Strong Performance Amid Market Headwinds
Despite significant market headwinds and the impact of divestitures in Argentina, Weatherford delivered strong performance, with significant achievements in the Middle East and North Africa regions.
Sequential Growth in Key Regions
Weatherford achieved sequential growth in the Kingdom of Saudi Arabia and noted noteworthy performances in the Middle East and North Africa, underscoring long-term growth opportunities.
Notable Contracts Secured
Weatherford secured high-impact contracts across key regions, including a 1-year contract with bp in the U.K. and a 3-year contract with Shell in the Gulf of America.
Shareholder Returns
Weatherford paid four quarterly dividends of $0.25 per share and repurchased approximately $186 million worth of shares over the past four quarters.
Strong Balance Sheet
Weatherford's net leverage ratio is less than 0.5x, with approximately $1 billion of cash and restricted cash, and liquidity at approximately $1.3 billion.