Raymond James Downgrades Weatherford International (WFT) to Underperform
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Weatherford (WFT) to Sell Surface Data Logging Business for $50M
December 17, 2018 6:53 AM ESTWeatherford International plc (NYSE: WFT) today announced it has signed a definitive agreement to sell its surface data logging business to Excellence Logging for $50 million in cash.
As part of the agreement, Weatherford will sell all of its surface data logging equipment, technology and associated contracts and will transfer the related personnel to Excellence Logging. While with this transaction Weatherford will exit the surface data logging business, it plans to continue to maintain a close and collaborative relationship with Excellence Logging to provide bundled and integrated services... More
