NYSE Threatens Weatherford with Delisting Stock

Weatherford stock performance last 6 mo. (click for larger version)

We haven’t written about Weatherford International, the world’s fourth largest oilfield services (OFS) company, since last February. In the past, we’ve posted a number of stories about Weatherford’s financial troubles–and seemingly inevitable march toward bankruptcy (see our stories here). So far, they’ve stayed solvent. We do, however, have another twist in the plot line to tell you about. The NYSE (New York Stock Exchange) has officially notified Weatherford that its stock price has fallen below $1 per share for 30 consecutive trading days, and that if the company can’t get the share price up, the stock will be delisted. Weatherford is telling investors to stay calm, they have a plan and they have six months to comply with the NYSE directive.

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