Edition:
United States

Weatherford International PLC (WFT)

WFT on New York Consolidated

3.80USD
18 Oct 2017
Change (% chg)

$-0.16 (-4.04%)
Prev Close
$3.96
Open
$3.95
Day's High
$4.04
Day's Low
$3.80
Volume
15,702,052
Avg. Vol
18,228,530
52-wk High
$7.09
52-wk Low
$3.39

Latest Key Developments (Source: Significant Developments)

Weatherford announces registered exchange offer for previously issued 9.875 pct senior notes due 2024
Friday, 22 Sep 2017 05:02pm EDT 

Sept 22 (Reuters) - Weatherford International Plc :Weatherford announces registered exchange offer for previously issued 9.875% senior notes due 2024.  Full Article

WEATHERFORD PRICES PRIVATE OFFERING OF $250 MILLION OF SENIOR NOTES
Monday, 26 Jun 2017 05:14pm EDT 

June 26 (Reuters) - Weatherford International Plc :WEATHERFORD PRICES PRIVATE OFFERING OF $250 MILLION OF SENIOR NOTES.PRICING OF A PRIVATE OFFERING OF AN ADDITIONAL $250 MILLION AGGREGATE PRINCIPAL AMOUNT OF ITS 9.875% SENIOR NOTES DUE 2024.PRICING OF A PRIVATE OFFERING AT 101% OF PAR.  Full Article

Weatherford International in June identified an immaterial error, with no cash flow impact, of nearly $28 mln, net - SEC Filing
Monday, 26 Jun 2017 07:40am EDT 

June 26 (Reuters) - Weatherford International Plc :Weatherford International - In June 2017, company identified an immaterial error, with no cash flow impact, of approximately $28 million, net - SEC filing.Weatherford - Identified error related to recognition of revenue with a customer, Petróleos De Venezuela, S.A..Weatherford International Plc - Impact of correction will reduce accounts receivable by approximately $28 million as of June 30, 2017.Weatherford International says will correct immaterial error in quarterly report on form 10-Q for the three and six month periods ended June 30, 2017‍​.Weatherford - Immaterial error resulted in overstatement of both accounts receivable & revenue of about $22 million & $23 million, respectively, as of and for 2016.Weatherford says ‍beginning Q3 2016, time expected to collect revenue earned with pdvsa exceeds contractual payment terms, represents implied financing arrangement​.Weatherford - Correction to reduce revenue, increase interest income by about $31 million and $3 million, respectively, for three and six months ended June 30‍​.Weatherford - Error resulted in overstatement of both accounts receivable & revenue of about $6 million & $8 million, respectively, as of & for 3-mths ended March 31, 2017.Weatherford - Impact of error would have no impact on previously reported compliance with covenants under senior revolving & term loan credit facilities‍​.  Full Article

Weatherford announces private offering of $250 mln of senior notes
Monday, 26 Jun 2017 07:18am EDT 

June 26 (Reuters) - Weatherford International Plc :Weatherford announces private offering of $250 million of senior notes.Weatherford International Plc - Launch of a private offering of an additional $250 million aggregate principal amount of its 9.875% senior notes due 2024.Weatherford International Plc - New notes will have identical terms, other than issue date, as initial notes.Weatherford International Plc - New notes and initial notes will be treated as a single class of securities under indenture governing notes.Weatherford-‍new notes to be issued as additional securities under indenture pursuant to which weatherford bermuda issued $540 million of 9.875% senior notes due 2024​.Weatherford International - Purpose of offering is to repay amounts outstanding under co's revolving credit facility, give co additional liquidity throughout 2017.  Full Article

Weatherford International Q1 loss per share $0.45
Friday, 28 Apr 2017 07:00am EDT 

April 28 (Reuters) - Weatherford International Plc :Weatherford reports first quarter 2017 results.Q1 revenue $1.39 billion.Q1 loss per share $0.45.Q1 earnings per share view $-0.31, revenue view $1.36 billion -- Thomson Reuters I/B/E/S.  Full Article

State Street Global Advisors says received a paymentfrom class action settlement
Friday, 21 Apr 2017 04:48pm EDT 

April 21 (Reuters) - State Street Corp ::State Street Global Advisors says received a payment as authorized claimant from a class action settlement related to Weatherford International Ltd.  Full Article

Weatherford International CEO Krishna Shivram's FY 2016 total compensation was $4.3 mln versus $4.9 mln in FY 2015
Wednesday, 29 Mar 2017 05:03pm EDT 

Weatherford International Plc : Weatherford International - CEO Krishna Shivram's FY 2016 total compensation was $4.3 million versus $4.9 million in FY 2015 .Weatherford international - former chairman, Bernard Duroc-Danner's FY 2016 total compensation was $31.43 million versus $15.72 million in FY 2015 - sec filing.  Full Article

Weatherford and Schlumberger to form OneStim joint venture
Friday, 24 Mar 2017 04:45pm EDT 

Weatherford International Plc : Weatherford and Schlumberger to form OneStim joint venture . Weatherford International Plc - Schlumberger and Weatherford will have 70/30 ownership of joint venture, respectively . Weatherford International Plc - Schlumberger will manage joint venture and consolidate it for financial reporting purposes .Weatherford International Plc says Weatherford will receive a one-time $535 million cash payment from Schlumberger.  Full Article

Halliburton announces chief financial officer departure
Monday, 6 Mar 2017 06:08pm EST 

Halliburton Co : Halliburton announces chief financial officer departure . Says Robb Voyles appointed interim CFO . Also announced promotion of Lyn Beaty to senior vice president of finance effective immediately . Halliburton has engaged an executive search firm to conduct a comprehensive search for its next CFO . Says CFO Mark McCollum resigned .McCollum is leaving company effective immediately to become chief executive officer at Weatherford International PLC.  Full Article

Weatherford appoints Mark McCollum as president, CEO and director
Monday, 6 Mar 2017 06:01pm EST 

Weatherford International Plc : Weatherford appoints Mark McCollum as president, CEO and director . Krishna Shivram will be departing as interim chief executive officer effective immediately . William Macaulay has been appointed chairman of board of directors . Says Krishna Shivram will be departing as interim chief executive officer effective immediately .Christoph Bausch, Weatherford's EVP and CFO will serve as acting CEO until McCollum assumes role in permanent capacity.  Full Article

BRIEF-Community Health Systems completes divestiture of Weatherford, Texas hospital

* Community Health Systems completes divestiture of Weatherford, Texas hospital Source text for Eikon: Further company coverage: