Some said we'd be gone by q3, some aint no idea
https://www.rigzone.com/news/weatherford_secures_fouryear_eni_contract-10-jul-2020-162681-article/?amp
11 replies (most recent on top)
Does the DDV even have any engineering or manufacturing support left? Good luck fulfilling that contract.
turn out the lights the party's over, you know that all goods things must end, the last ones out get nothing while the trump extra $600.00 per week unemployment ends at the end of july..
Our debt is $2 billion at least, our market cap as of Friday’s close is $127 million. The market is telling us we are toast. Even if we went cash flow positive in Q2 all of the product lines, bar completions, have next to no orders after July, therefore we need to restructure the debt again. I’m not sure we get out of this one as the market environment is far more uncertain than 2019.
How much is the 4 year contract ? Well I guess at least it’ll help to cover some of the additional monthly $370k payment the CEO is making.
Just another legacy risk that we all get to pay for in liability costs. I still say wfr was broke 100 million $ ago. Wait til one of them fails and blows out all over hel tell us again how much we made
Probably cost upwards 2 million to develop (a good portion ENI paid for). Probably selling to ENI for 150k to 200k per unit. Story looks good for the press but really doesn’t do much to mitigate the downward spiral WFT has no chance of stopping!
Weatherford don’t mention they lost the Eni master contract in Italy, so the infinitesimal gain on the DDV valves that Eni will use in Egypt won’t outweigh the huge losses incurred on losing the main Italian contract. Bunch of clowns.
Stronger than ever for 30 valves?
What’s the top line revenue and what does the bottom line look like on this contract fully burdened (after COGS, Operating expenses, global overhead, G&A, etc)?
Pretty sure WFT to make concessions given the current climate. Operators are not in the charity business right now
Lots of bitter on this thread.
Right. This is not a really big contract wft will probably lose money on it and eni is going to be stuck wif orphaned technology. Haha
One contract for four years will not save Wft my friend. If you believe this, I have some ocean front property in Arizona I will sell you. Let's see what the 2nd Qtr results will show. You can crawl back in your fantasy world now 'foreverwft'. HR needs to d–g test you.