Welcome to our dedicated page for Weatherford news (Ticker: WFRD), a resource for investors and traders seeking the latest updates and insights on Weatherford stock.
Weatherford International plc (NASDAQ: WFRD) generates a steady flow of news related to its energy services business, digital initiatives, and financial performance. This page aggregates company announcements, earnings releases, technology launches, contracts, and capital markets activity so readers can follow developments affecting Weatherford stock and operations.
Recent Weatherford news includes quarterly earnings results, conference call announcements, and details on shareholder returns such as dividends and share repurchases. The company reports performance across its Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI) segments, providing insight into activity trends by segment and region.
Weatherford also issues news on technology and digital offerings. Examples include the launch of Weatherford Industrial Intelligence, a digital portfolio that combines physics-based and data-driven software, and updates from the FWRD 2025 conference, which showcases next-generation well technologies and digital transformation themes. Announcements highlight tools and systems such as rotary steerable technologies, advanced completions hardware, fiber-optic sensing, and AI-enabled software platforms.
Contract and project news features awards from national and international operators for services such as Managed Pressure Drilling, tubular running, cementation products, drilling fluids, artificial lift equipment and services, and real-time monitoring. Weatherford also releases information about credit rating upgrades, senior notes offerings, and tender offers, giving investors context on its capital structure and financial strategy.
Use this news feed to review Weatherford’s latest press releases, monitor segment performance commentary, and track updates on digital initiatives, contracts, and financing activities that may influence WFRD’s outlook over time.
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Weatherford International plc (NASDAQ: WFRD) reported a strong fourth quarter performance for 2021, with revenues reaching $965 million, up 15% year-over-year. The company achieved an operating income of $33 million, recovering from a loss of $107 million in Q4 2020. Although the net loss was $161 million, it was less than the previous year’s loss of $200 million. The full year saw revenues of $3.65 billion, with operating income improving from a loss of $1.5 billion in 2020 to $116 million in 2021. Notable achievements include lucrative contracts worth over $1 billion from major oil companies.
Weatherford International plc (NASDAQ: WFRD) announced a new reporting structure effective Q4 2021. The company now reports its results in three segments: Drilling and Evaluation, Well Construction and Completions, and Production and Intervention. This change aims to enhance organizational focus, drive customer collaboration, and facilitate growth opportunities. The transition has no impact on consolidated revenue or earnings per share. CEO Girish K. Saligram emphasized that this strategic alignment will leverage technological innovation for growth across the company's diverse portfolio.
Weatherford International plc (NASDAQ: WFRD) will host a conference call on February 17, 2022, at 9:00 a.m. ET to discuss its fourth quarter and full year results for the period ending December 31, 2021. Prior to the call, a press release will announce the results and presentation slides will be available on the company's investor relations website. Participants can access the call via a live webcast or by dialing in. A telephonic replay will be available until March 3, 2022.
Weatherford International plc (NASDAQ: WFRD) announced a credit rating upgrade from 'CCC+' to 'B-' by S&P Global Ratings on December 13, 2021. This upgrade reflects improved access to capital markets and the successful completion of refinancing and debt repayment transactions, which have extended the debt maturity profile. CEO Girish K. Saligram emphasized that this rating acknowledges the company's enhanced operating performance and focus on sustainable profitability.
Weatherford International (NASDAQ: WFRD) has been awarded a three-year digital oilfield contract by Kuwait Oil Company to enhance its digital transformation strategy in North Kuwait's Heavy Oil field. The contract includes real-time monitoring and production optimization solutions, enabling KOC to improve production and workover plans. Weatherford's ForeSite platform will utilize advanced analytics and AI to optimize production performance, offering insights for reservoir and facility management. This strategic partnership aims to maximize KOC’s operational efficiency.
Weatherford International plc (NASDAQ: WFRD) announced two five-year contracts with Abu Dhabi National Oil Company (ADNOC), valued at over USD 1 billion, for downhole completions equipment and liner hanger systems. CEO Girish Saligram stated these contracts highlight Weatherford's capability in supporting ADNOC’s 2030 production goals of 5 million barrels per day. The majority of the products will be manufactured at Weatherford’s UAE facility, showcasing commitment to local value creation and global competitiveness.
Weatherford International (NASDAQ: WFRD) reported third quarter 2021 revenues of $945 million, marking a 5% sequential increase and 17% year-on-year growth. Operating income surged to $71 million from $25 million in Q2 2021, while net loss decreased to $95 million from $78 million in the previous quarter. Adjusted EBITDA rose by 32% sequentially to $179 million. The company generated positive free cash flow of $111 million, up $63 million from Q2 2021. Strategic initiatives focused on profitability and digitalization continue to underpin its operational improvements.
Weatherford International plc (NASDAQ: WFRD) announced the closure of a private offering of $1,600 million in 8.625% senior notes due 2030. The proceeds will be used to buy back an equivalent amount of its 11.00% senior notes due 2024 through a tender offer. The offering is available to qualified institutional buyers and non-U.S. investors only, under specific exemptions from the Securities Act. The company cautions that future results may differ based on market conditions, particularly regarding oil and gas prices and the ongoing impact of the COVID-19 pandemic.
Weatherford International plc (NASDAQ: WFRD) announced early tender results for its cash tender offer to purchase up to $1.6 billion of its outstanding 11.00% Senior Notes due 2024. As of the Early Tender Deadline on October 25, 2021, $1,846,040 of notes were tendered, representing 97.16% of the outstanding principal. The purchase price for accepted notes is $1,064.76 per $1,000 principal amount. Due to oversubscription, tendered notes will be prorated. The offer expires on November 8, 2021. Early settlement is expected on October 27, 2021.