I've long been fond of the expression "if it doesn't make dollars, it doesn't make sense," and I'm glad to see that Weatherford (NYSE:WFT)
has gotten serious about adopting a similar philosophy. Back in March,
the company sold its pipeline and specialty service business to Baker Hughes (NYSE:BHI)
and before that the company sold its Russian ESP business for about
$400 million. Now Weatherford has sold its Russian and Venezuelan
drilling rigs and in doing so not only got a decent price but also
improved the prospects for its drilling rig IPO. Weatherford has done
quite well on the back of increasing optimism around energy services and
for its specific restructuring opportunities and there is still more
upside from here.
Read the full article here:
More Addition By Subtraction At Weatherford
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