Weatherford International PLC manufactures drilling, completions, and artificial lift equipment and provides field services with assets in over 75 countries. Operations are divided between the Drilling, Evaluation, & Intervention and Production & Completions business units. The company is registered in Ireland with ordinary shares listed on the Nasdaq (WFRD) exchange.
Weatherford was formed in 1941 as a manufacturer of casing and cementing equipment in Weatherford, Texas. In 1994, Norway-based Odfjell Drilling sold its rental division to Weatherford, and U.S.-based rental and fishing tool company H&H Oil Tool was also acquired. ECD Northwest and Arkansas-based Williams Tool were acquired in 1994 to provide underbalanced drilling services as well as downhole tool company Dailey International. In 1999, the company created the completions division and acquire completions company Petroline WellSystems, liner hanger and packer company Cardium.
The years 2000 and 2001 saw a number of acquisitions. Production acquisitions included artificial lift control company CAC and the artificial lift operations of Axelson and Guiberson Well Service from Halliburton. For Completions, this included the sand screen operation of Oiltools International, Starfield Multilateral, Cidra's optical sensing business, and Johnson Screens. Drilling purchases were Canal-Based Alpine Oil Services including its underbalanced drilling operations, Oil Country Manufacturing (OCM), casing drilling company Brit Bit, and Tesco's underbalanced drilling operations. Scotland-based drilling, fishing, and remediation service provider Orwell was acquired to supplement Well Construction offerings.
The remaining shares in Norwegian optical sensing company Optoplan were acquired in 2002, and Louisiana-based Eclipse Packer was acquired in 2003. The 2005 acquisition of Precision Drilling's energy services division included open and cased-hole wireline, directional drilling, and underbalanced drilling services including Computalog. In 2008, mud logging company International Logging Inc. (ILI) was acquired. Secure Drilling was acquired in 2009. The company filed for financial restructuring in 2019 and emerged from Chapter 11 bankruptcy later that year. Mark McCollum resigned as CEO in June 2020.