Weatherford International

Bankruptcy allows Weatherford to realize first profit in more than six years

March 16, 2020

Houston Chronicle Chapter 11 bankruptcy has allowed Houston oilfield service company Weatherford International to close 2019 with its first profit in more than six years. Shedding roughly $6 billion of debt after successfully emerging from Chapter 11 reorganization in mid-December, Weatherford reported a $5.3 billion profit on more than $1.2 billion of revenue during the fourth quarter. The figures were

Weatherford emerges from bankruptcy with $10 billion of support

December 16, 2019

Houston Chronicle Switzerland and Houston-based oilfield service company Weatherford International has emerged from Chapter 11 bankruptcy with roughly $10 billion of financial support. In a Friday morning statement, Weatherford announced that the company emerged from Chapter 11 with $6.2 billion of outstanding funded debt, secured $2.6 billion in exit financing facilities, including a $450 million revolving credit facility, secured a

Lonestar Announces Results for Horned Frog Wells - Oil & Gas 360

Energy Bankruptcies Back on the Rise in 2019

August 15, 2019

From The Houston Chronicle After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019. The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a

Weatherford Proposes Reverse Split to Ward Off NYSE Delisting

May 2, 2019

From the Houston Chronicle Executives with Weatherford International are asking stockholders to vote for a reverse stock split plan that they believe will prevent the struggling oilfield service company from being delisted on New York Stock Exchange. As the company prepares to report its first quarter earnings on May 8, Weatherford’s board of directors released ballots on late Tuesday afternoon

Weatherford: Net Loss of $1.94 Billion

February 2, 2018

Weatherford International plc (ticker: WFT) reported a net loss of $1.94 billion, or a loss of ($1.95) per share for the fourth quarter of 2017. Non-GAAP net loss for the fourth quarter of 2017, excluding charges and credits, was $329 million, or ($0.33) diluted loss per share. Revenue in the fourth quarter of 2017 was $1.49 billion, which increased 2% from revenue of $1.46 billion for the third quarter

EnerCom Dallas Presenter Superior Drilling Products Showing Technology in ME with Weatherford

January 16, 2018

Superior Drilling Products, Inc. (ticker: SDPI) will be presenting at the EnerCom Dallas oil and gas investor conference. Superior is a drilling tool technology company based in Vernal, Utah. Q3 2017 highlights Tool revenue increased 72% over prior-year period Revenue nearly doubled to $4.4 million over prior-year quarter Generated $1.7 million in cash from operations in the quarter In Q3