Weatherford is one of the world's largest multinational oil and
natural gas service companies. The company provides products and
services for drilling, evaluation, completion, production and
intervention of oil and natural gas wells, along with pipeline
construction and commissioning. Headquartered in Switzerland,
Weatherford operates in more than 100 countries across the globe and
employs more than 35,000 people (2016).
Weatherford International plc
(NYSE: WFT) has been selected for inclusion in the Euronext Vigeo
World 120 index, which is composed of the 120 most advanced companies
in the European, North American and Asia Pacific Regions. The Company
also maintained its inclusion in the Euronext Vigeo US 50 index.
Inclusion in these indices is effective June 1, 2016.
2 Company focus
3 See also
5 External links
The company was founded in 1941 in
Weatherford, Texas as the
Weatherford Spring Company by Jesse E. Hall Sr. In 1948, the
company was renamed Weatherford Oil Tool Company (WOTCO) with
ownership by Jesse Hall, his son, Elmer, James E. Berry, and Juan A.
Perea. From its inception, the company pioneered an innovative
technique and equipment for the cementing of cased-hole oil wells.
Originally marketed to U.S. well owners, Weatherford drilling and
casing equipment was soon being used in the oil fields of
the Gulf Oil Company.
In 1972, the separate company of Energy Ventures, Inc. was founded as
an offshore gas and oil exploration and production company. In
1987, Energy Ventures was liquidated and re-established, and by 1990,
had acquired Grant Oil Country Tubular Company.
In 1991, Weatherford acquired
Petroleum Equipment Tools Company
(PETCO). Weatherford and HOMCO later merged operations to create
Weatherford Services, the largest oil fishing/rental company in the
world. In 1995, Weatherford merged with Enterra, becoming Weatherford
In May 1998 Energy Ventures, since renamed EVI, Inc. and Weatherford
Enterra, Inc. merged, creating the current company now known as
Weatherford. In the next two years, Weatherford added a number
of well-organized brands to its expertise, including Dailey, Orwell,
Energy Rentals, Whiting, Williams, BBL and ECD Northwest. Weatherford
also created a stronger completion competence with the addition of
well-known brands in the sector such as Petroline, Cardium, Nodeco,
McAllister, Johnson Screens, Houston Well Screens, Arrow, and CIDRA.
In 2005, Weatherford acquired
Precision Drilling Corporation’s
Precision Energy Services and International Contract Drilling
divisions along with signing a $7.8 billion deal with Chicago-based
In July 2007, the company was featured in news media reports
questioning operations of the company's foreign subsidiary,
Weatherford Oil Tool Middle East, which had offices and equipment in
the nation of Sudan. Since 1997, U.S. companies were forbidden by
law to operate in Sudan, though foreign subsidiaries of U.S. companies
could still legally operate in that country if there was no
involvement by the U.S. parent or any other U.S. person.
Nevertheless, in response to media and investor criticism, the company
announced that it would divest itself of any foreign subsidiary
operations in countries sanctioned by the United States.
The next year, Weatherford withdrew from activities in
donated its in-country equipment as well as providing additional
equipment, supplies, and funding to Thirst No More, a humanitarian
organization operating in Sudan.
In 2008, the company announced that it was shifting its place of
Bermuda to Switzerland. That same year,
Weatherford completed its acquisition of V-Tech International, a
pioneer in the development of mechanical power tong systems in the
North Sea to improve rig safety.
In May 2010, Weatherford's Leetsdale, Pennsylvania, facility
accidentally released a cloud of ammonium persulfate that resulted in
the evacuation of 500 workers from the surrounding industrial
park. In April 2014, Weatherford announced that its board of
directors approved the relocation of its legal domicile to Ireland
from Switzerland. The company will continue to maintain its
operational office in Houston, Texas.
On November 9, 2016, Weatherford announced the departure of Bernard J.
Chairman of the Board, President, and CEO. It also
announced the appointment of Robert Rayne as
Chairman of the Board and
Krishna Shivram as Chief Executive Officer.
On March 6, 2017, Weatherford announced the appointment of Mark A.
McCollum as President and Chief Executive Officer, as well as a member
of the Board of Directors of Weatherford. In addition, the Company
announced that Mr. William E. Macaulay has been appointed
the Board of Directors.
As an oil and natural gas drilling services company, Weatherford
produces a variety of products and services for the oil and gas
industry. These include drilling services, electronic well measurement
and monitoring, completion, production, and evaluation products and
services. In particular, the company has developed directional
drilling services that can extend through miles of bedrock with great
precision, and tubular running services that are used on almost half
of the world’s deepwater drilling projects. The company has more
sand screen systems installed worldwide than any other company, and
production optimization systems in more than 100,000 wells around the
world. Weatherford also offers intervention, completion, and
decommissioning services for well owners, in addition to pipeline
precommissioning, commissioning operations, and one of the world's
most diverse fleets of inline inspection tools.
List of oilfield service companies
^ Company Background
^ Weatherford Annual Report
^ Riversand Company, Customers. Retrieved 27 April 2010.
^ Federal Court Of Appeals, Jesse E. Hall, Sr., and Rhoda O. Hall,
Petitioners v. Commissioner Of Internal Revenue, Respondent, 294 F.2d
^ a b c Hall v. Commissioner Of Internal Revenue, 294 F.2d 82 (1961)
^ FundingUnivers.com, Weatherford International: Company History.
Retrieved 27 April 2010.
^ a b c d FundingUnivers.com, Weatherford International: Company
^ "Weatherford Overview." Weatherford International. June 6, 2002.
Retrieved 23 January 2010.
^ Walt, Vivienne, A Texas Company In Sudan, CNN Money.com Fortune, 25
^ a b Walt, Vivienne, A Texas Company In Sudan, 25 July 2007.
^ a b Walt, Vivienne (2007-09-12). "U.S. oil firm pulls out of Sudan".
CNN; Fortune 14 September 2007. Retrieved 15 October 2013.
^ Laird, Kerry, Weatherford Ending Operations In Iran, Cuba, Syria,
Sudan With Loss, RigZone.com, 18 March 2008.
^ Walt, Vivienne, Weatherford makes amends in Sudan, CNNMoney.com:
Fortune, 14 May 2008.
^ "Weatherford planning to relocate base to Switzerland." Houston
Business Journal. Friday December 12, 2008. Retrieved 23 January 2010.
^ Anonymous, Field-tested Power Tong Handles All Sizes Of Casing,
Drillpipe, Tubing, Offshore, 1 April 2008.
^ "Hazmat Called To Leetsdale Chemical Spill". WTAE-TV Pittsburgh. May
27, 2010. Retrieved on November 17, 2015.
^ Eaton, Collin. "Weatherford moving to Ireland as Swiss executive pay
rules change". Fuel Fix. Retrieved 14 April 2014.
^ Matthews, Christopher M. (2017-03-07). "Weatherford Names Mark
McCollum as New CEO". Wall Street Journal. ISSN 0099-9660.
Weatherford International Ltd., Company Focus. Retrieved 27 April
Weatherford International Ltd., Pipeline Specialty Services:
Production - Precommissioning And Commissioning. Retrieved 27 April
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