Thread regarding Weatherford International Ltd. layoffs

I just saw a golden parachute go by my office window at SJP.

Today (2/27/2018) Energy Stocks are trading higher, while WFT is lower, at the moment. $2.92. There was hardly any bounce off the lows. $3.00 is now resistance. I would say this stock will be trading below $2.00 soon. May take until next year when their debt financing falls apart before they declare bankruptcy. Or could be sooner if another financial shenanigan comes to light. I would think a major vendor would pull out soon and then deliveries would collapse. That could lead to 1 real bad quarter for Weatherford. And the end of the stock, and the fleeing of the rats in the c-suite.

I wouldn't say the writing is on the wall just yet. It's still hanging in the Ballance. They are making the right moves to try and climb out of this mess that Mr Danner made. As for short changing and squeezing customer every company is doing this atm if you are working in the field you will see this. Let's wait and see if anyone will buy these 600 million of senior notes.

Believe it or not, it’s a decent move. They need to renew their revolving credit line this year, no bank would even think about it if they had this bond maturing next year and would use their credit line to pay it. Had no choice.

Waiting for a break above $3.11 for a free ride to and then possible short at around $3.78 back to $3.30 or so. Can always add around $2.65-2.70 if price action remains flat. If so, will be watching the week of March 5-9 for a set up or short term technical break to the upside. Cheers!

As a point to look at, go to annual report and review employment contract for exCEO and you’ll find bonus was tied to securing funding, that and getting rid of pressure pumping.

What do you think is in the new employment contracts for top C suite folks.

That doesn't change anything in the operations of the company. They will continue to short change their vendors, squeeze everything they can out of them. Making it difficult to build relationships with suppliers. WFT will continue mismanaging things and losing money. All this does is delay the inevitable. Banks will walk away soon, only a matter of time. The debt that was convertible to stock is now only debt, and future deals will be harder to make with s---er banks. Look deeper into the refinance and you will see they gave away the farm again. CFO just trying to keep his job again. He will probably soon quit, as did the last one after giving away the farm.

Let’s just wait and see what direction its headed to. From being on the inside I am not getting the warm fuzzies like others are.

So, you’re saying it’s going to take longer for my investment to make it to zero.