Girish Saligram, Weatherford CEO
Oilfield services companies (OFS) have not had an easy time over the past half-decade or so. In May 2019, OFS company Weatherford International, once the fourth largest OFS company in the world, announced it was filing for a “prepackaged” bankruptcy (see Weatherford Finally Files for “Prepackaged” Bankruptcy). In December 2019 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”). Now on its third CEO in three years, Weatherford is beginning to rebuild.
To view this content, log into your member account. (Not a member? Join Today!)
