Thread regarding Weatherford International Ltd. layoffs

Drilling services shut down in the Permian

WFT has pulled all of its assets/ shut down its office and layoff all of its field personnel (4 hands left) in the midland district. Sales managers are sending letters to operators stating that WFT will not take more work until further notice.

This is it, WFT most be getting ready to shut the whole thing down. The Permian will be the first thing to rebound, why would you turn down contracts and lose market share during this time?

I feel for all the good hands that were let go, I know many of them... wish you good luck.

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| 1853 views | | 11 replies (last )
Post ID: @OP+14VMQiIt

11 replies (most recent on top)

Motor failures get attention in the customers offices tho. Ive see xto run wft off location for motor failures. Xto does not play that game at all

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Post ID: @exin+14VMQiIt

Weatherford cannot compete in the Permian on a cost basis. Our overhead is too high. It has never helped matters that they have historically had horrendous management with high turnover as no one in their right mind wants to actually move to Midland. Though, it has progressively gotten better over the last 5 years since I left DS.

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Post ID: @6hbl+14VMQiIt

Inefficiency was the only result of the blue chip transformation!

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Post ID: @3ysb+14VMQiIt

WFT DS Permian has been losing market share for years. All R&M was moved to Houston to supposedly improve quality, but just the opposite happened. Motor failures are common and viewed as no big deal. WFT is too too heavy and inefficient to turn a profit in The Permian. My only regret is that I bet on a loser hoping things would improve. Now I’m unemployed.

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Post ID: @2vfd+14VMQiIt

Yeah, not keeping even a few hands to handle a single job in Midland or PA. Not having the ability to do a basic motor job it’s kind of dumb.

They should lay off those coordinators doing nothing and keep at least a few field guys (which cost far less) and can actually produce some revenue when things start slowly picking up.

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Post ID: @1lbj+14VMQiIt

Pis on the campfire and head out. Anywhere but here

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Post ID: @1kjd+14VMQiIt

Everyone has shut down drilling, not just WFT. Don’t have anywhere to store the oil and the price of oil is to low that you can’t afford to do any drilling.

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Post ID: @cth+14VMQiIt

Drilling Services aka Directional Drilling.

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Post ID: @uny+14VMQiIt

What is drilling services? Rentals, directional drilling, etc???

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Post ID: @xyk+14VMQiIt

Well they also shut down drilling services in the northeast as well. I mean all they had was one poor guy to do everything witch wasn’t much seeing that they had no work for a year. Once Antero pulled the plug that was it for them. Now they are sc-aping everything and shipping the rest to Texas. What a shame as the PA shop was a great location till some d bag messed it up and lost all of the customers.

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Post ID: @qoh+14VMQiIt

Wft will not accept more work. Haha. Thats dumber than fok. Be sure and send out letters saying wft will not accept more work. As if wft is the only service co.

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Post ID: @vnx+14VMQiIt

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