Weatherford Second Quarter Highlights:
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Total cash of $756 million as of June 30, 2020, a decrease of $8 million from March 31, 2020
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Signed financing commitment for $500 million of new senior secured first lien notes subject to certain closing conditions
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Cash flows from operations of $31 million and unlevered free cash flow of $108 million
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Operating loss of $497 million and adjusted EBITDA of $79 million
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Cost savings plan expanded to deliver an expected $650 million of savings in 2020, of which approximately 85% has been implemented
Source: Weatherford
