Any news on the WFT and SLB OneStim Joint Venture ??
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One stim is on hold. Slum will wait another month and pick up all of Weatherford for the same money they were paying for the JV
Don't know what WFT can bring to the table other than worn out frac equipment, composite frac plugs that are to hard to drill out and frac/toe sleeves that don't open !!!
6-15-2017 WFT stock price at 52 Week Low today at $3.69 !
$3.77
6-15-2017 WFT stock price at $3.96 !
I am guessing it died on the vine.
I guess it's looking like this joint venture isn't going to happen.
What does Weatherford International’s stock price imply?
Weatherford International’s stock price has generally been trending downward in the past year. Although WFT’s quarterly revenues remained steady in the past three quarters, its earnings continued to deteriorate. That was because demand for OFS products and services crumbled in the past several quarters. WFT’s cash flows were negative in three of the past four quarters, further suggesting trouble in the OFS space. Weatherford’s joint venture agreement with Schlumberger, the largest OFS company, was announced in March 2017. It could provide some support to WFT stock. You can read more on this at Inside Weatherford’s JV with Schlumberger.
I hope the smart ones come from SLB. We need all the help we can get !
Check is in the mail.