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 (WFRD) is a leading global provider of oilfield services, delivering innovative solutions for drilling, well construction, and reservoir evaluation. This page serves as the definitive source for Weatherford-related news, offering investors and industry professionals timely updates on operational developments.
Access curated press releases, earnings announcements, and strategic initiatives directly from the company. Track critical updates including technology launches, partnership agreements, and market expansions across Weatherford's global footprint. Our repository ensures you stay informed about developments in artificial lift systems, tubular running services, and other core operations.
Bookmark this page for streamlined access to Weatherford's official communications, designed to support informed decision-making in the energy sector. Regularly updated content provides clarity on how the company navigates evolving industry challenges through technical expertise and operational excellence.
Weatherford International (NASDAQ: WFRD) will host a conference call on July 24, 2024, to discuss its second-quarter results for the period ending June 30, 2024. The call will start at 9:00 a.m. Eastern Time. A press release with the results and presentation slides will be available on Weatherford's investor relations website before the call. Participants can join the webcast or dial in using provided numbers. A replay will be accessible until August 7, 2024. Weatherford, a global energy services company with operations in 75 countries, focuses on strategic solutions that enhance efficiency, flexibility, and responsibility in energy operations. For more details, visit Weatherford's website or contact their investor relations.
Weatherford International (NASDAQ: WFRD) announced a $40 million increase in its Credit Facility, bringing total commitments to $720 million. The facility now includes a $327 million tranche for performance letters of credit and a $393 million tranche for revolving loans. Additionally, the amendment allows the accordion feature to increase up to $1 billion. CEO Girish Saligram highlighted the liquidity and capital structure flexibility this provides, affirming the company's focus on long-term value generation. Weatherford operates in 75 countries with a workforce of 18,800 and offers innovative energy services combining proven technologies and digitalization.
Weatherford International (NASDAQ: WFRD) has secured a five-year contract with Bapco Upstream, a subsidiary of Bapco Energies in Bahrain. This agreement involves providing Directional Drilling and Logging While Drilling Services, replacing their previous contract from 2015. Weatherford will employ its comprehensive suite of drilling technologies and the Centro™ optimization platform to enhance reservoir-characterization data, aiming for improved collaboration, transparency, and operational efficiency. CEO Girish Saligram highlights this contract as a testament to Weatherford's longstanding performance and advanced digital capabilities in Bahrain.
Weatherford has signed an MOU with QatarEnergy to support Tawteen’s In-Country Value program. This collaboration aims to enhance the local energy industry, create job opportunities, and drive technological innovation aligned with Qatar National Vision 2030.
Key initiatives include developing Qatari nationals in technical fields, infrastructure, technology, and supply chains. Weatherford’s CEO, Girish Saligram, highlights this partnership as a significant milestone, reinforcing sustainable development and technological advancement in the region.
Weatherford (NASDAQ: WFRD) has secured a two-year extension of its framework agreement with Equinor for completions, liner-hangers, and slot recovery services. The agreement leverages Weatherford's Accuview® downhole monitoring solutions and AlphaVTM next-generation whipstock system, which have significantly enhanced operational efficiency and reduced rig time. The 2023 deployment of AlphaVTM in the North Sea saved costs and improved remote monitoring capabilities. Weatherford's recently executed slot recovery operation, using technologies from the Ardyne portfolio, delivered further cost and operational enhancements. The extension also includes access to Weatherford's ForeSite® sense optical reservoir monitoring solution, facilitating production optimization. CEO Girish Saligram expressed pride in the extended partnership, emphasizing the significance of Weatherford's innovative offerings.
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