Profile: Weatherford International PLC (WFT.N)
24 Nov 2017
Weatherford International public limited company, incorporated on March 3, 2014, is a multinational oilfield service company. The Company is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. Its segments include North America, Latin America, Europe/Sub-Sahara Africa (SSA)/Russia, Middle East/North Africa (MENA)/Asia Pacific and Land Drilling Rigs. Its principal business is providing equipment and services to the oil and natural gas exploration and production industry, both on land and offshore, through its three business groups: Formation Evaluation and Well Construction, Completion and Production, and Land Drilling Rigs. The Formation Evaluation and Well Construction business group includes various product lines, including managed-pressure drilling, drilling services, tubular running services, drilling tools and rental equipment, wireline services, testing and production services, re-entry and fishing services, cementing products, liner systems, reservoir solutions and surface logging systems. The Completion and Production business group includes various product lines, such as artificial lift systems, stimulation and completion systems. The Land Drilling Rigs business group encompasses its land drilling rigs business, including the products and services ancillary thereto. As of December 31, 2016, the Company conducted operations in approximately 90 countries, and had service and sales locations in various oil and natural gas producing regions in the world.
Formation Evaluation and Well Construction
Within the Formation Evaluation and Well Construction business group, the Company 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. Its suite of formation evaluation services has applications across all types of reservoirs. The Company also provides well construction services. The Managed-Pressure Drilling product line helps to manage wellbore pressure and incorporates various technologies, including rotating control devices and automated control systems, as well as various drilling techniques, including closed-loop drilling, air drilling, managed-pressure drilling and underbalanced drilling. The Drilling Services product line includes directional drilling, logging while drilling, measurement while drilling and rotary steerable systems. This service line also includes its range of downhole equipment, including high temperature and high pressure sensors, drilling reamers and circulation subs. The Tubular Running Services product line provides equipment, tubular handling and tubular connection services for the drilling, completion and workover of oil or natural gas wells. The services include automated rig systems, real-time torque-monitoring and remote viewing of makeup and breakout verification. The Drilling Tools and Rental Equipment product line includes its tools and equipment for drilling oil and natural gas wells. This includes drillpipe and collars, bottomhole assembly tools, tubular-handling equipment, pressure-control equipment and machine-shop services.
The Wireline Services product line includes open hole and cased-hole logging services to measure the physical properties of underground formations to determine the production potential, location of resources and detection of cement and casing integrity issues of an oil and gas reservoir. Testing and Production Services provide well test data and slickline and intervention services. The service line includes drillstem test tools, surface well testing services and multiphase flow measurement. The Re-entry and Fishing Services product line provides re-entry, fishing, wellbore cleaning and well abandonment services, as well as multilateral well systems. Cementing Products allow operators to centralize the casing throughout the wellbore and control the displacement of cement and other fluids for proper zonal isolation. The Liner Systems product line includes liner hangers, which allow suspension of strings of casing within a wellbore without the need to extend the casing to the surface. The Reservoir Solutions product line provides rock and fluid analysis for the purpose of evaluating hydrocarbon resources, advisory solutions, including engineering strategy and technologies for assets at various development stages, and software products for production optimization and drilling automation. The Surface Logging Systems product line provides real-time formation evaluation data from cuttings, gases and fluids obtained while drilling the well. Its offerings include gas analysis, drilling instrumentation, mud logging services and wellsite consultants.
Completion and Production
The Completion and Production business group provides a line of products and services, as well as specialized technologies, to complete, stimulate and produce wells in all types of reservoirs. Its completion products, reservoir stimulation designs and engineering capabilities are delivered to unlock reserves in deepwater, unconventional and aging reservoirs. The Artificial Lift Systems product line provides a mechanical method to producing oil or gas from a well that is lacking reservoir pressure to produce oil or natural gas. The Company provides various forms of lift, including reciprocating rod lift systems, progressing cavity pumping, gas lift systems, hydraulic lift systems, plunger lift systems and hybrid lift systems for special applications. The Company also offers related automation and control systems. The Company provides a fleet of pressure pumping assets and reservoir stimulation services, including acidizing, fracturing and fluid systems, cementing services and coiled tubing intervention. The Completion Systems product line includes downhole equipment and offers clients a line of completion tools, such as safety systems, production packers, reservoir monitoring, flow control, isolation packers, multi-stage fracturing systems and sand control technologies.
Land Drilling Rigs
The Land Drilling Rigs business group provides onshore contract drilling services and related operations globally for the oil and gas industry. The Company operates a fleet of land drilling and workover rigs with a concentration in the Middle East and North Africa. With its technologically diverse fleet, the Company has the capabilities to perform a range of 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, Noble Energy, Nabors Industries and Frank's International.
Weatherford International PLC
70 Sir John Rogerson's Quay
Company Web Links
- U.S. oil services firm Weatherford hires Morgan Stanley to sell units: sources
- U.S. oil services firm Weatherford hires Morgan Stanley to sell units - sources
- BRIEF-Community Health Systems completes divestiture of Weatherford, Texas hospital
- BRIEF-HCA announces agreement to acquire Texas Hospital from Community Health Systems