As the title says, it could be default time!
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This is what happens with a bunch of Ex Schlumberger managers running the show. Weatherford will be remembered as a cautionary tale of what NOT to do.
Didn't realize it was that bad.
Just take out a loan to pay this one. Basic finance.
Owe 360MM end of Q1, have 151MM free cash. Owe near 7B total. Q1 2016 payment is going to be tough to make!!! Something big is going to happen in the next 9-10 weeks.
How much do we owe and how much is the payment?
The banks who else do you think?
Payment to who?
Oil prices continue to drop to a 11 year low..
Only but themselves.
The end of WFT is coming closer by the hour. Rated now at junk status with unpayable debts mounting by the day. Nobody in there right mind would consider buying, even for asset stripping. Black depressing outlook for all. Who is to blame for this travesty?
I think me burn through cash fairly quickly