{"id":11085,"date":"2019-10-31T01:32:53","date_gmt":"2019-10-30T20:32:53","guid":{"rendered":"http:\/\/umang.pk\/2019\/10\/weatherford-posts-821-million-loss-during-third-quarter\/"},"modified":"2019-10-31T01:32:53","modified_gmt":"2019-10-30T20:32:53","slug":"weatherford-posts-821-million-loss-during-third-quarter","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/10\/31\/weatherford-posts-821-million-loss-during-third-quarter\/","title":{"rendered":"Weatherford posts $821 million loss during third quarter"},"content":{"rendered":"
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    Weatherford International, an oilfield services company headquartered in Switzerland and Houston, lost $ 81 million over three quarters, causing the company's 19th consecutive loss.<\/p>\n

    Next: Take a look at your local energy company's recent performance.<\/b><\/p>\n

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    Weatherford International, an oilfield services company headquartered in Switzerland and Houston, lost $ 81 million over three quarters, causing the company's 19th consecutive loss.<\/p>\n

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    \n Photos: Sergio Chapa \/ Houston Chronicle
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      Weatherford International, an oilfield services company headquartered in Switzerland and Houston, lost $ 81 million over three quarters, causing the company's 19th consecutive loss.<\/p>\n

      Next: Take a look at your local energy company's recent performance.<\/b><\/p>\n

      less<\/p><\/div>\n

      \n

      Weatherford International, an oilfield services company headquartered in Switzerland and Houston, lost $ 81 million over three quarters, causing the company's 19th consecutive loss.<\/p>\n

      … more<\/p><\/div>\n


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      \n Photos: Sergio Chapa \/ Houston Chronicle
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      Weatherford loses $ 88 million during the third quarter<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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      Weatherford International, an oilfield services company headquartered in Switzerland and Houston, lost $ 81 million over three quarters, causing the company's 19th consecutive loss.<\/p>\n

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      Weatherford did not host import calls like most publicly traded companies did, but reported nearly 1 billion losses filed to the US Securities and Exchange Commission Wednesday afternoon.<\/p>\n

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      The bankrupt company's $ 81 million loss on sales of $ 1.3 billion fell sharply from $ 190 million in losses of $ 1.4 billion in the third quarter of 2018.<\/p>\n

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      Shale Slump:<\/strong> Weatherford lowers sales expectations when market conditions are more difficult<\/p>\n

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      Weatherford was considered the fourth largest oilfield services company in the world, but it is still arranging Chapter 11 bankruptcy and reorganization issues.<\/p>\n

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      Third quarter performance comes two weeks after the company has lowered its sales expectations by 2022 in poor market conditions.<\/p>\n

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      Weatherford recorded a loss of $ 818 million in the third quarter, $ 429 million for its asset value, and $ 234 million for reorganization costs.<\/p>\n

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      Fuel Modifications:<\/strong> Get daily energy news headlines from your inbox<\/p>\n

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      As its roots date back to 1941, Weatherford has grown to be the fourth largest oilfield services company in the United States, but in the process, it has raised $ 10 billion in debt.<\/p>\n

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      Headquartered in Switzerland, but based in Ireland and its headquarters in Houston, Weatherford has not made a profit since the third quarter of 2014.<\/p>\n

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      A troubled oilfield service company filed for Chapter 11 bankruptcy in Houston in July, and in September applied for similar protection to an Irish court.<\/p>\n

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      Read the latest oil and gas news at HoustonChronicle.com<\/strong><\/p>\n

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