Chasing Corporations Out Of The U.S. Nov 17, 2009
Tyco International, Foster Wheeler, Weatherford International, Nabors Industries, Noble Corp., TransOcean International, United America Indemnity, Cooper Industries, Covidien, Ingersoll-Rand and Accenture have all completed or taken steps to change their domicile of incorporation, with Switzerland and Ireland as the most popular relocation destinations. Commenting on his company's decision, an Accenture board member asked, "What shareholder would ever vote to incorporate in a country that taxes... (Investors Business Daily)
Pemex Plans to Boost Drilling at Chicontepec Amid Declines, Kessel Says Nov 6, 2009
8 billion of contracts for Chicontepec to international oil services companies including Weatherford International Ltd. and Schlumberger Ltd. Pemex is planning to spend a record $19. 5 billion this year on production and exploration. (Bloomberg -- Latin America)
Unitil posts 3Q loss of $600,000 Oct 24, 2009
Weatherford International 3Q profit drops 79 pct. Weatherford International Ltd. on Monday said weakened demand for North American drilling slashed its third-quarter profits by 79 percent, but an uptick in international revenue helped soften the blow. (Fresno Bee -- Business)
Out of focus: Heebner fights tide with new hedge fund Aug 26, 2009
While Heebner is long on oil-service industry stocks such as Weatherford International Ltd. (NYSE: WFT) and Schlumberger Ltd. (NYSE: SLB), he bet against a rebound among some bank stocks. In fact, Focus at midyear said it had about 14 percent of its assets invested in stocks sold short. (Boston Business Journal, MA)
Joint-venture paves way for geothermal energy Aug 8, 2009
A 70-day drilling campaign has begun at Paralana following the leasing of a $40 million custom-made drilling rig commissioned from Weatherford International in Dubai. If successful, Petratherm, along with joint-venture partners Beach Petroleum and TRUenergy, hope to have Australia's first commercial geothermal energy supply by 2011. (Sydney Morning Herald -- Business)
Halliburton 2Q earnings plummet Jul 21, 2009
Weatherford International Ltd. said its second-quarter profit dropped 89 percent, also from weakened commodity prices that drove down the global rig count and demand for services. Industry bellwether Schlumberger Ltd. is scheduled to report second-quarter results Friday. (The Star Online, Malaysia -- Business)
Oil hovers below $64 as earnings, demand weighe(update) Jul 21, 2009
Profits for oil service companies like Halliburton Co. and Weatherford International Ltd., which both reported second-quarter earnings Monday, have plummeted all year long.. Natural gas, which had been trading up all morning, fell about a dime to $3. (The Star Online, Malaysia)
The Fed: It's Not Easy Being Ben Jun 25, 2009
A few told me that they might have to consider scrambling their headquarters out of the U.S. Last December, Weatherford International () said it would forsake the pink sand beaches of Bermuda, where it's been domiciled since 2002, to set up shop in Switzerland. Transocean (), domiciled in the Cayman Islands, made a similar announcement in October. (BusinessWeek)
Halliburton: Large acquisition just a matter of time Jun 19, 2009
Two of its listed, Houston-based competitors, Cameron International and Weatherford International, have recently announced large acquisitions, and while Halliburton has allocated funds for acquisitions, it hasnt made any in 2009 yet. It has worked with law firms Baker Botts, Mayer Brown and K&L Gates on past deals. (FT.com -- Markets)
US tax plan: Accenture to move Ireland May 28, 2009
Companies such as Tyco International Ltd and Tyco Electronics Ltd, Weatherford International Ltd and Foster Wheeler Ltd have also announced plans to move to incorporate in Europe. Around 44 percent of Accenture's revenue last quarter was from the Americas region, while 46 percent was from Europe, Middle East and Africa. (India Times, India)
4-Star Stocks Poised to Pop: Parker Drilling May 22, 2009
Weatherford International (NYSE: WFT). CAPS members bullish on PKD also bullish on. (MSNBC -- Business)
Houma-Thibodauxs economic engine begins to sputter Mar 30, 2009
Analysts who study large, publicly traded, oil-service companies like Schlumberger, Halliburton, Baker Hughes and Weatherford International are mostly cautious about what s in store. I don t think everyone understands how slow it s gotten, said Pierre Conner III, managing director for oilfield-services research at Capital One Southcoast, a New Orleans investment company. (WWLTV.com, LA)
Mexico becomes viable option for energy needs Mar 27, 2009
According to Pritchard Capital Partners LLC, a New Orleans-based energy research firm with offices in Houston, Weatherford International Ltd. is the frontrunner for another 500-well contract expected to be announced in the next few weeks. Overall, Mexican officials have estimated that maximizing Chicontepec could be a $30 billion endeavor over the field s life, which doesn t sound like too much trouble for one of the biggest oil companies in the world, one with $77 billion in revenue in 2008... (Houston Business Journal, TX)
The Mistake Everyone's Making Now Mar 27, 2009
Weatherford International (NYSE: WFT). 26. (MSNBC -- Business)
Xtreme Coil Adds Two Rigs in Mexico Feb 28, 2009
CALGARY, ALBERTA--(Marketwire - Feb. 27, 2009) - Xtreme Coil Drilling Corp. ("Xtreme Coil", the "company") (TSX: - ) announces the expansion of existing operations in Mexico following execution of a new drilling contract with a Weatherford International subsidiary. ADVERTISEMENT. (CCNMatthews Press Releases)
Asian Stocks Lower as Investor Mull US Bank Plan Feb 26, 2009
Traders gather at the post of Weatherford International Ltd. on the floor of the New York Stock. Traders gather at the post of Weatherford International Ltd. on the floor of the New York Stock Exchange, Wednesday, Feb. 25, 2009. (ABC News -- Wire)
Standard & Poor's Announces Changes to U.S. Indices Feb 14, 2009
Diamond Offshore Drilling Inc. (NYSE: ) will replace Weatherford International Ltd. (NYSE: ) in the S&P 500 on a date to be announced. Weatherford is in the process of redomesticating to Switzerland, rendering it ineligible for continued inclusion in the S&P 500. (PR Newswire)
Iraq's oil fields beckon, but foreigners wary Feb 9, 2009
And U.S. firm Weatherford International Ltd. has a deal to operate in Rumaila North and in the Zubair oil field. But they have few if any workers on the ground in the country's oil-rich south, which accounts for about 80 per cent of Iraq's oil production. (Globe and Mail -- Business)
