Weatherford Overview
Company Headquarters: Texas, US
Founded: 1941
Workforce: ~29,500
Company Working: Weatherford International is one of the largest multinational in oil field and service companies, which offers innovative solutions, technology and pioneer services to the oil and gas industry. The company operates through the following product and services segments: formation evaluation, drilling, completions, productions, abandonment, tubular running services, rigs, rig equipment and software. It offers a variety of drilling services including surface logging systems, closed-loop drilling, rental tools and services, drilling waste management, pressure control, liner system, cementing and drilling optimization. Weatherford’s product and services provides includes Artificial Lift Systems, Testing and Production Services, Completion Systems, Cementing Products, Surface Logging Systems, Intervention Services, and Reservoir Solutions.
Weatherford offers MPD of two types, namely semi-automated and automated. The company has a wide operational portfolio, which is segmented regionally as western and eastern hemisphere, across the globe. It is embracing automation, and digitalization, including technologies such as big data, Internet of Things, and machine learning to enhance the exploration and production process. It operates in over 90 countries and has facilities in over 860 locations, which include research and development, service, manufacturing, and training. The companies MPD product portfolio includes subsea and surface rotating control devices.
Strategy
The key strategy of Weatherford International is expansion while focusing on reduction in debt burden. The company operates in the key production areas of oil and gas, and skillfully markets its products in the region, to gain a larger share of the regional market. It focuses on strengthening its core competencies to sustain in the market. The company has heavily invested in its research and development team to develop new products and services that can drive its growth in the future. Continuous improvement in efficiency, and productivity is another key strategy for Weatherford. The company has constant focus on expanding the business boundaries.
