Tag: Weatherford
Weatherford releases Q3 results, revenue down 3%
Given that industry bottomed during Q2, worst of historical downturn is behind us, market is slowly turning – Duroc-Danner Weatherford International plc reported a net loss of $1.78 billion, or a net loss of $1.98 per share, and adjusted net loss before charges and credits of $349 million ($0.39 adjusted net loss per share) on revenues of […]
Oil services firm Weatherford to pay $140 million for accounting fraud
Weatherford fraudulently lowered the year-end sum it set aside for income taxes each year by $100 million to $154 million By Suzanne Barlyn (Reuters) – Oil services company Weatherford International LLC has agreed to a $140 million penalty to settle charges it inflated its earnings by using deceptive income tax accounting, the U.S. Securities and […]
New frack plug cuts mill out times in half – Weatherford
Eagle Ford operator reduced mill-out time to 10.5 minutes per frack plug from industry average of 25 minutes Time is money, and time spent drilling frack plugs is wasted. The new Weatherford TruFrac composite frack plug is designed to be milled out in half the time of a normal plug. The new frack plug was announced at […]
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