Weatherford International

Weatherford International Overview

Company Headquarters: Texas, United States.

Founded: 1941

Workforce: 18,500

Company Working:

Weatherford International is a corporation that provides equipment and services for oil and natural gas well drilling, evaluation, completion, production, and intervention. The corporation was founded in 1941 and had its headquarters in Houston, Texas, United States of America. Weatherford has plants and offices in over 80 nations, including the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia-Pacific. The business's three segments are drilling Services, Completion, Production Services, and Well Construction Services. Weatherford provides various products and services, such as drilling instruments, artificial lift systems, pressure pumping, wireline services, cementing services, well intervention services, and drilling fluids. Additionally, the company offers digital solutions to assist oil and gas operators in optimizing their operations and increase their efficiency. Weatherford International has a history of innovation and has developed several technologies and products that are industry-leading. The company's products and services have won numerous accolades, including the World Oil Accolades, the Offshore Technology Conference Spotlight on New Technology Awards, and the Oil & Gas Awards.

Strategy

Innovation: The company has developed several industry-leading technologies and products that enhance oil and gas operators' performance, safety, and productivity.Portfolio Optimization: Weatherford has strategically evaluated its business portfolio and divested non-core assets and operations to concentrate on its core business lines, enhance its financial position, and reduce its debt.Customer Orientation: The company places a high priority on comprehending its customers' needs and providing solutions that are tailored to suit those needs. Weatherford has created customer-centric teams and invested in product development, customer service, and technical support.

Company Snapshot

$3,670M

Revenue

18,500

Employees

1941

Founded

Texas, United States.

Headquarters

SWOT Analysis

Strengths

Global leader in oilfield services
Wide range of products and services
Strong research and development capabilities
Extensive global network

Weaknesses

Financial instability
Dependence on the oil and gas industry
High operational costs
Vulnerability to market fluctuations

Opportunities

Development of innovative technologies
Strategic collaborations and joint ventures
Growing demand for digital solutions in the industry
Market consolidation opportunities

Threats

Increasing competition in the industry
Stringent environmental regulations
Geopolitical risks affecting operations
Cybersecurity threats

Key Developments

Date	Approach	Development
Oct-2022	Award	Petroleum Development Oman awarded Weatherford International plc a five-year, over $500 million contract to provide Integrated Drilling Service in the Marmul and Grater Saqar fields

Product Offering

Weatherford International
- AQUEOUS DRILLING-FLUID SYSTEMS
- NON-AQUEOUS DRILLING-FLUID SYSTEMS
- DRILL-IN FLUID SYSTEMS

Financial Performance

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