Weatherford

Weatherford Draws the Line on Layoffs, Pricing Discounts

Weatherford International plc has undergone a significant cost restructuring during the downturn, including a 42% reduction in its workforce over the past 18 months, management told investors during the company’s quarterly conference call Thursday.

July 29, 2016
Weatherford Boosts 2016 Cash Flow Estimates on Reduced Overhead, Efficiencies

Weatherford Boosts 2016 Cash Flow Estimates on Reduced Overhead, Efficiencies

Weatherford International plc, working overtime to overcome a string of poor quarterly performances, this year expects to generate cash flow well above forecasts after reining in costs and bringing in more cash than it spent in 2015 for the first time in five years.

February 5, 2016

Weatherford Cuts 1,000 More, Mostly in U.S., Following Crushing Quarter

Weatherford International plc is laying off another 1,000 people, mostly U.S. support staff, to deal with an energy industry that is “substantially underfunded and substantially underinvested,” CEO Bernard J. Duroc-Danner said Thursday.

July 24, 2015

U.S. Oilfield Chemicals Demand Soaring

Shale development and rising oil prices are pushing up domestic demand for oilfield chemicals at a rate of more than 8% a year, according to new research by The Freedonia Group Inc. By 2015 the U.S. market for chemicals should reach $13.6 billion, the Cleveland-based industry analyst said.

December 2, 2011

Halliburton Agrees to Turn Over Fracking Data to EPA

Halliburton Co.said it has reached an agreement to turn over to the Environmental Protection Agency (EPA) all documents related to fluids used in the controversial hydraulic fracturing (fracking) process, ending a battle that could have landed in court.

December 9, 2010

GE Purchases Gas Turbine Maker

GE Power Systems expanded its already-significant turbinemanufacturing force with yesterday’s announced purchase ofWeatherford Global Compression Services’ Gemini division. Financialterms of the acquisition were not disclosed.

December 27, 1999

GE Purchases Gas Turbine Maker

GE Power Systems expanded its turbine manufacturing force withyesterday’s announced purchase of Weatherford Global CompressionServices’ Gemini division. Financial terms of the acquisition werenot disclosed.

December 22, 1999
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