Weatherford International Ltd fka WFTQ

[PennyP1cker]

Quarterly revenue up...

"...Weatherford is on the verge of selling its international land rig business, which is largely based in the Middle East, in the coming weeks or months.

Weatherford posted financial losses in both the Western and Eastern hemispheres, but much of its quarterly loss came from $1.68 billion in asset write downs. That includes nearly $1 billion from the planned sale of its land rig business, $230 million from a big drop in business in economically suffering Venezuela, and most of the rest came from older equipment that was scrapped.

It's nearly $1.5 billion in quarterly revenues were up 6 percent over the year prior, but its $5.7 billion in annual revenues fell 1 percent from 2016..."
https://www.chron.com/business/energy/article/Investors-spooked-after-struggling-Weatherford-s-12552406.php
Selection from:
Houston Chronicle
Jordan Blum, Author
Feb 5, 2018