The company will operate in a two division structure: Drilling Services and Production Systems; folding its three existing divisions into the two new segments.
The Drilling Services (DS) division will be formed from existing Drilling & Intervention Services division, plus the Liner Hanger and Solid Expandables business units from the former Completion Systems division.
The Production Systems (PS) division is to be formed principally from the merger of Weatherford’s Artificial Lift Systems division with the balance of the former Completion Systems division, particularly Cased Hole Systems, Flow Control Systems and Sand Control Systems, which include the highly successful Expandable Sand Screen (ESS) system.
Effective immediately, Gary L. Warren becomes President of Weatherford’s Drilling Services division; E. Lee Colley becomes President of the Production Systems division; and Stuart E. Ferguson becomes the Company’s Chief Technology Officer.
As Chief Technology Officer, Mr. Ferguson, formerly President of the Completion Systems division, will set the strategic direction and drive the commercialization of advanced technologies, including Expandable Sand Control, Expandable Solids, Underbalanced Drilling Systems, Drilling with Casing, Optical Sensing Systems and Production Optimization Systems.
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