12 Aug 2009securities registration● Neutral
Weatherford International Ltd./Switzerland filed a prospectus supplement covering resales by selling shareholders.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
11 Aug 2009securities registration● Neutral
Weatherford International Ltd./Switzerland filed a prospectus supplement covering resales by selling shareholders.
3 Aug 2009quarterly activities report● Neutral
Weatherford International Ltd./Switzerland reported quarterly revenue of $2144.9 million and net income of $31.8 million for the period ended 2009-09-30.
27 July 2009securities registration● Neutral
Weatherford International Ltd./Switzerland filed a prospectus supplement covering resales by selling shareholders.
23 July 2009securities registration● Neutral
Weatherford International Ltd./Switzerland filed a prospectus supplement covering resales by selling shareholders.
22 July 2009material agreement● Neutral
Weatherford appointed Peter T. Fontana as Vice President Western Hemisphere on July 21, 2009, on employment terms similar to its other officers. If he is dismissed without cause, quits for good reason, or dies or becomes disabled, he gets two times salary plus bonus, other payments, and full vesting of equity, plus a tax gross-up. He also received an indemnification agreement.
20 July 2009quarterly activities report● Neutral
Weatherford International Ltd./Switzerland reported quarterly revenue of $1998.4 million and net income of $20.9 million for the period ended 2009-06-30.
6 July 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP & Chief Compliance Off Jacobson William B received 1,288 shares as part of the equity award.
30 June 2009securities registration● Neutral
Weatherford International Ltd./Switzerland filed a prospectus supplement covering resales by selling shareholders.
23 June 2009director interest notice● Neutral
Jacobson William B became a Weatherford International Ltd./Switzerland VP & Chief Compliance Off and company insider (initial ownership filing).
12 June 2009director interest notice● Neutral
Henry Joseph C. became a Weatherford International Ltd./Switzerland VP - Legal and company insider (initial ownership filing).
3 June 2009capital raising announcement● Neutral
This amendment repeats the TNK-BP Oilfield Services purchase terms and attaches the sale and purchase agreement as an exhibit. It adds that the shares go to TNK-BP in a private deal with one party, exempt from registration. No new commercial terms are added.
1 June 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP - Well Construction Svcs Hoyer Carel received a stock option grant for 221 shares.
29 May 2009material agreement● NeutralMajor
On May 29, 2009 Weatherford agreed to buy TNK-BP's Oilfield Services Division from Novy Investments Limited, a TNK-BP affiliate, paying 24.3 million of its own registered shares at completion. If TNK-BP sells those shares below US$18.50 before the earlier of June 29, 2010 or the first anniversary of completion, Weatherford owes the difference, in cash or in some cases shares. The deal still needs regulatory approvals, including Russian competition filings.
7 May 2009quarterly activities report● Neutral
Weatherford International Ltd./Switzerland reported quarterly revenue of $1998.4 million and net income of $20.9 million for the period ended 2009-06-30.
7 May 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP - Well Construction Svcs Hoyer Carel had 5,850 shares withheld for taxes on vesting stock.
4 May 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP - Well Construction Svcs Hoyer Carel received a stock option grant for 278 shares.
20 Apr 2009quarterly activities report● Neutral
Weatherford International Ltd./Switzerland reported quarterly revenue of $2254.6 million and net income of $128.0 million for the period ended 2009-03-31.
3 Apr 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP Art Lift Global Bus Unit M David Colley received 50,000 shares as part of the equity award.
3 Apr 2009director interest notice● Neutral
Hudgins James M became a Weatherford International Ltd./Switzerland Vice President - Tax and company insider (initial ownership filing).
2 Apr 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland VP - Well Construction Svcs Hoyer Carel received a stock option grant for 340 shares.
2 Apr 2009director interest notice● Neutral
Weatherford International Ltd./Switzerland SR VP Res & Prod & CTO Stuart E Ferguson received a stock option grant for 663 shares.
26 Feb 2009business combination● NeutralMajor
On Feb 26, 2009 Weatherford completed its move of the parent company from Bermuda to Switzerland. Each Bermuda common share was swapped one-for-one for a Swiss registered share (697,802,003 issued, excluding treasury shares). The new Swiss parent guaranteed the Bermuda and Delaware subsidiaries' senior notes and three credit facilities ($1.5bn, $250m, $500m), took over the stock plans, 12.9 million warrants (exercise price $15.00) and executive employment agreements, and kept the existing directors and officers. Share par value was set at 1.16 Swiss francs.