Service & Supply | Oilfield Services
Weatherford Predicts Higher Income, Low Operating Costs in U.S. Market
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Weatherford International Ltd. reported results for the second quarter ended June 30, 2013.
Second Quarter 2013 Highlights: $0.15 per diluted share (non-GAAP), or net income of $116 million excluding after-tax losses of $234 million; Estimated $153 million potential FCPA and Oil-for-Food settlement with the U.S. government; Free cash flow increased by over $200 million sequentially, driven by working capital improvements; Capital expenditures, net of lost-in-hole, declined 26% compared to the prior year quarter; Revenues of $3,868 million were 3% higher than the same period last year, and up 1% sequentially; International revenues of $2,339 million were up 12% over the same period in 2012 and up 9% sequentially; Eastern Hemisphere operating income margin expanded 155 basis points…Finish this article — free account or subscription
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