The high debt load is what's keeping us afloat. No lenders will call in the loans as they will get nothing for their investment. Other companies probably won't be interested in trying to buy us out (hostile or friendly) as they wouldn't want to take on our debt load, and the shareholders probably wouldn't approve a friendly takeover the the price offered for each share will be less than what they paid for it.
The way I see it, we will most likely get left alone until things turn around (either the market, which will carry us with it, or the company itself if they can get their act together).
It's just like the banks not kicking out house buyers who are underwater on their mortgage and can't make the payments. They certainly don't want to own the house and are happy to just the the homeowner pay whatever they can each month.
Certainly an interesting view on the situation at Weatherford that I found on another thread ( @W7Lyr5H-1znn )