- Weatherford once was the fourth largest oilfield services company before crude prices plunged in 2015; the company struggled thereafter, amassed $8.3B in debt and filed for Chapter 11 bankruptcy in 2019.
- The COVID-19 pandemic smacked demand for oil and gas, forcing the company to cut costs and reduce headcount.
- But "we've got a lot more stability now, and this really marks what we're referring to as the next chapter for Weatherford," Girish Saligram, who became President and CEO in October, tells WSJ.
- Weatherford's market valuation on June 1 a year ago was $143M; its current market cap totals $870M.
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Wednesday, June 2, 2021
==Weatherford (WFRD) relists on Nasdaq as prospects improve
Labels:
relistings,
WFRD,
WFT
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