On February 2, Weatherford’s new CEO Krishna Shivram will talk to investors for the first time as the boss of the company. He’s got some work to do. The market will be looking for a restoration of confidence. That means Krishna needs to have a story for the new Weatherford …
Read More »The New Weatherford CEO Won’t Frac For Free. So Will He Take One Million Horsepower Off The Market?
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 …
Read More »Weatherford Captures The “Bernard” Effect By Raising A Billion Bucks In 24 Hours
On Wednesday morning (11/16), Weatherford sold 84.5mm shares at $5.40/share in a registered direct equity offering for $456mm. Last week, Infill Thinking predicted that Weatherford would raise equity capital following the stock’s 33%+ gain on CEO Bernard Duroc-Danner’s departure. The market reacted positively to today’s equity raise, Weatherford’s stock rising another 3% …
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