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Weatherford International PLC (WFT.N)

WFT.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Weatherford says as of Sept 27, resolved previously disclosed investigation by SEC
Tuesday, 27 Sep 2016 10:54am EDT 

Weatherford International Plc : As of september 27, resolved previously disclosed investigation by securities and exchange commission . Penalty of $50 million due within 21 days and three installments of $30 million due within 120, 240 and 360 days . Investigation concerning accounting issues associated with material weakness in internal control over financial reporting for income taxes . As part of terms of sec settlement, company has also agreed to pay a civil monetary penalty of $140 million .Company to prepare and deliver certain reports to sec for next two years.  Full Article

Weatherford Q2 GAAP loss per share $0.63
Wednesday, 27 Jul 2016 04:15pm EDT 

Weatherford International PLC : "completed 92% of previously announced 8,000 headcount reduction plan" . Qtrly North America revenue declined 26%, outperforming a 35% reduction in average rig count and continued pricing headwinds . Weatherford reports second quarter 2016 results . Q2 revenue $1.4 billion versus I/B/E/S view $1.43 billion . Q2 gaap loss per share $0.63 . Q2 earnings per share view $-0.29 -- Thomson Reuters I/B/E/S ."industry has now hit a bottom on both activity and pricing fronts".  Full Article

Weatherford International and units enter into amendment
Friday, 22 Jul 2016 04:22pm EDT 

Weatherford International Plc : Modified existing senior revolving credit facility to make minor changes to certain terms - SEC filing . Co and its units entered into amendment no. 1 to amended and restated credit agreement with JPMorgan Chase Bank, N.A. .Modified senior revolving credit facility to permit lenders to add up to a maximum of $250 million in additional commitments.  Full Article

Weatherford amends tender offers
Wednesday, 8 Jun 2016 05:27pm EDT 

Weatherford International Plc : Weatherford amends previously announced tender offers . Amendments provide for an increase in maximum purchase price of notes offerors are offering to purchase from $1.1 billion to $2.1 billion . Amendments increase in consideration offered per $1,000 principal amount of 2018 notes, 2019 notes and 2020 notes .Amendments increase principal amount of 2020 notes Weatherford Bermuda is offering to purchase from $100.0 million to $275.0 million.  Full Article

Weatherford says public offering of $1.0 bln senior notes
Wednesday, 8 Jun 2016 05:25pm EDT 

Weatherford International Plc : To use proceeds to increase maximum purchase price for its tender offers from $1.1 billion to $2.1 billion . Launch of public offering of $1.0 billion aggregate principal amount consisting of senior notes due 2021 and due 2023 .Weatherford announces public offering of $1.0 billion of senior notes.  Full Article

Weatherford announces cash tender offers of up to $1 bln aggregate purchase price
Wednesday, 1 Jun 2016 04:40pm EDT 

Weatherford International Plc :Weatherford announces cash tender offers of up to $1.0 billion aggregate purchase price.  Full Article

Weatherford announces public offering of $1.0 bln exchangeable senior notes
Wednesday, 1 Jun 2016 04:33pm EDT 

Weatherford International Plc : Weatherford international says launch of an underwritten public offering of $1.0 billion aggregate principal amount of exchangeable senior notes due 2021 . Intends to use proceeds from offering to fund all or a portion of tender offers .Weatherford announces public offering of $1.0 billion exchangeable senior notes.  Full Article

Weatherford International signs deal with customer containing settlement on Zubair early production construction contract
Friday, 27 May 2016 06:05am EDT 

Weatherford International Plc : On May 26, signed "heads and terms of settlement" deal with customer containing settlement on Zubair early production construction contract . Net settlement to be paid to Weatherford will be in amount of $150.2 million .Settlement amount includes variation order requests, claims for extension of time and payments of remaining contract milestones.  Full Article

Fitch downgrades Weatherford International Plc to 'B+'
Tuesday, 10 May 2016 11:16am EDT 

Fitch :Fitch downgrades weatherford international plc to 'b+'; outlook negative.  Full Article

Weatherford International PLC to cut 6,000 jobs - Reuters
Wednesday, 3 Feb 2016 05:38pm EST 

Weatherford International PLC:Weatherford International Plc said it would cut about 6,000 jobs in the first half of 2016 as a steep drop in oil prices hurts drilling and exploration activity. - RTRS.The oilfield services provider, which had about 56,000 employees at the end of 2014, cut about 14,000 jobs in 2015. - RTRS.The company also set a capital expenditure target of $300 million for this year, about 56 percent lower than its 2015 spending. - RTRS.  Full Article

More From Around the Web

BRIEF-Weatherford International Q1 loss per share $0.45

* Q1 earnings per share view $-0.31, revenue view $1.36 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: