Weatherford International plc (OTC Pink: WFTLF) ("Weatherford" or the "Company") today announced that it has publicly filed a Form 10 Registration Statement ("Form 10") with the United States Securities and Exchange Commission ("SEC") to register its ordinary shares pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), with no additional shares to be offered for sale.
The Company's voluntary filing of the Form 10 is subject to SEC review and, upon its effectiveness, Weatherford will be subject to the reporting requirements of the Exchange Act. In conjunction with the Form 10 becoming effective, Weatherford intends to list its ordinary shares on the NASDAQ stock exchange under the ticker symbol "WFRD", subject to approval from NASDAQ and the Company's compliance with the applicable listing requirements. Weatherford currently expects the registration and listing process to be complete in the second quarter of 2021.
Girish Saligram, President and Chief Executive Officer, commented, "We are excited to announce that we have filed our Form 10 Registration Statement. This is an essential step for the Company to fully return to the public markets. We believe this is the right time in our reemergence to relist on the NASDAQ stock exchange and that doing so will enhance long-term shareholder value by improving the Company's visibility, expanding liquidity in our ordinary shares, and providing a broader institutional investor base the opportunity to invest in the new Weatherford."
Source: Weatherford
Join our mailing list here
We are #1 on Google and Bing for the "Largest Mobile Energy Network"
Come join our community!
Download the Rig Lynx app here
Elton Group will invest approximately $121 million (FCfa 70 billion) as the concessionaire of the gas terminal at the Autonomous Port of Dakar, signifying the company’s growing role in Senegal’s gas-powered energy transition. The multi-phased project will involve the construction of a gas terminal for the production, storage, regasification and distribution of Liquefied Natural Gas (LNG), featuring a storage capacity of 140,000 m³. “The objective of the gas terminal will be to provide a logistical solution by providing LNG to the users that are energy producers, industries, cement plants, mining companies, LNG-powered vessels and neighboring countries,” said Abderrahmane Ndiaye, President of Elton. In addition to strengthening the domestic gas value chain, the project will generate indirect and direct employment through its construction and operation. It will also represent one of the first projects of its kind in the region. “Indeed, it would be the first port able to accommodate ships using LNG as fuel, which will give it a significant competitive advantage over other ports in the sub-region,” added Ndiaye. Elton is a Senegalese petroleum distribution company with operations in Senegal and Gambia. Source: Africa Oil and Power Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
PGS has been awarded a high-fidelity 3D exploration program by a supermajor offshore Egypt. The survey will be acquired using an Extended Long Offset (ELO) configuration with Ramform Tethys towing a wide multi-sensor GeoStreamer spread with an additional source vessel located several kilometers ahead. This will enable efficient recording of offsets up to 16 kilometers critical for imaging deeper complex exploration targets. The source vessel will be towing a specially designed low frequency source. The innovative ELO survey design combines optimal spatial sampling for better subsurface imaging together with long offset acquisition for accurate velocity model building. ELO is a cost competitive and efficient configuration compared to other solutions for imaging deep targets. “We are very pleased to be awarded this contract, which secures PGS vessels to operate in Egyptian waters until May 2021, building on an extended campaign for several super majors since July 2020. In a rapidly changing energy market, exploration seismic requires increasingly advanced survey designs, such as the ELO configuration, to generate high quality seismic data in complex geologies.,” says Nathan Oliver, EVP Sales & Services of PGS. Source: Africa Petroleum Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Eni CEO Claudio Descalzi, and the President General Manager of the Algerian state company SONATRACH, Toufik Hakkar, met at the Eni headquarters in San Donato Milanese to take stock of common activities and sign various agreements in the exploration and production, research and development, decarbonization and training fields. These agreements mark a further step forward in strengthening the partnership between the two companies. The first of the agreements signed aims to implement an ambitious program for the relaunch of exploration and development activities in the Berkine basin region and provides for the creation of a gas and crude oil development hub through a synergy with existing MLE-CAFC installations. This agreement is part of the process for the finalization of a new hydrocarbon contract in the basin, under the aegis of the new Algerian oil law which came into force in December 2019. Claudio Descalzi and Toufik Hakkar also signed a Memorandum of Understanding for the development of the partnership between Eni and Sonatrach in the new technologies sector, with a focus on renewable energy, biofuels and hydrogen. This agreement aims to strengthen the cooperation already in place between the two companies in the technological field and continue the decarbonization path undertaken to support the transition towards a low carbon future. Eni and Sonatrach also agreed to collaborate in other sectors such as staff training, through the signing of an agreement that provides for cooperation between Eni Corporate University and the Institut Algerien du Petrole for the implementation of training programs in the Upstream and new technologies related to the energy transition fields. At the end of the meeting, Eni’s CEO thanked the PDG and the members of the Sonatrach delegation for their constant collaboration and relationship: “Today’s agreements represent the commitment made by our companies to strengthen a historic partnership, in compliance with a shared strategy to accelerate the development of decarbonization projects as part of our commitment of achieving our carbon neutrality goal.” Eni has been present in Algeria since 1981 where is operator in 48 mining permits. With an equity production of 90,000 barrels of oil equivalent per day, Eni is the main international company operating in the country. Source: Africa Petroleum Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Tired of Facebook and LinkedIn?
(Tap Here to Download) the Rig Lynx application
Join the largest oil and gas community on mobile device!
Newsfeed, Jobs, Chats, Messaging, Vendor Network, Crew Creator and Much More
Subscribe to our mailing list to receive current oil and gas news!
Sign in
Comments (0)