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    Weatherford International PLC (WFRD)

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    Weatherford International plc (WFRD) is a global energy services company that provides equipment and services for the oil and natural gas exploration and production industry, as well as emerging energy platforms. Operating in approximately 75 countries, the company offers innovative technologies and solutions across the entire lifecycle of a well. Its portfolio includes drilling tools, well construction and completion equipment, production optimization solutions, and digital automation technologies.

    1. Well Construction and Completions (WCC) - Offers solutions for well integrity assurance, including tubular running services, cementation products, completions, liner hangers, and well services, supporting the well construction phase with advanced technologies.
    2. Drilling and Evaluation (DRE) - Provides managed pressure drilling, wireline, drilling fluids, and drilling services, focusing on optimizing reservoir access and productivity through innovative tools and engineering.
    3. Production and Intervention (PRI) - Delivers reservoir stimulation designs, intervention services, artificial lift systems, and pressure pumping services to unlock reserves in various well types, including aging reservoirs and unconventional wells.
    4. Other - Includes digitalization and automation technologies, such as the ForeSite® EDGE 2.0, an IoT-enabled solution for real-time production optimization, and services for responsible well abandonment.
    NamePositionExternal RolesShort Bio

    Arunava Mitra

    Executive

    Executive Vice President and Chief Financial Officer

    None

    Joined WFRD in January 2023 as CFO. Previously CFO at Mitsubishi Power Americas and held finance leadership roles at Siemens. Holds an MBA and extensive experience in energy and industrial sectors.

    Desmond J. Mills

    Executive

    Senior Vice President and Chief Accounting Officer

    None

    Joined WFRD in March 2021. Promoted to SVP in November 2021. Served as Interim CFO from August 2022 to January 2023. Previously held finance roles at Caterpillar.

    Girishchandra K. Saligram

    Executive

    President and Chief Executive Officer

    None

    Joined WFRD in October 2020 as CEO. Previously COO at Exterran Corporation and held leadership roles at GE. Holds degrees in Computer Science and an MBA from Kellogg School of Management.

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    Scott C. Weatherholt

    Executive

    Executive Vice President, General Counsel, and Chief Compliance Officer

    None

    Joined WFRD in July 2020. Previously General Counsel at Arena Energy and Midstates Petroleum. Experienced in legal and compliance leadership.

    Benjamin C. Duster IV

    Board

    Director

    Board Member at Chesapeake Energy Corporation and Diamond Offshore Drilling Inc.; CFO of Mobile Technologies Inc.

    Joined WFRD in June 2020. Founder and CEO of Cormorant IV Corporation. Extensive experience in operational turnarounds and transformations.

    Charles M. Sledge

    Board

    Chairman of the Board

    Non-Executive Chairman at Noble Holding Corporation plc; Board Member at Talos Energy Inc.

    Joined WFRD in December 2019. Former CFO of Cameron International Corporation. Holds a degree in Accounting and completed the Advanced Management Program at Harvard.

    Jacqueline Mutschler

    Board

    Director

    Board Member at Antero Resources Corporation

    Joined WFRD in December 2019. Former SVP of Upstream Technology at BP. Extensive experience in energy and technology industries. Holds a B.S. in Geology/Geophysics.

    Neal P. Goldman

    Board

    Director

    Chairman of Talos Energy Inc. and Diamond Offshore Drilling, Inc.; Board Member at KLDiscovery Inc., Mallinckrodt plc, and Core Scientific, Inc.

    Joined WFRD in December 2019. Managing Member of SAGE Capital Investments. Extensive experience in restructuring and strategic planning.

    1. Given the significant reduction in activity in Mexico, leading to an anticipated revenue decline of 30% to 50% , what specific strategies are you employing to mitigate this impact on your overall revenues and margins?

    2. With expected substantial declines in Russia , how is Weatherford planning to manage its operations and financial exposure in this region, and what steps are being taken to reallocate resources to more stable markets?

    3. Despite industry challenges in Saudi Arabia, how confident are you in your ability to achieve growth in this market , and what differentiates your position from competitors who anticipate declines?

    4. You have stated a goal to achieve adjusted EBITDA margins in the high 20s over the next three years ; considering the current headwinds and necessary cost reductions, what are the key drivers that will enable you to reach this target, and how realistic is this ambition?

    5. With the significant declines in Mexico and Russia affecting international revenues , how do you plan to balance shareholder returns, including stock buybacks and dividends , with the need to invest in growth areas and maintain a strong balance sheet?

    Program DetailsProgram 1
    Approval DateJuly 23, 2024
    End Date/DurationThrough June 2027
    Total Additional Amount$500 million
    Remaining Amount$401 million (as of Dec 31, 2024)
    DetailsPart of capital allocation strategy to create shareholder value, balance with debt reduction and M&A

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    The company is identified as one of the principal competitors in the global and regional energy services market. Competition is based on factors such as performance, safety, quality, reliability, service, price, response time, and the depth and breadth of products. The energy services business is highly competitive, and consolidations or acquisitions by competitors may impact the company's business.

    The company is listed as a key competitor in the energy services industry, competing on factors like performance, safety, quality, reliability, service, price, and product portfolio. The competitive nature of the industry and potential consolidations or acquisitions by competitors could affect the company's operations.

    This competitor is highlighted as one of the main players in the energy services sector, competing globally and regionally on various factors including performance, safety, quality, and price. The competitive landscape and potential market changes due to consolidations or acquisitions are noted as challenges.

    The company is mentioned as a principal competitor in the energy services market, competing on performance, safety, quality, reliability, and other factors. The competitive dynamics and potential industry consolidations are noted as factors that could influence the company's business.

    CustomerRelationshipSegmentDetails

    Largest Customer in Mexico

    Engaged in oil and gas services with a history of late payments

    All

    2024 Revenue: 10% of total revenue <br/> Accounts Receivable (12/31/2024): 26% of total net outstanding A/R

    No recent press releases or 8-K filings found for WFRD.