Weatherford International

NovaSource Power Services Names Akshay Sagar President and Chief Executive Officer

Retrieved on: 
Wednesday, May 1, 2024
Schlumberger, TSX, Weatherford International, CVG, OMERS, Trust, Growth, Management

CHANDLER, Ariz., May 1, 2024 /PRNewswire/ -- NovaSource Power Services ("NovaSource"), a global leader in solar operations and maintenance ("O&M") services and a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG) and OMERS Private Equity, the private equity arm of OMERS, is pleased to announce the appointment of Akshay Sagar as President and Chief Executive Officer of NovaSource. Akshay is a strategic energy executive who brings a wealth of experience across the energy and industrial service sectors to the business. He is a growth-focused leader who has held senior management roles at Paterson-UTI, Weatherford International, Halliburton, and Schlumberger. With a passion for driving sustainable growth, Akshay is the right leader to advance the NovaSource mission of supporting the global energy transition by maintaining the lifecycle and efficiency of critical clean energy assets.

Key Points: 
  • CHANDLER, Ariz., May 1, 2024 /PRNewswire/ -- NovaSource Power Services ("NovaSource"), a global leader in solar operations and maintenance ("O&M") services and a portfolio company of Clairvest Group Inc. ("Clairvest", TSX: CVG) and OMERS Private Equity, the private equity arm of OMERS, is pleased to announce the appointment of Akshay Sagar as President and Chief Executive Officer of NovaSource.
  • Akshay is a strategic energy executive who brings a wealth of experience across the energy and industrial service sectors to the business.
  • "I am honored and delighted to be part of the NovaSource team as we prepare for the next phase of growth and diligent execution at NovaSource," said Sagar.
  • "Akshay is a highly respected leader, and brings with him decades of experience and a strong vision for the future," added Bill Morneau, Chairman of the Board of NovaSource Power Services.

Weatherford Announces First Quarter 2024 Results and Raises Full Year Margin Guidance

Retrieved on: 
Tuesday, April 23, 2024
Petroleum Development Oman, International, BP, Well drilling, WFRD, PTTEP, Artificial intelligence, Capital expenditure, Growth, Gulf of Mexico, Weatherford International, XT, Senior, Machine learning, MPD, Gas lift, Quattro, Acquisition, Line of credit, ESP, Credit, Kuwait Oil Company

HOUSTON, April 23, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the first quarter of 2024.

Key Points: 
  • Operating income was $233 million in the first quarter of 2024, compared to $185 million in the first quarter of 2023 and $216 million in the fourth quarter of 2023.
  • First quarter 2024 cash flows provided by operating activities were $131 million, compared to $84 million in the first quarter of 2023 and $375 million in the fourth quarter of 2023.
  • Capital expenditures were $59 million in the first quarter of 2024, compared to $64 million in the first quarter of 2023 and $67 million in the fourth quarter of 2023.
  • We closed the first quarter 2024 with total cash of approximately $937 million as of March 31, 2024, down $126 million sequentially.

Weatherford Announces $130 Million Credit Facility Increase to $680 Million and Notice to Redeem All of Its 6.50% Senior Notes Due 2028

Retrieved on: 
Tuesday, April 23, 2024
Debt-to-GDP ratio, Weatherford International, WFRD, Credit, Note, Line of credit, Bank

The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.

Key Points: 
  • The facility is now comprised of a $309 million tranche available for performance letters of credit and a $371 million tranche available for revolving loans.
  • The Company also announced notice to redeem (the “Redemption”) the remaining $81,502,600 aggregate principal amount outstanding of its 6.50% Senior Notes due 2028 (the “2028 Notes”).
  • Weatherford expects to redeem the 2028 Notes before the end of May.
  • Girish Saligram, President and Chief Executive Officer of Weatherford, commented, "Today's announcements highlight our continued progress in fortifying our capital structure.

Weatherford Releases 2023 Digital Annual Update

Retrieved on: 
Tuesday, April 16, 2024
Weatherford International, WFRD

HOUSTON, April 16, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced the release of its 2023 Annual Update, highlighting outstanding results for the year.

Key Points: 
  • HOUSTON, April 16, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) ("Weatherford" or the "Company") announced the release of its 2023 Annual Update, highlighting outstanding results for the year.
  • The digital update showcases new technology developments, recent strategic acquisitions, and the Company’s unwavering focus on creating long-term value for customers and investors, paving the path for sustainable and steadfast growth.
  • Entering 2024, Weatherford has undergone a significant transformation, distinctly different from its past and the sector.
  • Weatherford is now a reimagined entity, strategically poised for success in the evolving landscape.”
    The 2023 Annual Update is available on the Company's website.

Weatherford Announces First-Quarter 2024 Conference Call

Retrieved on: 
Friday, March 22, 2024
Weatherford International, PIN, WFRD, Central Time

HOUSTON, March 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, April 24, 2024 to discuss the Company’s results for the first quarter ended March 31, 2024.

Key Points: 
  • HOUSTON, March 22, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) will host a conference call on Wednesday, April 24, 2024 to discuss the Company’s results for the first quarter ended March 31, 2024.
  • Prior to the conference call, the Company will issue a press release announcing the results and the associated presentation slides will be uploaded to the investor relations section of the Weatherford website.
  • Alternatively, the conference call can be accessed by registering in advance (which will provide a PIN for immediate access) or by dialing +1 877-328-5344 (within the U.S.) or +1 412-902-6762 (outside of the U.S.) and asking for the Weatherford conference call.
  • A telephonic replay of the conference call will be available until May 8, 2024, at 5:00 p.m. Eastern Time.

PPG Names Robert Massy Chief Human Resources Officer

Retrieved on: 
Wednesday, March 27, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Other Manufacturing, Construction & Property, Retail, Chemicals, Plastics, Building Systems, Human Resources, Interior Design, Home Goods, Manufacturing, Westinghouse Electric Company, Growth, Information technology, University of East London, Business administration, Ethics, Lancaster University, CHRO, Weatherford International, Creativity, Multimedia, Management

PPG (NYSE: PPG) today announced the appointment of Robert Massy as senior vice president and chief human resources officer (CHRO), effective March 18, 2024.

Key Points: 
  • PPG (NYSE: PPG) today announced the appointment of Robert Massy as senior vice president and chief human resources officer (CHRO), effective March 18, 2024.
  • Reporting to Tim Knavish, PPG chairman and chief executive officer, Massy will be responsible for leading the company’s global human resources organization.
  • View the full release here: https://www.businesswire.com/news/home/20240327425906/en/
    PPG appointed Robert Massy as senior vice president and chief human resources officer (CHRO), effective March 18, 2024.
  • Massy joined Westinghouse in 2015 as chief talent officer and then was named CHRO in 2017.

Global Digital Oilfield Market to reach a valuation of US$ 70.1 billion by 2034, FMI Projection

Retrieved on: 
Wednesday, February 21, 2024
Robotics, Algorithm, IO, Weatherford International, Integrated operations, Internet of things, CGG, Growth, ABB, Rockwell Automation, Schlumberger, Safety, Collaboration, FMI, Cloud computing, VR, Workforce, Software, Pet industry

NEWARK, Del., Feb. 21, 2024 /PRNewswire/ -- The global digital oilfield market is anticipated to reach a valuation of US$ 34.1 Billion in 2024, driven by integration of blockchain technology.

Key Points: 
  • NEWARK, Del., Feb. 21, 2024 /PRNewswire/ -- The global digital oilfield market is anticipated to reach a valuation of US$ 34.1 Billion in 2024, driven by integration of blockchain technology.
  • Collaboration and partnerships among oil and gas companies, technology providers, and service vendors are driving innovation and accelerating the adoption of digital oilfield solutions.
  • Prominent players in the digital oilfield market are Schlumberger, Halliburton, Weatherford International, ABB, Emerson, CGG, Siemens, Rockwell Automation, and Kongsberg, among others.
  • Future Market Insights offers an unbiased analysis of the global digital oilfield market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

Global Digital Oilfield Market to reach a valuation of US$ 70.1 billion by 2034, FMI Projection

Retrieved on: 
Wednesday, February 21, 2024
Robotics, Algorithm, IO, Weatherford International, Integrated operations, Internet of things, CGG, Growth, ABB, Rockwell Automation, Schlumberger, Safety, Collaboration, FMI, Cloud computing, VR, Workforce, Software, Pet industry

NEWARK, Del., Feb. 21, 2024 /PRNewswire/ -- The global digital oilfield market is anticipated to reach a valuation of US$ 34.1 Billion in 2024, driven by integration of blockchain technology.

Key Points: 
  • NEWARK, Del., Feb. 21, 2024 /PRNewswire/ -- The global digital oilfield market is anticipated to reach a valuation of US$ 34.1 Billion in 2024, driven by integration of blockchain technology.
  • Collaboration and partnerships among oil and gas companies, technology providers, and service vendors are driving innovation and accelerating the adoption of digital oilfield solutions.
  • Prominent players in the digital oilfield market are Schlumberger, Halliburton, Weatherford International, ABB, Emerson, CGG, Siemens, Rockwell Automation, and Kongsberg, among others.
  • Future Market Insights offers an unbiased analysis of the global digital oilfield market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

Weatherford Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Tuesday, February 6, 2024
Well, Carbon, Petrobras, Partnership, ExxonMobil, Growth, Weatherford International, Senior, WFRD, PTTEP, Ageing, Note, QatarEnergy, Safety, Capital, MPD, Capital expenditure, Pump, CCS, Well services, Acquisition, Video game

HOUSTON, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the fourth quarter of 2023 and full year 2023.

Key Points: 
  • Operating income was $216 million in the fourth quarter of 2023, compared to $218 million in the third quarter of 2023 and $169 million in the fourth quarter of 2022.
  • Basic income per share was $1.94, compared to $1.70 in the third quarter of 2023 and $1.01 in the fourth quarter of 2022.
  • Fourth quarter 2023 cash flows provided by operating activities were $375 million, compared to $172 million in the third quarter of 2023 and $193 million in the fourth quarter of 2022.
  • Capital expenditures were $67 million in the fourth quarter of 2023, compared to $42 million in the third quarter of 2023 and $49 million in the fourth quarter of 2022.

Senior Executives of Indonesia Energy Take on New Roles and New Board Member Added

Retrieved on: 
Wednesday, January 17, 2024
Social media, IEC, Government, INDO, Investment, Weatherford International, Marketing, Management

JAKARTA, INDONESIA AND DANVILLE, CA, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE American: INDO) ("IEC"), an oil and gas exploration and production company focused on Indonesia, today announced that it has made changes and enhanced the effectiveness of its management team and Board of Directors.

Key Points: 
  • Mr. Mirza Said has been appointed as Chief Operating Officer of the Company.
  • Over the past several years, he has been involved with and helped guide all aspects of our operations and business and has been an invaluable C-suite team member.
  • Mr. Fathurachman replaces Mr. Tamba Hutapea, who is retiring as a member of IEC’s board of directors.
  • Dr. Jusuf stated “Amhad brings an independent perspective, experience and new energy to our board as we look to drive our drilling programs ahead.