Weatherford International Stock

Weatherford International plc, together with its subsidiaries, operates as a global energy services company providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention, and responsible abandonment of wells in the oil and natural gas exploration and production industry, as well as new energy platforms.

The company conducts business in approximately 75 countries, answering the challenges of the energy industry with 335 operating locations, including manufacturing, research and development, service, and training facilities.

Strategy

The company’s focus is on accelerating the strategic deployment of the company’s strategic priorities of customer experience enhancement; creating the future through innovation of the company’s products, services and solutions; and lean operations to simplify and drive waste out of the business for increased productivity, quality, decreased cycle-times and for improved service levels.

Reportable Segments

The company operates through three segments: Drilling and Evaluation, Well Construction and Completions, and Production and Intervention.

Products and Services

Drilling and Evaluation (‘DRE’) offers a suite of services, including managed pressure drilling, drilling services, wireline and drilling fluids. DRE offerings range from early well planning to reservoir management through innovative tools and expert engineering to optimize reservoir access and productivity.

Managed Pressure Drilling helps to manage wellbore pressures to optimize drilling performance. The company incorporates various technologies, including rotating control devices and advanced automated control systems, as well as several drilling techniques, such as closed-loop drilling, air drilling, managed-pressure drilling and underbalanced drilling.

Drilling Services includes directional drilling, logging while drilling, measurement while drilling and rotary-steerable systems. The company provides a full range of downhole equipment, including high-temperature and high-pressure sensors, drilling reamers and circulation subs.

Wireline includes open-hole and cased-hole logging services that measure the geophysical properties of subsurface formations to determine production potential, locate resources and detect cement and casing integrity issues. The company also executes well intervention and remediation operations by conveying equipment via cable into existing wells.

Drilling Fluids provides fluids and chemicals essential to the drilling process.

Well Construction and Completions (‘WCC’) offers products and services for well integrity assurance across the full life cycle of the well. The primary offerings are tubular running services, cementation products, completions, liner hangers and well services. WCC deploys conventional to advanced technologies, providing safe and efficient services in any environment during the well construction phase.

Tubular Running Services provides equipment, tubular handling, tubular management and tubular connection services for the drilling, completions, and workover of various types of wells. The company includes conventional rig services, automated rig systems, real-time torque-monitoring, and remote viewing of the makeup and breakout verification process, all underscored by the company’s technology and procedural protocols to provide casing and tubular running operations with superior efficiency, and reduced health, safety, and environmental risks.

Cementation Products enable operators to centralize the casing throughout the wellbore and control the displacement of cement and other fluids for proper zonal isolation. Specialized equipment includes plugs, float and stage equipment and torque-and-drag reduction technology. The company’s cementation engineers analyze customer requirements and provide software enabled design input from pre-job planning to installation.

Completions offer customers a comprehensive line of completion tools, such as safety valves, production packers, downhole reservoir monitoring, flow control, isolation packers, multistage fracturing systems and sand-control technologies that set the stage for maximum production with minimal cost per barrel.

Liner Hangers suspend a casing string within a previous casing string thereby eliminating the need to run casing to the surface. The company offers a comprehensive liner-hanger portfolio, along with engineering and execution experience, for a wide range of applications that include high-temperature and high-pressure wells.

Well Services provides through tubing products and services, which ensure consistent delivery of well solutions that extend the economic life of the company’s customer's assets.

Production and Intervention (‘PRI’) offers production optimization technologies through the company’s ability to design and deliver a complete production ecosystem ranging from boosting productivity to responsible well abandonment for the company’s customers. The primary offerings are intervention services & drilling tools, artificial lift, digital solutions, sub-sea intervention and pressure pumping services in select markets. PRI utilizes a suite of reservoir stimulation designs, and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs.

Intervention Services & Drilling Tools provides re-entry, fishing and well abandonment services, as well as patented bottom hole, tubular-handling equipment, pressure-control equipment and drill pipe and collars for various types of wells.

Artificial Lift provides pressure enabling methods to produce reservoir fluids from wells lacking sufficient reservoir pressure for natural flow. The company provides most 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.

Digital Solutions provides software, automation, and flow measurement solutions. For the company’s customers’ drilling operations, the solutions deliver data aggregation, engineering, and optimization, including performance analytics in real-time. For the company’s customers’ production operations, the solutions provide flow measurement, surveillance, and control to deliver production optimization by integrating workflows and data for the well, surface facilities and the reservoir.

Sub-Sea Intervention provides electrical and hydraulic power transmission to subsea equipment in order to facilitate workovers and abandonment in deep and ultra-deep-water operations in select markets.

Pressure Pumping Services offers advanced chemistry-based solutions and associated pumping services for safe and effective production enhancements. In select international markets, the company provides pressure pumping and reservoir stimulation services, including acidizing, fracturing, cementing, and coiled-tubing intervention.

Competition

The company’s principal competitors include SLB, Halliburton, Baker Hughes, National Oilwell Varco, ChampionX, and Expro Group Holdings.

Customers

Substantially all of the company’s customers are engaged in the energy industry and include national oil companies, international and independent oil and natural gas companies, as well as new energy companies.

History

Weatherford International plc was incorporated in 1972.