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Last $10.37 USD
Change Today -0.08 / -0.77%
Volume 9.3M
WFT On Other Exchanges
Symbol
Exchange
New York
Mexico
Frankfurt
As of 8:04 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

weatherford international pl (WFT) Snapshot

Open
$10.61
Previous Close
$10.45
Day High
$10.74
Day Low
$10.33
52 Week High
08/27/14 - $23.98
52 Week Low
01/15/15 - $9.40
Market Cap
8.0B
Average Volume 10 Days
14.8M
EPS TTM
$0.0046
Shares Outstanding
775.3M
EX-Date
--
P/E TM
2,269.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for WEATHERFORD INTERNATIONAL PL (WFT)

weatherford international pl (WFT) Related Businessweek News

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weatherford international pl (WFT) Details

Weatherford International plc provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company offers managed-pressure drilling services, including closed-loop, air, managed pressure, and underbalanced drilling; drilling services, such as directional drilling, logging while drilling, measurement while drilling, and rotary steerable systems; and tubular running services, which consist of tubular connection and installation services for the drilling, completion, and work over of oil or natural gas wells. It also provides drilling tools comprising drilling jars, under reamers, rotating control devices, down hole tools, drill pipe and related tools, tubular handling equipment, and other pressure-control equipment; drilling and project management services; wire line services; testing and production services; re-entry, fishing, and thru-tubing services; equipment for cementing operations; liner systems, such as liner hangers; integrated laboratory services; and surface logging systems. In addition, the company offers artificial lift systems that include reciprocating rod lift systems, progressing cavity pumps, gas lift systems, hydraulic lift systems, plunger lift systems, hybrid lift systems, and wellhead systems to produce oil or natural gas from the wells; stimulation, including pressure pumping services, coiled tubing services equipment, and reservoir stimulation hydraulic fracturing services; and completion tools, such as cased hole and flow control systems, and well, industrial, and sand screens, as well as completion services, including upper and lower completions, and reservoir monitoring. Weatherford International plc was founded in 1972 and is headquartered in Baar, Switzerland.

56,000 Employees
Last Reported Date: 02/18/15
Founded in 1972

weatherford international pl (WFT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.9M
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $750.0K
Executive Vice President of Corporate Strateg...
Total Annual Compensation: $744.2K
Chief Accounting Officer and Vice President
Total Annual Compensation: $347.3K
Compensation as of Fiscal Year 2014.

weatherford international pl (WFT) Key Developments

Weatherford International plc Increases its Targeted Number of Job Cuts for 2015

Weatherford International PLC has increased its targeted number of job cuts for 2015 again. On July 22, 2015, the company announced that it will boost cuts from 10,000 to 11,000 employees. In February, the company announced to cut 8,000 jobs in the first half of 2015 in light of financial losses brought on by the oil slump. In April, this number was increased to 10,000 jobs, or 18% of the company's workforce, where it remained until this most recent announcement. In 2014, the company already let go 7,000 employees.

Weatherford International plc Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2015; Provides Cash Flow Guidance for the Third Quarter, Fourth Quarter of 2015 and Revised Capital Expenditures Guidance for the Full Year 2015

Weatherford International plc announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2015. For the quarter, the company reported total net revenues of $2,390 million against $3,711 million a year ago. Total operating loss was $464 million against total operating income of $25 million a year ago. Net loss before income taxes was $615 million against $122 million a year ago. Net loss attributable to company was $489 million or $0.63 per basic and diluted share against $145 million or $0.19 per basic and diluted share a year ago. Non-GAAP operating income was $12 million against $399 million a year ago. Non-GAAP loss before income taxes was $123 million against non-GAAP income before income taxes of $252 million a year ago. Non-GAAP net loss was $77 million or $0.10 per diluted share against non-GAAP net income of $186 million or $0.24 per diluted share a year ago. Net cash provided by operating activities was $291 million against $435 million a year ago. Capital expenditures for property, plant and equipment was $187 million against $376 million a year ago. For the six months, the company reported total net revenues of $5,184 million against $7,307 million a year ago. Total operating loss was $414 million against total operating income of $155 million a year ago. Net loss before income taxes was $722 million against $127 million a year ago. Net loss attributable to company was $607 million or $0.78 per basic and diluted share against $186 million or $0.24 per basic and diluted share a year ago. Non-GAAP operating income was $130 million against $685 million a year ago. Non-GAAP loss before income taxes was $136 million against non-GAAP income before income taxes of $403 million a year ago. Non-GAAP net loss was $110 million or $0.14 per diluted share against non-GAAP net income of $285 million or $0.36 per diluted share a year ago. Net cash provided by operating activities was $249 million against $29 million a year ago. Capital expenditures for property, plant and equipment was $411 million against $662 million a year ago. Net debt at June 30, 2015 was $7,213 million. For the third quarter of 2015, the company expects positive free cash flow driven by further reductions in working capital balances, continued discipline on capital expenditure spending, reduced severance cash payments, and improved net income. For the fourth quarter of 2015, the company expects positive free cash flow driven by further reductions in working capital balances, continued discipline on capital expenditure spending, reduced severance cash payments, and improved net income. For the full year 2015, the company revised capital expenditures downwards by $100 million to $750 million, which is 48% lower than 2014 levels. The company expects to be free cash flow positive for the full year.

Weatherford Announces the Release of Revolution® Rotary-Steerable System

Weatherford International plc announced the commercial release of its Revolution® rotary-steerable system (RSS) at the Unconventional Resources Technology Conference (URTeC). The ability to minimize risks and reduce time while drilling is integral for operators seeking to arrive at the production stage quickly and avoid future intervention. The new generation suite of Revolution RSS provides capabilities for diverse directional drilling applications in complex wellbores. Its point-the-bit technology delivers clean, accurately placed and completion-ready wellbores. With advanced sensors and telemetry, the system gives operators a reliable method for drilling from vertical to horizontal in a single run. The Revolution RSS has completed several successful drilling projects for major operators in the Eagle Ford Shale in Texas. Recently, in an onshore horizontal well, Revolution RSS was used to drill a well through a challenging, dense limestone and sandstone formation to a total depth of 16,559 feet (5,014 meters) and high temperatures up to 328 degrees F (164 degrees C). The average rate of penetration was 75% faster than conventional steerable motor assemblies. On a separate project with six wells in the Eagle Ford, Revolution RSS achieved an average of 180 ft/hr (55 m/hr) on all six wells and a record of 227 ft/hr (69 m/hr) on one well, reducing the drilling cycle by two weeks and saving the operator more than $1 million in operational costs. The Revolution RSS is compatible with the full Weatherford suite of logging-while-drilling (LWD) formation evaluation services, including real-time feedback on tool settings and status, resulting in smooth wellbores, which can be cased with the extensive Weatherford casing portfolio.

 

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