As reported in a recent article in Forbes, 'Blue Skies' may be ahead for Weatherford.
While it's previous management had been criticized as 'incompetent' and it's services not up to par in quality or quantity than that of it's peers, things may be turning a corner.
On Wednesday Weatherford announced a multi-step debt financing plan. As a result, it's shares jumped some 8% on the news to nearly $3 per share (however, they later dropped back to $2.82).
According to Bill Herbert, a senior research analyst at Piper Jaffray's Simmons & Co, it's a welcome development that could provide Weatherford with "much-needed breathing room" over the next two years.
"At some point, however, structurally fortifying the balance sheet needs to take place in a vigorous fashion as the debt maturity slate beyond 2019 is unrelenting," Herbert continued, noting that it would require boosting cash flow and selling more non-core assets, among other things.
While many other analytists suggest that there are far better bets (Analysts at Tudor, Pickering have said "Look elsewhere within the large/mid-cap OFS [oilfield services] landscape (our favorite is Halliburton) for geographic and product/service portfolio diversity.")
Currently, Weatherford shows close to 150 jobs available in the US at the moment, down slightly from the last update to Energy Job Shop where Weatherford had 157 openings.
[su_button url="https://www.oilfieldjobshop.com/usa-companies-hiring/baker-hughes-hiring-big-time-across-us/" background="#0a2440" size="10" radius="0" icon="icon: star"]View Weatherford Jobs Here[/su_button]
