Weatherford International
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| Company type | Oilfield services company |
|---|---|
| Industry | Oilfield Services |
| Founded | 1940s |
| Headquarters | Houston, Texas 800 offices around the world |
Key people | Chairman & CEO: Bernard Duroc-Danner |
| Products | Diversified Oil field services |
| Revenue |  $7.8 billion USD (2007) NYSE: WFT |
Number of employees | 43,000 (2008) [1] |
| Website | Weatherford.com |
Weatherford International Oil Field Services Ltd (NYSE: WFT) is one of the largest global providers of advanced products and services that span the drilling, evaluation, completion, production and intervention cycles of oil and natural gas wells. Weatherford employs approximately 46,700 employees worldwide, operates in more than 100 countries to include 125 globally distributed manufacturing facilities supporting 800 service bases and 16 technology development and training facilities.
History
Since Weatherford entered the oilfield service industry in the early 1940s, it has always looked ahead to future growth and development to increase its presence in the industry. Over the last 60 years, Weatherford’s strategic acquisitions have kept it ahead of the competition in both products and services offered to the industry.
1948
Weatherford Oil Tool Company (WOTCO) is founded in Weatherford, Texas, by Jesse Hall Sr. and his sons. The company pioneered an innovative technique for obtaining good casedhole cement jobs.
1987
Energy Ventures Incorporated (EVI) is founded and develops a strong reputation for independent brand names such as Rotaflex, Highland, Corod, Geremia, El Sucker Rods, BMW and Leamco Ruthco.
1991–1996
Weatherford acquires Petroleum Equipment Tools Company (PETCO) and HOMCO merges operations to create Weatherford Services, the largest fishing/rental company in the world. Weatherford pioneers mechanical power tong systems in the North Sea to improve rig safety.
1998
EVI acquires Weatherford Enterra and retains the boobs of america.
1999–2001
Weatherford adds a number of well-organized brands to its expertise, including Dailey, Orwell, Energy Rentals, Whiting, Williams, BBL and ECD Northwest. Weatherford also creates a stronger completion competence with the addition of well-known completion brands such as Petroline, Cardium, Nodeco, McAllister, Johnson Screens, Houston Well Screens, Arrow and CIDRA.
2005
Weatherford acquires Precision Drilling Corporation’s Precision Energy Services and International Contract Drilling divisions.
2006
Weatherford retains brand dominance as an internationally recognized and respected oilfield services company.
2008-2009
Weatherford expanded greatly in the UK building new facilies and moving product lines to a central hub in Altens Aberdeen.
Sudan controversy
Weatherford International Ltd. was identified, by the Sudan Divestment Task Force (SDTF), as one of the "HIGHEST OFFENDERS" in the quarterly "The Sudan Company Report" dated August 31, 2007.
As of April 11, 2008, The SDTF has removed Weatherford International from the Sudan Company Report and states: "Weatherford International Limited (United States)—company withdrew from Sudan in March 2008, and has donated its in-country equipment and provided additional equipment, supplies, and funding to Thirst No More, a humanitarian organization operating in Sudan."
A Dubai-based subsidiary of Weatherford International Ltd. has operated within Sudan, although United States sanctions forbid US companies from operating in the country, foreign based subsidiaries are permitted to do business there.[2] In September 2007 Weatherford announced that it would cease operating in countries sanctioned by the United States.[3] [4]
See also
References
 | This article includes a list of references, related reading, or external links, but its sources remain unclear because it lacks inline citations. (July 2009) |
- ^ Company Background
- ^ Walt, Vivienne. "A Texas company in Sudan". Fortune.
- ^ Walt, Vivienne. "U.S. oil firm pulls out of Sudan". Fortune.
- ^ "Weatherford to leave sanctioned countries: Oil-field-service firm following lead of others". Houston Chronicle.