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When did Weatherford become such a shitty stock?
Posted on 1/2/19 at 4:29 pm
Posted on 1/2/19 at 4:29 pm
quote:
Weatherford's stock price is so low that it received a notice from the New York Stock Exchange that its shares are no longer in compliance with its listing standards (a stock can't trade below $1 for 30 consecutive days). So chances are company management will have to do something. That could be as simple as a reverse split to reduce its share count.
Whatever it is, though, the overarching theme for long-term investors is to stay away. This company looks to be teetering on the brink of solvency, and it will take an incredible uptick in its business for it to keep the lights on.
LINK
I remember about a decade ago Weatherford went toe to toe with Schlumberger, especially in the wireline logging business. What a dramatic fall it has been.
7
Posted on 1/2/19 at 5:16 pm to saintforlife1
A decade of throwing around borrowed money at all sorts of different ventures, with nothing sticking.
Yet another example of a company that has completely lost their way.
Yet another example of a company that has completely lost their way.
Posted on 1/2/19 at 5:30 pm to saintforlife1
I remember owning that stock in the high teens.
Posted on 1/2/19 at 5:48 pm to saintforlife1
Good time to buy??? 
Posted on 1/2/19 at 7:24 pm to LSUFanHouston
quote:
A decade of throwing around borrowed money at all sorts of different ventures, with nothing sticking.
Plus oil prices tanking.
Posted on 1/2/19 at 9:17 pm to saintforlife1
I knew several people that worked for them in Houston. They were all gone by 2015, but the writing was on the wall before then. They were overleveraged in 2015 downturn and got murdered.
As someone said above, they borrowed too much and threw it into wasteful ventures.
As someone said above, they borrowed too much and threw it into wasteful ventures.
Posted on 1/3/19 at 8:10 am to mule74
I distinctly remember back in the day when "Wedahfut" and Schlumberger were seen as peers. The baws down at the shop in Broussard always spoke in glowing terms about them. Sad...
Posted on 1/3/19 at 9:24 am to tigerpawl
Another to watch for potentially going under is Hornbeck, they have tanked hard this go around.
Cheaspeake to.
Cheaspeake to.
Posted on 1/3/19 at 9:28 am to cwill
quote:
Plus oil prices tanking.
$80 a barrel oil probably would have offset a lot of their crappy capital allocation decisions. The company would have had no growth, but probably wouldn't be crashing and burning, either.
Posted on 1/3/19 at 9:30 am to GREENHEAD22
quote:
Cheaspeake to.
I don't think they're at a significant risk to go under.
Posted on 2/1/19 at 12:11 pm to saintforlife1
It's up to .80 right now. I have doubled my money. Should I get out now?
Posted on 2/1/19 at 12:28 pm to GREENHEAD22
Chesapeake just made a deal to acquire WildHorse Resources. 3.98B.
Posted on 2/1/19 at 2:13 pm to saintforlife1
After barry left.
Posted on 2/1/19 at 2:28 pm to DWaginHTown
it was shite when i got laid off as well
Posted on 2/1/19 at 3:02 pm to DWaginHTown
quote:
After barry left.
I was doing all i could to keep it afloat.
Knew i didn't want my career attached to that sinking rock.
Posted on 5/11/19 at 9:35 am to barry
They filed chapter 11. Surprised it took this long. I started my oil filed career with em and got back into the patch working for em for about a year. You can see the day I gave my notice in November last year on their stock price.
Posted on 5/11/19 at 5:28 pm to saintforlife1
quote:
I remember about a decade ago Weatherford went toe to toe with Schlumberger, especially in the wireline logging business.
Never ever
You must be mistaking WFT for BHI but I’m not really sure how that’s possible when it comes to wireline.
Baker still goes toe to toe with SLB.
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