Profile: Weatherford International Ltd (WFT.N)
7 Mar 2014
Weatherford International Ltd. (Weatherford), incorporated in 1972, is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia. It operates in over 100 countries and have manufacturing facilities and sales, service and distribution locations in approximately all of the oil and natural gas producing regions in the world. The Company operates in ten service lines: artificial lift systems; stimulation and chemicals; drilling services; well construction; integrated drilling; completion systems; drilling tools; wireline and evaluation services; re-entry and fishing and pipeline and specialty services. Weatherford Switzerland conducts all of its operations through its subsidiaries, including Weatherford Bermuda and Weatherford International, Inc. (Weatherford Delaware).
Artificial Lift Systems
Artificial lift systems are installed in oil and gas wells that do not have sufficient reservoir pressure to lift the available hydrocarbons to the surface. These systems supplement the natural reservoir pressures to produce oil or natural gas from the well. It provides all forms of lift, including progressing cavity pumps, reciprocating rod lift systems, gas lift systems, hydraulic lift systems, plunger lift systems, hybrid lift systems, and electric submersible systems, which are sold through an entity in which it hold a minority investment. Wellhead systems and production optimization are also included in this product grouping.
Reciprocating Rod Lift Systems is a reciprocating rod lift system is comprised of a mechanical surface unit that lifts and lowers, in a reciprocal action, a sectional or continuous rod string that creates a pumping action via a downhole rod pump. Progressing Cavity Pumps are progressing cavity pump (PCP) is a downhole positive displacement pump. PCP systems are often the preferred artificial lift method to pump a range of fluids, including those with high viscosity and abrasives. They are used in a variety of production scenarios, particularly heavy oil, coal-bed methane and medium crude oil applications. Gas lift systems are used primarily for offshore wells (including deepwater and ultra-deepwater) and for wells that have a high component of gas in the produced fluid or have a gas supply near the well.
The hydraulic lift systems are used for producing oil wells and for dewatering gas and coal bed methane wells. Hydraulic pumps have been used to produce wells at rates ranging from 10,000-35,000 barrels per day in both onshore and offshore environments. Plunger lift is a method of lift. It is primarily used for dewatering liquid loaded gas wells. It offers a variety of hybrid artificial lift systems, which are engineered for special applications and may incorporate two or more of the artificial lift methods. It offers a line of conventional wellhead equipment and valves manufactured to the latest API industry specifications and client requirements, including conventional surface wellheads, gate valves, complete wellhead systems (drill-through, multi-bowl, unitized and mud-line) and all the accessories and aftermarket services to go with them.
Weatherford offers products for optimizing at the well, reservoir and field level. It offers surface and downhole sensors and specific controllers for each type of artificial lift. It provides multiphase metering systems that measure how much oil, water and gas is flowing from a well. Its water-cut technology, used to measure relative concentrations of oil and water, helps its clients measure this critical parameter for any type of production from gas and oil wells, both topside and subsea. It also provides software solutions for optimizing production from wells and production assets. These software tools assist the operator in tracking the operations needed for optimal field management. It provides software solutions for real time monitoring and optimization of wells on all forms of artificial lift. In addition, the software solution Field Office has the ability to monitor and optimize the complete production system consisting of smart wells, compressors, production facilities and pipelines. Field Office is in use on over 350,000 wells around the world. The combination of our experienced consultants and advanced software tools help the operator optimize operations for entire fields.
Stimulation and Chemicals
The Company offers its clients advanced pressure pumping, chemical and associated technologies and services for safer and more effective production enhancement. These products and services include fracturing technologies, coiled tubing technologies, cement services, chemical systems and drilling fluids. Hydraulic reservoir fracturing is a stimulation method routinely performed on oil and natural gas wells in low-permeability reservoirs to increase productivity and oil and gas recovery. Its offerings include the equipment design and technology and a range of treatment fluids and additives. Its services include a line of equipment designed with the latest technology to ensure effective results during operations that require coiled tubing intervention. Offerings include coiled tubing units, appropriate crane trucks and nitrogen tanks and pumpers (trailer or skid formats), fluids and bottom hole assemblies for thru tubing intervention. Its fleet of cement pumping equipment includes high-horsepower pump trailers, batch mixers, two-pod blended cement trailers and a four-pod sand storage trailers.
The Company’s Engineered Chemistry business combines chemical solutions with internally developed oilfield equipment technologies. Its chemistry solutions include customized chemical solutions for drilling, completion, production, intervention, chemicals for water and sand control, water treatment as well as many industrial processes; a total service package (product selection, application and optimization); and precise formulations and multi-functional chemical formulations. Its drilling fluids service line is engaged in the provision of drilling fluids, completion fluids and other related services. The functions of drilling fluids include providing hydrostatic pressure to prevent formation fluids from entering into the well bore, keeping the drill bit cool and clean during drilling, carrying out drill cuttings and suspending the drill cuttings while drilling is paused and the drilling assembly is brought in and out of the hole. We also provide waste management services which separate and manage drill cuttings produced by the drilling process. Drill cuttings are usually contaminated with petroleum or drilling fluids and must be disposed of in an environmentally safe manner.
Drilling Services capabilities include directional drilling, Secure DrillingS services, Well Testing, drilling-with-casing (DwC) and drilling-with-liner (DwL) systems, as well as surface logging systems. Directional drilling involves the personnel, equipment and engineering required to actively control the direction of a wellbore and its eventual optimal position in the target reservoir. Directional drilling allows drilling of multiple wells from a single offshore platform or a land-based pad site. It also allows drilling of horizontal wells and penetration of multiple reservoir pay zones from a single wellbore. It supplies a range of specialized, patented equipment for directional drilling, and real-time wellbore logging, including Measurement while drilling (MWD) and logging while drilling (LWD), Rotary steerable systems (RSS) and Directional drilling services.
MWD and LWD measure, respectively, wellbore trajectory and formation properties, in real time, while the well is being drilled, to enable it to be steered into its optimum position. RSS allow control of wellbore trajectory while maintaining continuous rotation of the drillstring at the surface. RSS technology is crucial for enabling long, step-out, directional wells and for reducing completion-running complications resulting from abrupt small-scale hole-angle changes caused by conventional drilling methods. Directional drilling services include surveying, design and operational support for directional and horizontal drilling and performance drilling in vertical wells; products include drilling motors and other associated equipment, software and expertise.
The Company’s Secure Drilling offerings are provided through three techniques: Managed Pressure Drilling, Underbalanced Drilling and Air Drilling. Its product offerings include high temperature motors, wireline steering tools, drillpipe, air rotary hammer drills, casing exit systems, downhole deployment valves and downhole data acquisition equipment. Well testing uses specialized equipment and procedures to obtain essential information about oil and gas wells after the drilling process has been completed. Typical information derived may include reservoir boundaries, reservoir pressure, formation permeability, formation porosity and formation fluid composition. Drilling-with-casing and drilling-with-liner (DwC and DwL) systems allow operators to simultaneously drill and case oil and natural gas wells. Surface Logging Systems referred to as mud logging, this is a well-site service that uses fluid and gas samples along with drilling cuttings to evaluate the geology and geochemistry of the formation as it is being drilled.
The grouping includes the primary services and products required to construct a well and spans tubular running services, cementing products, liner systems, swellable products, solid tubular expandable technologies and inflatable products. 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. It provides tubular handling, preparation, inspection and wellsite installation services from a single source. It 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. Liner hangers allow suspension of strings of casing within a wellbore without the need to extend the casing to the surface. It offers both drilling and production liner hangers. 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. It has four swellable packers offering: Genisis, Nemisis, Morphisis, and Genisis FT for zonal isolation. All of these products incorporate oil swell, water swell or the industry’s only customizable, dual-fluid activated swellable hybrid elastomers.
The Company’s solid tubular expandable products include the MetalSkin line and the HydraSkin System. MetalSkin systems are used for well cladding to shut off zones, retro-fit corroded sections of casing and strengthen existing casing. MetalSkin open-hole clad systems are used for controlling drilling hazards, such as unwanted fluid loss or influx and as slim-bore drilling liners. Slim-bore and, ultimately, monobore liner systems are designed to allow significant cost reductions by reducing consumables for drilling and completion of wells, allowing use of smaller rigs and reducing cuttings removal needs. The HydraSkin system is a hydraulic bottom-up expansion system that can be used for increased diameter efficiency in either planned or contingency operations. It offers a line of inflatable products and accessories that are designed to provide permanent or temporary zonal isolation at any phase of a well’s life. Annulus casing packers (ACP) are run integral to the casing string and will permanently isolate critical wellbore locations and eliminate squeeze jobs or reduce uneconomical water/gas production.
It has the ability to offer project management services to its clients, in which the Company provides a number of products and services needed to drill and complete a well, including the rig. All of our land drilling rigs are located outside of North America.
The Company offers its clients a comprehensive line of completion tools, sand screens and reservoir optimization technologies. These products and services include completion tools, sand screens and reservoir optimization. Completion Tools are incorporated into the tubing string used to transport hydrocarbons from the reservoir to the surface. It offers a range of devices for enhancing the safety and functionality of the production string, including permanent and retrievable packer systems, subsurface safety systems, flow control systems, specialized downhole isolation valves, ZoneSelect multizone frac completions systems and associated servicing equipment.
The Company provides two sand screen approaches: conventional and expandable. Conventional Sand Screens products are used in the fluid-solid separation processes and have a variety of product applications. Its primary application of well screens is for the control of sand in unconsolidated formations. It offers premium, pre-pack and wire-wrap sand screens. It also offers a FloReg line of inflow control devices that balance horizontal wellbore production, ultimately maximizing reservoir drainage. The Company also operates the water well and industrial screen business of Johnson Screens. Served markets include water well, petrochemical, wastewater treatment and surface water intake, mining and general industrial applications. Its ESS systems are proprietary step-change sand control devices that reduce cost and improve production. These systems aid productivity because they stabilize the wellbore, prevent sand migration and have a larger inner diameter. ESS technology can replace complex gravel-packing techniques in many sand control situations. Its intelligent completion technology (ICT) uses downhole optical and electronic sensing to allow operators to remotely monitor the downhole pressure, temperature, flow rate, water cut and seismic activity of each well. This advanced monitoring capability allows the operator to monitor the reaction of the reservoir to the production of the well.
The Company designs and manufactures tools, including its drilling jars, underreamers, rotating control devices and other pressure-control equipment used in drilling oil and natural gas wells. It also offers a selection of in-house or third-party manufactured equipment for the drilling, completion and workover of oil and natural gas wells. It offers these drilling tools to its clients primarily operators and drilling contractors on a rental basis. Its drilling tools include drillpipe and related drillstem tools, drill collars, and heavyweight pipe; downhole tools, including drilling jars, shock tools and underreamers; pressure-control equipment such as blowout preventers, high-pressure valves, accumulators, adapters and choke-and-kill manifolds, and Tubular handling equipment such as elevators, spiders, slips, tongs and kelly spinners.
Wireline and Evaluation Services
Wireline and evaluation services, in concert with surface logging systems and LWD, form a data acquisition and interpretation capability that enable clients with an integrated approach to formation evaluation and reservoir characterization. Open hole wireline services and logging while drilling compliment laboratory-derived analysis of core and reservoir fluid samples. When combined with geosciences consulting, this integrated capability provides the data and interpretation to reduce reservoir uncertainty and ultimately optimize production and maximize recovery. Wireline services measure the physical properties of underground formations to help determine the location and potential deliverability of oil and gas from a reservoir. Wireline services are provided from surface logging units, which lower tools and sensors into the wellbore mainly on a single or multiple conductor wireline.
The provision of wireline and associated interpretation services is divided into four categories: open hole wireline, petroleum consulting, cased hole wireline and slickline services. Open Hole Wirelineservice helps locate oil and gas by measuring certain characteristics of geological formations and providing permanent records called logs. The open hole sensors are used to determine well lithology and the presence of hydrocarbons. Formation characteristics, such as resistivity, density and porosity are measured using electrical, nuclear, acoustic, magnetic and mechanical technologies. Its Petroleum Consulting business provides services to operators worldwide in the geoscience and engineering domain. It offers clients integrated formation evaluation and well engineering support and consultancy. The business further offers domain experts in the area of unconventional resources, geomechanics, field development planning, production optimization, well engineering and project management.
Cased Hole Wireline service is performed at various times throughout the life of the well and includes perforating, completion logging, production logging and casing integrity services. Perforating creates the flow path between the reservoir and the wellbore. Production logging can be performed throughout the life of the well to measure temperature, fluid type, flow rate, pressure and other reservoir characteristics. In addition, cased hole services may involve wellbore diagnostics and remediation, which could include the positioning and installation of various plugs and packers to maintain production or repair well problems, and casing inspection for internal or external abnormalities in the casing string. Slickline Services uses a solid steel or braided nonconductor line, in place of a single or multiple conductor braided line used in electric logging, to run downhole memory tools, manipulate downhole production devices and provide fishing services primarily in producing wells.
Laboratory Services help clients plan the development of new and existing oil and gas production fields. Specifically, a global network of laboratories provides support in terms of fluid and 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. Production and Produced Water Systems help clients manage water handling during fracturing, production, disposal and enhanced oil recovery operations. Weatherford provides complete production solutions for field development and/or production optimization projects. Its engineering consultancy services and project management extend through construction to commissioning and operations for: early production facilities (the rapid design, construction and operation of complex, often remote installations), engineered resources, extended well testing, field development studies, FPSO topsides, permanent production facilities, project management and supply chain management.
Re-entry and Fishing
The Company’s re-entry, fishing and thru-tubing services help clients repair wells that have mechanical problems or that need work to prolong production of oil and natural gas reserves. Its re-entry services include casing exit services and advanced multilateral systems. Conventional and advanced casing exit systems allow sidetrack and lateral drilling solutions for clients who either cannot proceed down the original well track or want to drill lateral wells from the main or parent wellbore. Fishing services are provided through teams of experienced fishing tool supervisors and a comprehensive line of fishing and milling tools. It provides fishing services, such as removing wellbore obstructions, including stuck or dropped equipment, tools, drillstring components and other debris, that have been lost downhole unintentionally during the drilling, completion or workover of new and old wells. Specialty fishing tools required in these activities include fishing jars, milling tools, casing cutters, overshots and spears. Its fishing services also include well patches and plug-and-abandonment products.
Thru-tubing services are used in well re-entry activity to allow operators to perform complex drilling, completion and cementing activities from existing wellbores without removing existing production systems. It provides a range of thru-tubing services and products, including drilling motors, casing exits, fishing and milling, zonal isolation packers and other well remediation services. Oil or gas wells reach their economic limit or can be irreparably damaged. In these situations, the well must be abandoned according to regulatory requirements that ensure it will pose no safety or environmental hazards. Remnants of drilling fluid and other debris can damage equipment, jeopardize well completion or even shorten a well’s lifespan. Its CLEARMAX wellbore cleaning services incorporate specialized chemical, hydraulic and mechanical technologies to remove lingering debris.
Pipeline and Specialty Services
The Company provides a range of services used throughout the life cycle of pipelines and process facilities, onshore and offshore. Its pipeline group can meet all the requirements of the pipeline, process, industrial and energy markets worldwide. The Company also can provide any service (or package of services) carried out on permanently installed client equipment that involves inspecting, cleaning, drying, testing, improving production, running or establishing integrity from the wellhead out, including integrated management services.
The Company competes with Baker Hughes, Halliburton and Schlumberger.
Weatherford International Ltd
4-6 Rue Jean-Francois Bartholoni