its sprawling supplier networks and corporate organization will help turn around the company to emerge from the oil price collapse.
8:00 PM EST | September 13, 2018
Weatherford CEO Expects 2018 EBITDA To Nearly Double
Weatherford International's full-year earnings before expenses will nearly double from last year, CEO Mark McCollum says.
8:00 PM EST | September 04, 2018
Weatherford Posts Smaller-Than-Expected Loss On Higher Drilling
Weatherford International reported a smaller-than-expected loss.
8:00 PM EST | July 26, 2018
Weatherford Is Said to Plan Sale of Laboratories Business
The Swiss oilfield services company Weatherford International Plc is considering a sale of its laboratory business, according to people with knowledge of the matter.
8:00 PM EST | June 10, 2018
US Oil Service Firms Face Hit from Venezuela Debt Restructuring
The companies' services are critical for Venezuela.
7:00 PM EST | November 05, 2017
Weatherford Names Former Halliburton CFO Its New Chief
As the newly appointed CEO of Weatherford International, former Halliburton finance boss Mark McCollum brings "instant credibility" to the embattled services company, analysts say.
7:00 PM EST | March 06, 2017
Document: Algeria's Sonatrach Awards $180M in Oil Service Contracts
Algerian state energy company Sonatrach awards oilfield services firms Schlumberger and Weatherford contracts for cementing and pumping services, according to a Sonatrach document.
8:00 PM EST | May 07, 2016
Aker Posts Lower Profits, Cuts Workforce Salary
Aker Solutions becomes the latest oil and gas services company to announce a fresh round of cuts amid the lower oil price.
7:00 PM EST | February 11, 2016
Oilfield Services Provider Weatherford to Cut 6,000 Jobs
Weatherford says it will cut about 6,000 jobs during first half of 2016 in response to steep drop in oil prices.
7:00 PM EST | February 02, 2016
Journey to C-Suite: Weatherford's EVP Shares Lessons Learned Along the Way
Weatherford EVP Christina Ibrahim talks diversity, industry challenges and opportunities during the downturn with Rigzone.
7:00 PM EST | November 04, 2015
Weatherford Plans 3,000 Additional Job Cuts
Weatherford plans to cut 3,000 additional jobs by the end of the year.
8:00 PM EST | October 21, 2015
Weatherford Drops $1B Fundraising Plan
Unable to obtain prices that reflect company value, Weatherford rescinds billion-dollar offering.
8:00 PM EST | September 21, 2015
Weatherford Raises Layoffs Target to 11,000
Weatherford increases its worker layoff target to 11,000 as weakness in the North American oilfield service market activity continues.
8:00 PM EST | July 22, 2015
Swire Oilfield Services Secures 5 Year Contract with Weatherford in Brazil
Swire Oilfied Services secures a five year contract with Weatherford in Brazil.
8:00 PM EST | June 28, 2015
Oil Services Company Weatherford Raises Job Cuts Target to 10,000
Oil services company Weatherford increases the total number of employees it is looking to lay off in 2015 to 10,000 as it copes with the fall in oil prices.
8:00 PM EST | April 22, 2015
Weatherford To Cut 5,000 Jobs As It Fights Oil Slump
Weatherford plans to cut 5,000 jobs, or about 9% of its workforce, by the end of the first quarter as the oil services company tries to save costs amid sinking oil prices and budget cuts.
7:00 PM EST | February 04, 2015
Weatherford Eliminates COO Role amid Oil Slump
Oil services firm Weatherford International says it will eliminate the position of chief operating officer as it copes with the 60-percent slide in global crude oil prices.
7:00 PM EST | January 27, 2015
Well Abandonment: Q&A with Weatherford International
Rigzone talks to Delaney Olstad, a business development manager for Weatherford, about how the oil and gas industry can best tackle the activity of well abandonment.
7:00 PM EST | November 27, 2014
Weatherford Appoints 2H Offshore to Develop MPD System Riser Equipment
2H Offshore has been appointed by Weatherford Secure Drilling services to manage the design and delivery of the riser equipment for its Managed Pressure Drilling (MPD) system.
8:00 PM EST | October 06, 2014
Baker Hughes Finalizes Deal for Weatherford Business
Baker Hughes and Weatherford close the previously announced purchase and sale of Weatherford's pipeline and specialty services business.
8:00 PM EST | September 01, 2014
Rosneft Closes Weatherford Rigs Deal
Rosneft closes a deal to acquire land drilling and work-over assets from Weatherford.
8:00 PM EST | July 31, 2014
Russia's Rosneft Agrees to Buy Weatherford's Russian, Venezuelan Assets
Rosneft agrees to buy the Russian and Venezuelan drilling and well-servicing assets of Weatherford International.
8:00 PM EST | July 12, 2014
China's Sinopec, Weatherford In Oil Services JV As Shale In Focus
Sinopec and Weatherford are set to form a joint venture oilfield services firm, a move that could help Sinopec lead in tapping into the nation's potentially vast shale resources.
8:00 PM EST | May 20, 2014
Weatherford Says Cutting Back Venezuela Operations
Weatherford says it is reducing operations in Venezuela and expects its Russian business to grow this year.
8:00 PM EST | March 23, 2014
Weatherford Sells Pipeline, Specialty Services Business to Baker Hughes
Weatherford and Baker Hughes sign an agreement for the sale of Weatherford's pipeline and specialty services business to a subsidiary of Baker Hughes for $250 million.
8:00 PM EST | March 23, 2014
Oilfield Services Provider Weatherford To Cut 7,000 Jobs
Weatherford says it would cut 7,000 jobs and warns that its 4Q profit would miss its forecast, hurt by severe winter in North America and operational disruptions in the Middle East.
7:00 PM EST | January 29, 2014
US Fines Weatherford $253M Over Iran Work, Junkets
Weatherford will pay fines to the US government to settle charges that ranged from flouting sanctions against Iran and Syria to sending business partners on World Cup soccer junkets, officials say.
7:00 PM EST | November 25, 2013
Weatherford To Cut Debt By Up To $5 Billion In Two Years
Weatherford will cut its debt by up to $5 billion in the next two years as it boosts cash flow and divests assets, the company's CEO says.
7:00 PM EST | November 04, 2013
Iraq Awards $348M of Drilling Deals for Maysan Oilfields
Iraq has awarded $347.8 million worth of drilling contracts for the Maysan oilfields in the south of the country, a government statement says.
8:00 PM EST | September 02, 2013
Weatherford, China's Sinopec Close to Oil Service Tie-Up; Shale in Focus
Sinopec Corporation and Weatherford International are in advanced talks about forming a joint oilfield service company to help unlock China's vast shale resources.
8:00 PM EST | August 01, 2013