About Weatherford Oil & Gas
Weatherford is one of the world's largest multinational oil
and natural gas service companies. The company provides products and services
for drilling, evaluation, completion, production and intervention of oil and
natural gas wells, along with pipeline construction and commissioning.
Headquartered in Switzerland, Weatherford operates in more than 100 countries
across the globe and employs more than 35,000 people (2016). Weatherford
International plc (NYSE: WFT) has been selected for inclusion in the Euronext
Vigeo World 120 index, which is composed of the 120 most advanced companies in
the European, North American and Asia Pacific Regions. The Company also
maintained its inclusion in the Euronext Vigeo US 50 index. Inclusion in these
indices is effective June 1, 2016
The company was founded in 1941 in Weatherford, Texas as the
Weatherford Spring Company by Jesse E. Hall Sr.In 1948, the company was renamed
Weatherford Oil Tool Company (WOTCO) with ownership by Jesse Hall, his son,
Elmer, James E. Berry, and Juan A. Perea.From its inception, the company
pioneered an innovative technique and equipment for the cementing of cased-hole
oil wells. Originally marketed to U.S. well owners, Weatherford drilling and
casing equipment was soon being used in the oil fields of Venezuela by the Gulf
Oil Company.
In 1972, the separate company of Energy Ventures, Inc. was
founded as an offshore gas and oil exploration and production company.[6] In
1987, Energy Ventures was liquidated and re-established, and by 1990, had
acquired Grant Oil Country Tubular Company.
In 1991, Weatherford acquired Petroleum Equipment Tools
Company (PETCO).Weatherford and HOMCO later merged operations to create
Weatherford Services, the largest oil fishing/rental company in the world. In
1995, Weatherford merged with Enterra, becoming Weatherford Enterra Inc.
In May 1998 Energy Ventures, since renamed EVI, Inc. and
Weatherford Enterra, Inc. merged, creating the current company now known as Weatherford.
In the next two years, Weatherford added a number of well-organized brands to
its expertise, including Dailey, Orwell, Energy Rentals, Whiting, Williams, BBL
and ECD Northwest. Weatherford also created a stronger completion competence
with the addition of well-known brands in the sector such as Petroline,
Cardium, Nodeco, McAllister, Johnson Screens, Houston Well Screens, Arrow, and
CIDRA.
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