Not as expected- WFT finished the deal for any cash. SLB is the winner
Schlumberger will take ownership of Weatherford's U.S. pressure pumping and pump-down perforating related facilities and supplier and customer contracts.
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Draining the pond to fish
SLB gets some assets but none of the debt. Pretty good move.
Sounds about right as they prob can’t fool the market to raise more funds?
Weatherford is like a drowning victim. It will do anything to save itself including drowning the rescuer. SLB could smell blood and and took advantage. Wouldn't you do the same if it was your deal?
There is a reason we have a CFO for a CEO. He has been brought in to sell off the parts to monetize the as much as possible. He is not here to run operations or build a great company. Weatherford will not exist as it does now in a year or two.
At this point, the only stakeholders that really matter to Weatherford's CEO are the bond holders. Getting them paid is his #1 priority.
Happy hostages
100 hostages transferred to slcchlumm. In exchange for all the scchhclumm and smit people we keep promotiting and hiring
Yes please do
So WFT got slapped upside the head by Slum. Should I fill out a Radar card to report this ?
Can pay off some of that debt
What happened to the Weatherford Completions department in San Antonio, Texas ???
Winning! Bigly