Dallas, Texas 11/04/2013 (Financialstrend) – Friday’s trading
In Friday’s trading, Weatherford International Ltd (NYSE:WFT) dropped by 0.43%. The opening price of the shares was $16.40, which climbed to an intraday high of $16.49 and dipped to a close of $16.37. Approximately 9.76 million shares were traded on Friday while an average volume of 6.58 million shares were traded over a 30 day period. The 52-week low of Weatherford International Ltd (NYSE:WFT) shares is $8.84 and its 52-week high is $16.68. The company has a market capitalization of $12.57 billion.
About the company
Weatherford International Ltd (NYSE:WFT) was incorporated in 1972. The company is a provider of equipment & services that are used in the evaluation, drilling, completion, production & intervention of oil & natural gas wells. It operates 4 segments: 1- North America, 2- Latin America, 3- Europe/ the former Soviet Union/West Africa and 4- Middle East/North Africa/Asia. The company operates in more than 100 countries and has manufacturing facilities & sales, service & distribution locations in almost all the oil & natural gas producing regions across the globe.
Weatherford International Ltd (NYSE:WFT) operates in 10 service lines: artificial lift systems, stimulation &chemicals; drilling-services; well-construction; integrated-drilling; completion-systems; drilling-tools; wireline & evaluation services; re-entry & fishing and pipeline &specialty services. Weatherford Switzerland conducts all its operations via its subsidiaries, including Weatherford International and Weatherford Bermuda
Artificial Lift Systems
Various Artificial lift-systems are installed in oil & gas wells that don’t have enough reservoir-pressure to lift available hydrocarbons to surface-levels. These systems supplement natural reservoir pressures and produce oil or natural gas from that well. It provides all kinds of lift, including progressing-cavity pumps, reciprocating rod-lift systems, gas-lift systems, hydraulic-lift systems, plunger-lift systems, hybrid-lift systems, and electric-submersible systems. These are sold via an entity in which it holds a minority investment. Wellhead systems & production optimization are included in this product-grouping.