Weatherford International plc (WFRD): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind Weatherford International plc (WFRD), a key player in the energy services sector? With a market capitalization of $3.13 billion and $5.51 billion in revenue for 2024, how did Weatherford, providing equipment and services for drilling, evaluation, and production of oil, geothermal, and natural gas wells worldwide, carve out its niche in a competitive industry? Keep reading to explore its journey, from its historical roots to its current operations, to understand how it operates and generates revenue.

Weatherford International plc (WFRD) History

Weatherford's Founding Timeline

Year established

Weatherford was established in 1941.

Original location

The company was originally located in Weatherford, Texas.

Founding team members

The founder of Weatherford is unknown.

Initial capital/funding

Details regarding the initial capital or funding are not widely available.

Weatherford's Evolution Milestones

Weatherford's Transformative Moments

• Expansion into Oilfield Services: Weatherford's transition from radiator springs to cementing and casing equipment in 1948 was a pivotal shift, establishing its presence in the oilfield services sector.
• Management Buyout in 1987: The buyout led by Bernard J. Duroc-Danner marked a return to private ownership and a renewed focus on oilfield services, setting the stage for significant growth.
• Acquisition of EVI in 1998: This acquisition substantially broadened Weatherford's range of products and services, enhancing its competitive position in the market.
• Chapter 11 Bankruptcy and Restructuring in 2019: This was a crucial moment for Weatherford, allowing the company to reduce its debt burden by more than $5 billion and reorganize its operations for future sustainability.
• Focus on Technology and Integrated Services: Post-restructuring, Weatherford has emphasized technological innovation and integrated service offerings to enhance efficiency and sustainability in the energy sector.

Explore more on Weatherford International plc (WFRD) financial performance: Breaking Down Weatherford International plc (WFRD) Financial Health: Key Insights for Investors

Weatherford International plc (WFRD) Ownership Structure

Weatherford International plc features a mixed ownership structure, with a combination of institutional, insider, and retail investors influencing its direction.

Weatherford International plc's Current Status

Weatherford International plc is a publicly traded company, listed on the Nasdaq Stock Market under the ticker symbol WFRD. This means that its shares are available for purchase by the general public, and the company is subject to the rules and regulations set forth by the Securities and Exchange Commission (SEC).

Weatherford International plc's Ownership Breakdown

The ownership of Weatherford International plc is distributed among various types of shareholders. These include institutional investors, individual or retail investors, and potentially company insiders. The following table provides an overview of the ownership breakdown:

Weatherford International plc's Leadership

Weatherford International plc is guided by a team of experienced leaders who oversee the company's strategic direction and operations. Key members of the leadership team as of April 2025 include:

• Girish Saligram: President and Chief Executive Officer
• Arun Mitra: Executive Vice President and Chief Financial Officer
• Dean Bell: Executive Vice President and Chief Human Resources Officer

These individuals, along with other members of the executive team, are responsible for setting the company's strategic goals, managing its financial performance, and ensuring its long-term success. More insights about Weatherford International plc (WFRD) are available at Mission Statement, Vision, & Core Values of Weatherford International plc (WFRD).

Weatherford International plc (WFRD) Mission and Values

Weatherford International's mission and values reflect its commitment to innovation, safety, and sustainability in the energy sector. The company aims to deliver reliable and efficient solutions while upholding strong ethical standards and fostering a culture of collaboration and respect.

Weatherford International's Core Purpose

Official mission statement

Weatherford's mission statement is: 'We are a team of innovators who aspire to solve complex challenges in the energy industry. We partner with our customers to deliver safe, efficient, and sustainable solutions that create value and contribute to a better future.'

• Focuses on innovation and problem-solving within the energy sector.
• Emphasizes partnership with customers to provide solutions.
• Highlights safety, efficiency, and sustainability as key components.
• Aims to create value and contribute positively to the future.

Vision statement

Weatherford's vision statement is: 'To be a leading energy services company, recognized for our innovative technologies, exceptional service, and commitment to creating value for our stakeholders.'

• Aims to be a leader in the energy services sector.
• Stresses the importance of innovative technologies and exceptional service.
• Focuses on creating value for all stakeholders.

Company slogan/tagline

Weatherford's tagline is: 'Solutions Ahead.'

• Represents a forward-thinking approach to solving challenges.
• Suggests the company is proactive in providing solutions.
• Implies a commitment to innovation and progress in the energy industry.

To learn more about Weatherford's investors, check out this related article: Exploring Weatherford International plc (WFRD) Investor Profile: Who’s Buying and Why?

Weatherford International plc (WFRD) How It Works

Weatherford International operates as a global energy services company, providing equipment and services for the oil and natural gas industries. They facilitate the exploration, development, production, and transportation of oil, natural gas, and other liquids.

Weatherford's Product/Service Portfolio

Weatherford offers a wide array of products and services, categorized into key areas to support various stages of well lifecycle. These include:

Weatherford's Operational Framework

Weatherford's operations are structured to deliver integrated solutions that enhance efficiency and safety across the well lifecycle. Key aspects of their operational framework include:

• Global Footprint: Weatherford operates in numerous countries, allowing it to serve a diverse client base and adapt to regional market needs.
• Technology and Innovation: The company invests in research and development to create advanced technologies that improve drilling, completion, and production processes.
• Integrated Service Delivery: Weatherford combines its products and services into integrated solutions, providing comprehensive support from exploration to production.
• Supply Chain Management: Efficient supply chain operations ensure timely delivery of equipment and services, reducing downtime and costs for clients.
• Digital Transformation: By leveraging data analytics and automation, Weatherford optimizes its operations and offers real-time insights to clients, enhancing decision-making and efficiency.

Weatherford's Strategic Advantages

Weatherford's success in the energy sector is driven by several strategic advantages:

• Broad Product Portfolio: A comprehensive range of products and services enables Weatherford to meet diverse client needs across the well lifecycle.
• Technological Innovation: Continuous investment in R&D ensures Weatherford remains at the forefront of technological advancements, offering cutting-edge solutions.
• Global Presence: A widespread operational network allows Weatherford to serve clients in key energy markets worldwide, providing local expertise and support.
• Integrated Solutions: Combining products and services into integrated solutions enhances efficiency, reduces costs, and improves overall project outcomes for clients.
• Strong Customer Relationships: Building long-term relationships with clients through reliable service and customized solutions fosters loyalty and repeat business.

To gain further insights into the company's guiding principles, explore Mission Statement, Vision, & Core Values of Weatherford International plc (WFRD).

Weatherford International plc (WFRD) How It Makes Money

Weatherford International plc generates revenue by providing equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells.

Weatherford's Revenue Breakdown

As Weatherford International operates globally and provides various services, a detailed revenue breakdown by stream and percentage is not available in the provided search results for fiscal year 2024. However, information about their segments and overall financial performance is available, which can help understand the general revenue sources.

Weatherford operates through two reportable segments: Western Hemisphere and Eastern Hemisphere. Revenue is generated through sales of equipment and services within these segments.

Weatherford's Business Economics

Weatherford's business economics are influenced by several key factors:

• Oil and Gas Prices: The demand for Weatherford's services is closely tied to oil and gas prices. Higher prices typically lead to increased drilling activity, boosting demand for Weatherford's equipment and services.
• Drilling Activity: The level of drilling and completion activity directly impacts Weatherford's revenue. Increased activity in key markets drives higher sales.
• Technological Innovation: Weatherford invests in research and development to offer advanced technologies and solutions, which can command premium pricing and increase market share.
• Operational Efficiency: Efficient operations and cost management are crucial for maintaining profitability. This includes optimizing supply chains, reducing overhead, and improving service delivery.
• Global Presence: Weatherford's global footprint allows it to serve diverse markets and mitigate regional economic risks.

Weatherford's Financial Performance

Weatherford's recent financial performance shows significant improvement. Key highlights include:

• Revenue Growth: Weatherford has demonstrated substantial revenue growth in recent years. For example, total revenues for the year ended December 31, 2023, were $7.62 billion, an increase of 21% compared to $6.32 billion for the year ended December 31, 2022.
• Profitability: The company has focused on improving profitability through cost management and operational efficiencies.
• Debt Reduction: Weatherford has made significant strides in reducing its debt burden, strengthening its financial position.
• Liquidity: The company maintains adequate liquidity to support its operations and growth initiatives. As of December 31, 2023, Weatherford had total cash and cash equivalents of $1.24 billion.

To gain more insights into Weatherford International plc, explore: Exploring Weatherford International plc (WFRD) Investor Profile: Who’s Buying and Why?

Weatherford International plc (WFRD) Market Position & Future Outlook

Weatherford International is strategically positioned to capitalize on the growing demand for efficient and sustainable energy solutions, while also navigating a complex and competitive market landscape. The company's future success hinges on its ability to leverage its technological advancements, expand its market reach, and effectively manage potential risks.

Competitive Landscape

Opportunities & Challenges

Industry Position

Weatherford International holds a significant position in the oilfield services sector, distinguished by its comprehensive suite of products and services. The company focuses on:

• Diversified Portfolio: Offering a wide array of solutions across the well lifecycle, from drilling and evaluation to completion and production.
• Technological Innovation: Investing in research and development to create cutting-edge technologies that enhance efficiency and reduce costs for its clients.
• Global Reach: Maintaining a presence in key oil and gas markets worldwide, enabling it to serve a diverse customer base.

For more insights into Weatherford International's financial standing, explore: Breaking Down Weatherford International plc (WFRD) Financial Health: Key Insights for Investors