Articles from Weatherford International, LLC

HOUSTON, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Thursday, February 6, 2025 to discuss the Company’s results for the fourth quarter and full year ended December 31, 2024.

HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced that it has been awarded a three-year contract for the provision of rigless services as part of the reactivation of ADNOC onshore strings. The project is slated to begin in the fourth quarter of 2024, where Weatherford is expected to deploy multiple intervention solutions, advancing the operational efficiency and reliability of ADNOC’s onshore assets.

HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced two contracts in the Middle East, with Kuwait Oil Company (“KOC”) and a National Oil Company (“NOC”) in Qatar.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, October 23, 2024 to discuss the Company’s results for the third quarter ending September 30, 2024.

HOUSTON, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced the Company’s issuer credit rating has recently been upgraded to ‘BB-’ from 'B+' by S&P Global Ratings (“S&P”). S&P based the rating upgrade on multiple factors, including improved operating efficiency and debt repayment.

HOUSTON, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced the acquisition of Datagration Solutions Inc., an innovator in unified data integration, analytics, and machine learning. The acquisition establishes Weatherford as having one of the industry's most capable and contemporary digital offerings for production and asset optimization and demonstrates its commitment to continuously driving innovation across its technology portfolio.

HOUSTON, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” the “Company,” “we,” “us,” and “our”) announced today the release of its annual Sustainability Report, which shares the Company’s latest advancements in environmental, social, and governance (“ESG”) practices and sustainability efforts.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, July 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced that its Board of Directors (the “Board”) has appointed Steven Beringhause as a director with a term expiring at the 2025 Annual Meeting of Shareholders. His appointment is effective July 23, 2024, and will increase the size of the Company's Board to six members.

HOUSTON, June 20, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, July 24, 2024 to discuss the Company’s results for the second quarter ended June 30, 2024.

HOUSTON, June 11, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) announced that it has increased its Credit Facility by $40 million to $720 million in aggregate commitments by adding a new lender.

HOUSTON, June 06, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has been awarded a new five-year contract with Bapco Upstream, a subsidiary of Bapco Energies, in Bahrain to deliver Directional Drilling and Logging While Drilling Services, replacing the current Drilling Services contract that Weatherford was awarded in 2015.

HOUSTON, June 04, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has signed a Memorandum of Understanding (“MOU”) with QatarEnergy to establish a robust framework aimed at advancing Tawteen’s In-Country Value program objectives to develop the local energy industry, foster career opportunities and talent development, and drive technology innovation in support of the Qatar National Vision 2030.

HOUSTON, May 28, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has been awarded a two-year frame agreement extension with Equinor, a multinational energy company, for the delivery of completions, liner-hangers, and slot recovery services.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) today announced it has increased its Credit Facility by $130 million to $680 million in aggregate commitments by adding additional lenders to its facility. The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.

HOUSTON, April 16, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) ("Weatherford" or the "Company") announced the release of its 2023 Annual Update, highlighting outstanding results for the year. The digital update showcases new technology developments, recent strategic acquisitions, and the Company’s unwavering focus on creating long-term value for customers and investors, paving the path for sustainable and steadfast growth.

HOUSTON, March 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, April 24, 2024 to discuss the Company’s results for the first quarter ended March 31, 2024.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, February 7, 2024 to discuss the Company’s results for the fourth quarter and full year ended December 31, 2023.

HOUSTON, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (the "Company" or "Weatherford") today announced it has been awarded a five-year contract with Petróleo Brasileiro S.A. ("Petrobras") in Brazil, after a competitive tender, to provide Drill Pipe Riser (DPR) ultra deepwater offshore intervention systems and services. This new seven-system contract will commence operations March 2025 and will replace a current six-system contract that began in November 2020.

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) began its 19th annual FWRD Digital Conference today, convening figures from across the energy sector, technology partners, and technical experts from Weatherford. The conference aims to exchange insights on the industry's direction and the transformative impact of digitalization on the energy sector, and showcase digitally enhanced, comprehensive life-of-well solutions.

HOUSTON, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has signed a memorandum of understanding (“MOU”) with Honeywell to deliver a combined CygNet™ SCADA and Honeywell Emissions Management suite for advanced emissions management and accelerate customers’ decarbonization strategy.

HOUSTON, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced the Company’s issuer credit rating has recently been upgraded to 'B+' from 'B' by S&P Global Ratings (“S&P”). S&P based the rating upgrade in part due to the continued debt repayment as cash flows benefited from improved profitability and demand conditions. The positive outlook reflects expectation that the Company's credit metrics will continue to improve amid supportive market conditions and further debt repayment.

HOUSTON, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced that Moody's Investors Service ("Moody's") upgraded its Corporate Family Rating to B1 from B2 with Positive Outlook. The upgrade reflects the improvement in credit metrics as a result of the Company reducing its balance sheet debt and growing earnings. The positive outlook also evidences the ongoing strong demand for Weatherford’s services and potential for further improvement in its credit profile.

HOUSTON, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced Fitch Ratings (“Fitch”) has initiated a credit rating of ‘B+’ with Stable Outlook. The credit rating reflects Weatherford’s diversification, size, scale, improving margin profile, and debt-focused capital allocation.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” and, the “Company,” “we,” “us” and “our”) announced a five-year credit facility that is effective today with aggregate commitments of $550 million. The facility is comprised of a $250 million tranche available for performance letters of credit and a $300 million tranche available as a cash revolver. There is also the optionality of a $200 million accordion based on satisfaction of certain conditions.

HOUSTON, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” and, the “Company,” “we,” “us” and “our”) through its wholly owned subsidiary, Weatherford International Ltd., today issued a notice of redemption to redeem $50,000,000 aggregate principal amount outstanding of its 6.50% Senior Notes due 2028 (the “2028 Notes”) on October 23, 2023 (the “Redemption Date”) at a redemption price of 103.00% of the principal amount, plus accrued and unpaid interest to, but excluding, the Redemption Date.

HOUSTON, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, October 25, 2023 to discuss the Company’s results for the third quarter ended September 30, 2023.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

HOUSTON, July 12, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (the "Company" or "Weatherford") today announced it has been awarded a five-year contract to provide Intervention Services for Petróleo Brasileiro S.A. ("Petrobras") in Brazil.

HOUSTON, July 06, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” the “Company,” “we,” “us,” and “our”) announced today the release of its 2022 Sustainability Report, which details our continued progress towards advancing our environmental, social, and governance (“ESG”) objectives, and highlights recent accomplishments.

HOUSTON, June 30, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, July 26, 2023 to discuss the Company’s results for the second quarter ended June 30, 2023.

HOUSTON, June 08, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has been awarded a three-year contract with Aramco to deliver drilling services.

*Non-GAAP - refer to the section titled Non-GAAP Financial Measures Defined and GAAP to Non-GAAP Financial Measures Reconciled

Weatherford Announces Intention to Redeem Remaining $105 Million Principal Amount of 11.00% Senior Notes Due 2024

HOUSTON, April 12, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford,” and together with its subsidiaries, the “Company,” “we,” “us” and “our”) today announced that Weatherford International Ltd., a Bermuda exempted company and wholly owned subsidiary of Weatherford (“Weatherford Bermuda”), has commenced a consent solicitation (the “Consent Solicitation”) to solicit the consent of holders of its outstanding 6.500% Senior Secured First Lien Notes due 2028 (the “Notes”) for amendments (the “Proposed Amendments”) to the indenture governing the Notes (the “Indenture”).

HOUSTON, March 31, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, April 26, 2023 to discuss the Company’s results for the first quarter ended March 31, 2023.

HOUSTON, March 15, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) ("Weatherford" or the "Company") announced the release of its 2022 Annual Report. The interactive and fully digital report shares highlights of the Company's 2022 financial results, significant milestones, strategic focus areas, achievements, and priorities for the future.

HOUSTON, Feb. 07, 2023 (GLOBE NEWSWIRE) --  Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced today its results for the fourth quarter of 2022 and full year 2022.

HOUSTON, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, February 8, 2023 to discuss the Company’s results for the fourth quarter and full year ended December 31, 2022.

HOUSTON, Jan. 03, 2023 (GLOBE NEWSWIRE) --  Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) has appointed Arun Mitra as the Company’s Executive Vice President and Chief Financial Officer. Mr. Mitra’s appointment is effective immediately.

HOUSTON, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) signed a multi-year agreement with DataRobot, a leader in artificial intelligence (AI), to deliver advanced AI solutions in its digital platforms, including the ForeSite® production optimization and Centro™ well construction platforms.

HOUSTON, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced the Company’s issuer credit rating has recently been upgraded to 'B' from 'B-' by S&P Global Ratings (“S&P”). S&P based the rating upgrade in part due to improvements in financial performance and liquidity driven by stronger operational performance, the recently announced $400 million credit facility and the series of debt repayment transactions that improved liquidity and debt leverage profile demonstrating the Company’s improved access to capital markets, as well as expected continued improvement in market conditions and the Company’s financial measures.

HOUSTON, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced a strategic partnership with Ardyne, a leader in specialized well-decommissioning technology. This agreement will enable Weatherford and Ardyne to deliver significant value to customers globally by offering the industry’s most comprehensive portfolio of Plug & Abandonment (P&A) and Slot Recovery solutions.

HOUSTON, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced today its results for the third quarter of 2022.

HOUSTON, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced it has been awarded a three-year, lump-sum turnkey (LSTK) contract with Saudi Aramco (“Aramco”) to deliver drilling and intervention services.

HOUSTON, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) received a five-year contract exceeding $500 million from Petroleum Development Oman (“PDO”) to deliver Integrated Drilling Services in the Marmul and Grater Saqar fields. Operations are targeted to begin in the fourth quarter of 2022.

HOUSTON, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) today announced it intends to use cash on hand to redeem $125 million principal amount of its 11.0% senior notes due December 1, 2024 on November 17, 2022 (the "Unsecured Notes").

HOUSTON, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQWFRD) (“Weatherford” or the “Company”) announced that on October 17, 2022 certain of its wholly-owned subsidiaries entered into a credit agreement, which amended and restated the Company’s existing secured letter of credit agreement, dated December 13, 2019, as amended (the “Credit Facility”).