Weatherford mulls sale of larger business in bid to pay down debt [Yahoo! Finance News]
WEATHERFORD INTL (WFT)
Last weatherford intl earnings: 2/1 06:50 am
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Source: Yahoo! Finance News
Oilfield service company Weatherford International Plc may have to sell one of its larger businesses next year to pay down its sizeable debt, Chief Executive Officer Mark McCollum said on Tuesday. Last December, Weatherford sold its U.S. fracking equipment business to rival Schlumberger and currently has several other businesses up for sale. Weatherford was hit hard by the 2014 downturn in oil prices and has not posted a quarterly profit since September 2014.
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