In May 2019, Weatherford International, the world’s fourth-largest oilfield services (OFS) company, finally succumbed and announced it was filing for a “prepackaged” bankruptcy (see Weatherford Finally Files for “Prepackaged” Bankruptcy). In December the company emerged from bankruptcy having wiped out $6.2 billion of debt by giving new stock to debtholders and making its existing stock worthless (see Weatherford Emerges from Bankruptcy “Stronger” and “More Focused”). Is history about to repeat itself?
In May 2019, Weatherford International, the world’s fourth-largest oilfield services (OFS) company, finally succumbed and announced it was filing for a “prepackaged” bankruptcy (see 