Drillers fighting for survival in world of cheap oil
For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival.
Weatherford
Weatherford files for bankruptcy protection
The oilfield services company Weatherford International filed for Chapter 11 bankruptcy protection Monday, after struggling to assimilate the companies it bought during a quest for growth, taking on too much debt and fighting to recover from falling oil prices in 2014 that hammered the energy industry.
Ex-oil worker and jockey enjoying thriving in new customs venture
A former trainee horse racing jockey who later worked in the North Sea energy industry is enjoying life after oil with her fledgling customs consultancy.
Hope for Weatherford in face of Chapter 11 bankruptcy
Oilfield services giant Weatherford International has announced further backing from lenders for financial restructuring plans aimed at significantly reducing its colossal debt pile.
Weatherford delisted from New York Stock Exchange in latest woes
Struggling oilfield service company Weatherford International is now trading as a penny stock after being delisted from the New York Stock Exchange.
Weatherford to file for Chapter 11 bankruptcy
Oilfield services company Weatherford International has entered into an agreement with its top creditors that will allow the company to file for a "prepackaged" Chapter 11 bankruptcy — after more than four years without making a profit.
Procurement ‘barriers’ stifling tech developments says business leader
Procurement policy “barriers” put up by operators are stifling technology development among SMEs, an oil and gas industry entrepreneur said.
Expro make top management appointments
Well management firm Expro has announced the promotion of two management executives.
Industry stalwart Pinto honoured at awards ceremony
An energy industry stalwart was recognised for his technical nous and role in inspiring young people to get into engineering careers at a glittering awards ceremony in Aberdeen last night.
Weatherford closes deal to sell drilling rigs in North Africa
Struggling oilfield service company Weatherford International has closed on the third of four deals to sell its drilling rigs in the Middle East and North Africa.
Weatherford slides deeper into the red with $2.8bn loss in 2018
Struggling oil field service company Weatherford International closed 2018 with a $2.8 billion loss, sliding deeper into the red as it moves into what will become its fifth year of losses.
Weatherford faces New York Stock Exchange delisting
After 30 days of its stock trading below $1 per share, oil field service giant Weatherford International is facing getting delisted from the New York Stock Exchange.
Ades gets Weatherford rigs deal over the line
Ades International Holding has completed the acquisition of eleven onshore rigs from Weatherford International in Saudi Arabia.
Fresh faces snapping up space for Offshore Europe 2019 as new venue beckons
Aberdeen’s new £333 million conference centre is fuelling fresh interest in one of the biggest oil and gas industry exhibitions on the international calendar.
Ades buys 12 rigs from Weatherford for £94m
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for £94 million.
Moody’s says oil service debt ‘unsustainable’
Debt levels at oil field services companies have reached "unsustainable" levels, the debt rating agency Moody's Investors Service said in a new report.
Shrinking Weatherford reports $200m loss
Oilfield services firm Weatherford International said Monday it reported a $199 million loss in the third quarter, which still represents a small improvement from a $256 million loss last year.
Weatherford sells lab business to Houston PE firm
Weatherford International will sell its laboratory services business for $205 million to a private equity group led by Houston's CSL Capital Management.
Weatherford finally sells its Middle East land rig business
Financially struggling oilfield services firm Weatherford International finally has found a buyer to acquire its Middle East onshore drilling rig business for $287.5 million as part of its long-term divestiture plans.
Struggling Weatherford shrinks loss, grows revenue
Financially struggling Weatherford International is still losing money, but the energy services firm is shrinking its losses and growing its revenues.
Weatherford dumps joint venture with Schlumberger and sells frack fleet instead
Oil services company Weatherford International has scrapped plans for a joint venture with competitor Schlumberger and instead sold outright its pressure pumping and hydraulic fracturing fleet to the international giant for $430million in cash.
Adipec 2017: ‘Disruption’ the order of the day, BHGE boss says
The boss of a major US oilfield service firm has said “disruption” is the order of the day as the sector continues to battle inefficiency.
Adipec 2017: World headed for oil supply ‘bust’ due to lack of investment
The world is heading for a “bust” in oil and gas supply due to chronic levels of underinvestment in the sector during the downturn, industry chiefs said today.
Adipec 2017: Sector battling negative image in mission to find talent
The heads of two US oil service firms today revealed their fears about a lack of new talent coming into the sector.
Oil-service IPOs blow past explorers as industry charts recovery
An improving oil and gas industry has turned the market for energy initial public offerings upside down.