Profile: Weatherford International PLC (WFT.N)
Weatherford International plc (Weatherford), formerly Weatherford International Ltd., incorporated on November 26, 2008, is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. It's product offerings are divided into two product service line groups: Formation Evaluation and Well Construction, and Completion and production, which together comprise a total of 15 service lines. The Company operates four segments: North America; MENA/Asia Pacific; Europe/SSA/Russia, and Latin America. It provides solutions, technology applications, and services for formation evaluation, well construction, completion, and artificial lift. In June 2014, Weatherford International Ltd (Weatherford Switzerland) announced the merger of Weatherford Switzerland with and into Weatherford International plc, new public holding company and parent of Weatherford group of companies incorporated under Irish law. On July 31, 2014, the Company sold its land drilling and workover operations in Russia and Venezuela to Rosneft.
The Company operates in over 100 countries. Formation Evaluation and Well Construction service lines include Controlled-Pressure Drilling and Testing, Drilling Services, Tubular Running Services, Drilling Tools, Integrated Drilling, Wireline Services, Re-entry and Fishing, Cementing, Liner Systems, Integrated Laboratory Services and Surface Logging. Completion and Production service lines include Artifi cial Lift Systems, Stimulation and Chemicals, Completion Systems and Pipeline and Specialty Services.
Controlled-Pressure Drilling and Testing
Controlled-Pressure Drilling and Testing includes several drilling techniques including closed-loop drilling, air drilling, controlled pressure drilling, and underbalanced drilling. It’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.
Drilling Services includes directional drilling, logging while drilling, measurement while drilling and rotary steerable systems. This service line also includes its full range of downhole equipment including high temperature motors, wireline steering tools, drillpipe, air rotary hammer drills, casing exit systems, downhole deployment valves and downhole data acquisition equipment.
Tubular Running Services
Tubular Running Services consists of a variety 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. It also specializes in critical service installations.
Drilling Tools includes its patented drilling jars, underreamers, rotating control devices, downhole tools, drillpipe and related tools, tubular handling equipment. It also includes other pressure-control equipment used in drilling oil and natural gas wells.
Integrated Drilling provides encompasses drilling and the project management services. It also provides to its clients in tandem with all of the products and services needed to drill and complete a well, including the rig.
Wireline Services includes open hole and cased-hole logging services to measure the physical properties of underground formations and help determine the location and potential deliverability of oil and gas from a reservoir. It also includes production and produced water systems for fracturing, production disposal and oil recovery operations.
Re-entry and Fishing Services
Re-entry and Fishing Services provides re-entry services, fishing services, thru-tubing services and well abandonment services. It also provides wellbore cleaning services.
Cementing produces specialized equipment that allows operators to centralize the casing throughout the wellbore and control the displacement of cement and other fluids for proper zonal isolation. Its cementing engineers also analyze complex wells and provide all job requirements from pre-job planning to installation.
Liner Systems includes liner hangers, which allow suspension of strings of casing within a wellbore without the need to extend the casing to the surface. Its directional wells include one or more liners to optimize casing programs. Drilling liners are used to isolate areas within the well during drilling operations. Production liners are used in the producing area of the well to support the wellbore and to isolate various sections of the well.
Integrated Laboratory Services
Integrated Laboratory Services provides support for fluid reservoir characterization, specialized core and fluid testing, oil recovery, rock strength and characterization, sour richness and maturity, sorption properties assessment and reservoir flow studies. These are the Company’s Integrated Laboratory Services.
Surface Logging Systems
Surface Logging Systems provides advanced gas analysis, drilling instrumentation and, mud logging services. It also provides wellsite consultants.
Artificial Lift Systems
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 all forms of lift, including reciprocating rod lift systems which create a pumping action via a downhole rod pump, progressing cavity pumping for predominantly 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. It also offers wellhead systems to reduce time in changing wellhead sizes while increasing safety procedures, production monitoring and optimization, and flow measurement which measures how much oil, water and gas is flowing in a well.
Stimulation and Chemicals
Stimulation and Chemicals offers clients advanced chemical technology and services for safer and effective production enhancement. These products and services include: a full fleet of pressure pumping services, including cementing services; coiled tubing services equipment designed to ensure effective results during operations that require coiled tubing intervention; 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 full range of completion services including upper completions, lower completions and reservoir monitoring.
Pipeline and Specialty Services
Pipeline and Specialty Services includes range of services used throughout the life cycle of pipelines and process facilities, onshore and offshore. Its pipeline group serves the pipeline, process, industrial and energy markets globally. On permanently installed client equipment, it also provides services such as inspecting, cleaning, drying, testing, improving production, running, or establishing integrity from the wellhead out, including integrated management services.
The Company competes with Schlumberger, Halliburton and Baker Hughes.
Weatherford International PLC
70 Sir John Rogerson's Quay