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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.
- 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.
- 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.
- 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.
- 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.
| Name | Position | External Roles | Short 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. | View Report → |
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. |
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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?
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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?
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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?
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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?
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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?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
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. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
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 |
Recent press releases and 8-K filings for WFRD.
- Q1 2025 results met expectations despite a challenging environment, with significant softening seen in North America and a nearly 60% drop in Mexico, while regions like the Middle East and Asia performed more resiliently .
- Delivered $1,193 million in revenue, marking an 11% sequential and 12% YoY decline .
- Reported $253 million in adjusted EBITDA (21.2% margin) and achieved $66 million in adjusted free cash flow with a 26.1% conversion ratio .
- Implemented strict cost optimization measures including reducing head count by over 1,000 and lowering annualized personnel costs by more than $100 million, along with divestitures in Argentina to boost capital efficiency .
- Maintained a strong balance sheet with 0.5x net leverage and generated robust operating cash flow of $142 million .
- Enhanced capital allocation through $34 million of note repurchases and a total shareholder return of $71 million .
- Forward guidance remains cautious, anticipating revenue declines in North America and internationally while preserving dividends and pursuing strategic growth opportunities .
- Revenue of $1,193 million decreased 12% year-over-year, with operating income of $142 million and net income of $76 million in Q1 2025.
- Weatherford International appointed Anuj Dhruv as Executive Vice President and Chief Financial Officer effective April 21, 2025, bringing over two decades of global finance experience.
- Former CFO Arun Mitra departed on April 21, 2025 and will receive severance and related compensation benefits as outlined in the filing.
- Adjusted EBITDA of $253 million, along with operating cash flow of $142 million and adjusted free cash flow of $66 million, underpinned Q1 performance.
- The company repurchased $34 million of senior notes, declared a $0.25 per share dividend, and sold its Pressure Pumping business in Argentina as part of its portfolio optimization strategy.