Yahoo Finance Weatherford International, Fracking Asset Sale, Analysts 2018 Oil Industry Outlook
NEW YORK, NY / ACCESSWIRE / January 17, 2018 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on Weatherford International plc (WFT), one of the largest multinational oilfield service companies providing solutions, technology, and services to the oil and gas industry.
On 29th Dec, the company announced it had sold its U.S. pressure pumping and pump-down perforating assets to a subsidiary of Schlumberger Limited. The closing of this transaction represents another step toward Weatherford unlocking value. Although not as initially anticipated, this deal delivers cash proceeds that enable the Company to begin the deleveraging process and, coupled with its transformation plans, could lead to a leaner organization with lower debt.
Read the details of the Schlumberger deal, and get a review of the oil market here: READ MORE.
Copy and paste into your browser may be required to view the report - http://bit.ly/2mJHT3o-WFT-Analyst.
As per an industry report from Deloitte, the cost reductions achieved by US unconventional producers have been significant. The question coming into 2017 was whether these reductions were sustainable. The evidence seems to tell us they are, with break-even costs across the major US shale plays still 30-50 percent below the levels of early 2015.
If this is indicative of the path for oil, costs may stay down for a long time. However, it's also important to remember that a healthy industry also needs a healthy ecosystem of producers, service providers, manufacturers, etc. Although producers are surviving, and in some cases growing again, many in the oilfield services industry continue to suffer, and further consolidation may be in the cards.
Get the Q3 highlights from WFT and a financial review, as well as an analysts opinion, READ MORE.
Copy and paste into your browser may be required to view the report - http://bit.ly/2mJHT3o-WFT-Analyst.
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