The pact aims at integrating Managed Pressure Drilling (MPD) solutions with Automated Well Control technology. We do this without ever losing sight of our fundamental responsibility for the well-being of personnel, assets, and the environment.”. These include drilling services, electronic well measurement and monitoring, completion, production, and evaluation products and services. Listen to Webcast. It is designed to give readers an informative overview of the month's major industry news while focusing on market reviews, product and technical information, directories, events and objective profiles. The TorkDrive™ Compact offers numerous advantages to its users. Notable amongst these is the Riser-Tong 21-300, which is well distinguished the world’s strongest hydraulic makeup tong. [6], In 1972, the separate company of Energy Ventures, Inc. was founded as an offshore gas and oil exploration and production company. We revealed the prototypes for these earlier this year, and received a lot of attention because they were acknowledged as a major improvement within the oilfield service industry.”. Energy Industry Review September 30, 2020 Last Updated: September 30, 2020. [14], On 6 March 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. Staff allegedly falsified documents stating that they had shipped goods to Barcelona, Venezuela, where they were later sent to Cuba. Based in Langenhagen, Germany, the company employs over 200 people, and is famed for its innovative and pioneering designs. In 2008, the company announced that it was shifting its place of incorporation from Bermuda to Switzerland. The connectors for the joints on the risers that were being installed required 125,000 ft-lbs of makeup torque, and 225,000 ftlbs of breakout torque. Our business is helping our clients to safely and sustainably find, drill, complete and produce oil and gas fields. If you continue to use this site we will assume that you are happy with it. In 1995, Weatherford merged with Enterra, becoming Weatherford Enterra Inc.[8]. Before joining Weatherford, Girish served Exterran Corporation as Chief Operating Officer and previously as President, Global Services after joining the company in 2016. Furthermore, the tool can be quickly positioned over successive joints, and multiple safety interlocks enhance both efficiency and safety. Composite Plugs. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.” IDC is a leading Iraqi service company focusing on rig services and is a major player in the nationalisation programme for the country’s oil and gas sector. There are 785 companies integrated in the Weatherford International, LLC corporate family. May 2-3, 2019. The tool possesses the flexibility to run a wide range of casing sizes, boasts a design that allows for high-volume circulation during running and drilling, and includes a mode that permits venting of compressed air during casing fill-up operations. The Company operates in over 80 countries and has a network of approximately 700 locations, including manufacturing, service, research and development, and training facilities. Our business is helping our clients to safely and sustainably find, drill, complete and produce oil and gas fields. “We understand that there are many companies out there who attempt to use our ideas and advancements to benefit from our success. Providing innovative solutions, technology and services to the oil and gas industry, the following entities are a part of the Weatherford group of companies. Furthermore, all of the equipment that we manufacture is checked and inspected according to proven schedules before leaving the plant, and our testing yard even includes a rig structure to simulate realistic on-site conditions during this phase. Weatherford (WFT) is one of the largest multinational oilfield service companies offering diversified categories of technology products and services similar to competitors: Schlumberger, Halliburton and Baker Hughes to the international upstream oil and gas industry. Gas-Lift Systems. Weatherford Bankruptcy: Oil & Gas Company Set to File Chapter 11 WFT also missed Q1 earnings estimates By William White , InvestorPlace Writer May 13, 2019, 1:17 pm EST May 13, 2019 Listen to Webcast As a consequence, it has made a significant contribution to the group having recently achieved a turnover of $6.1 billion. “We showcased this new design at the OTC in Houston earlier this year,” says Uwe. The board of directors of Weatherford International plc (OTC Pink: WFTLF) has announced that it will appoint Girish K. Saligram as the company's new president and CEO. Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. In his role at Weatherford, Karl oversees all region and product line operations, QHSE, sales, engineering, R&D, and supply chain. Weatherford International, a Houston-based oil and gas company, says it plans on cutting 6,000 workers due to the current oil market. Weatherford lost $966 million in … 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. By focusing very carefully on customer relations, however, we become aware of industry needs and general market trends at a very early stage. NAIC: 213111 Drilling Oil and Gas Wells; 23571 Concrete Contractors; Oil and Gas Field Machinery and Equipment Manufacturing Company Perspectives: Weatherford's mission is to be the company of choice for an extensive range of oilfield products, services and technologies that will help our customers produce oil more efficiently and profitably. 42nd Annual Weatherford Oil and Gas Golf tournament. From a financial perspective, the tong has provided clients the benefits of reducing the number of personnel needed on the rig floor, whilst greatly enhancing operational efficiency and safety. [12] In April 2014, Weatherford announced that its board of directors approved the relocation of its legal domicile to Ireland from Switzerland. The Company operates in over 80 countries and has a network of approximately 700 locations, including manufacturing, service, research and development, and training facilities. [10] 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. [7] In 1987, Energy Ventures was liquidated and re-established, and by 1990, had acquired Grant Oil Country Tubular Company. [23][24], Precision Drilling de Venezuela and P.D. Weatherford Jobs Careers 2021. Website. [13], On 9 November 2016, Weatherford announced the departure of Bernard J. Duroc-Danner, Chairman of the Board, President, and CEO. Weatherford is an oil and gas service company with a presence in every major oil and gas region of the world. Most often, however, the manufacturing plant at Langenhagen performs its business internally, and is charged with supplying its more than 170 sister entities around the world. The company said that's 25 percent of all of its employees. Drilling Holdings Inc. knowingly sold products that included US goods to Cuba, violating the Trading with the Enemy Act of 1917. Weatherford - Middle East's Largest Energy Portal, which delivers latest news, data, analysis and opinion for the region's Energy Professionals. These, in turn, utilise the company’s products to provide services to clients in the broad areas of drilling, evaluation, completion, production, and intervention. Weatherford International LLC is one of the largest multinational oil and gas industry in the world. Weatherford International, a Houston-based oil and gas company, says it plans on cutting 6,000 workers due to the current oil market. He assumed this position in August 2017. See reviews, photos, directions, phone numbers and more for the best Oil Producers in Weatherford, TX. Perea. According to the US Department of Energy estimates, there are 89 billion barrels of additional oil trapped in onshore reservoirs. 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