The new Weatherford CEO is reportedly in the process of undoing his predecessor’s hydraulic fracturing business plan.
If what we’ve been told by industry contacts is true, Krishna Shivram (pictured left) is throttling back frac operations in dramatic fashion. This would be the second big move he’s made in three weeks at the helm, the first being a fund raise in Bernard Duroc-Danner’s wake.
In this post, we unveil information from our industry contacts, cover what this means for Weatherford, and discuss what it means for the frac business as a whole (take a free trial to read more).
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