Actionable news
0
All posts from Actionable news
Actionable news in WFT: WEATHERFORD INTERNATIONAL PLC,

Weatherford: Financing Venezuela's PDVSA Could Amplify Negative Cash Flow

Summary

Venezuela's state oil company signed agreements with Weatherford and Halliburton to finance its oilfield services needs.

The deal helps Weatherford and Halliburton maintain revenue with the country.

WFT's Q1 cash of $464MM paled in comparison to that of HAL ($9.6b) and SLB ($14.4B).

Its Q1 cash flow was -$205MM. Financing Venezuela's oilfield services could amplify WFT's negative cash flow.

Last month Venezuela state-owned oil company PDVSA announced it signed financing agreements with oil services companies Weatherford (NYSE:a>


More