Profile: Weatherford International PLC (WFT.N)
30 Nov 2016
Weatherford International plc, incorporated on March 3, 2014, is an oilfield service company. The Company provides equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates through five segments: North America, Latin America, Europe/Sub-Sahara Africa (SSA)/Russia, Middle East/North Africa (MENA)/Asia Pacific and Land Drilling Rigs. The Company offers products through three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs, which together include approximately 14 product lines. Formation Evaluation and Well Construction includes Managed-Pressure Drilling, Drilling Services, Tubular Running Services, Drilling Tools, Wireline Services, Testing and Production Services, Re-entry and Fishing Services, Cementing, Liner Systems, Integrated Laboratory Services and Surface Logging Systems. Completion and Production includes Artificial Lift Systems, Stimulation and Completion Systems. Land Drilling Rigs encompasses land drilling rigs business, including the products and services ancillary thereto.
Formation Evaluation and Well Construction
The Company's Formation Evaluation and Well Construction business group provides formation evaluation services from early well planning to reservoir management services, including core analysis, surface logging, well site geochemistry, logging while drilling and wireline services. The Company's managed-pressure drilling includes several drilling techniques, including closed-loop drilling, air drilling, managed-pressure drilling and underbalanced drilling. The drilling services include directional drilling, logging while drilling, measurement while drilling and rotary steerable systems. This service line also includes the downhole equipment, including high temperature motors, wireline steering tools, air rotary hammer drills, casing exit systems, downhole deployment valves and downhole data acquisition equipment.
The Company's Tubular Running Services consists of a range of tubular connection and installation services for the drilling, completion and workover of an oil or natural gas well, including liner systems, solid expandable systems, zonal isolation products and swellable well-construction technologies. The Drilling Tools include the drilling jars, underreamers, rotating control devices, downhole tools, drillpipe and related tools, tubular handling equipment and other pressure-control equipment used in drilling oil and natural gas wells. Its Integrated Drilling consists of drilling and the project management services. The Wireline Services include open hole and cased-hole logging services to measure the physical properties of underground formations and helps determining the location and deliverability of oil and gas from a reservoir.
The Company's Testing and Production Services include drillstem test tools, early production facilities, life-of-field production facilities, produced-water systems, tubing conveyed perforating systems and well testing systems. The Re-entry and Fishing Services provide re-entry services, fishing services, thru-tubing services, well abandonment services and wellbore cleaning services. The Company's Cementing operations consist of phases of well completion. The Liner Systems include liner hangers, which allow suspension of strings of casing within a wellbore without the need to extend the casing to the surface. The Integrated Laboratory Services provide support for fluid reservoir characterization, specialized core and fluid testing, enhanced oil recovery, rock strength and characterization, sour richness and maturity, sorption properties assessment and reservoir flow studies. The Company's Surface Logging Systems provide advanced gas analysis, drilling instrumentation, mud logging services and wellsite consultants.
Completion and Production
The Company's Completion and Production business group provides a line of products and services, specialized technologies, for stimulating and completing wells in all types of reservoirs. Artificial Lift Systems are installed in oil and gas wells without sufficient reservoir pressure to produce oil or natural gas from the well. It provides various forms of lift, including reciprocating rod lift systems, which create a pumping action through a downhole rod pump, progressing cavity pumping for heavy oil, coal-bed methane and medium crude oil applications, gas lift systems for producing reservoirs or in wells that have stopped working, hydraulic lift systems to operate a downhole hydraulic pump (jet or piston), plunger lift systems primarily for dewatering liquid loaded gas wells and hybrid lift systems for special applications.
Stimulation offers clients advanced chemical technology and services. Its products and services include a fleet of pressure pumping services, which include cementing services, coiled tubing services equipment and reservoir stimulation hydraulic fracturing services for oil and natural gas wells in low-permeability reservoirs. Completion Systems offers clients a line of completion tools, such as cased hole and flow control systems, well screens, industrial screens and sand screens. It also offers a range of completion services, including upper completions, lower completions and reservoir monitoring.
Land Drilling Rigs
The Company's Land Drilling Rigs business group provides onshore contract drilling services and related operations for the oil and gas industry. It operates a fleet of land drilling and workover rigs in oil and gas producing regions with the concentration in the Middle East and North Africa. It performs a range of advanced drilling projects that include multi-well pad drilling, high pressure high temperature drilling, deep gas drilling, special well design and other unconventional drilling methods in various climatic conditions.
The Company competes with Schlumberger, Halliburton, Baker Hughes, National Oilwell Varco, Cameron International, Noble Energy, Nabors Industries and Frank's International.
Weatherford International PLC
70 Sir John Rogerson's Quay