Weatherford plans units sale: report 

LONDON, November 24, 2017 – Weatherford International is hoping to sell businesses such as its international pressure pumping business, its wellheads and drilling tools arms and its artificial lift unit, international media reported on Friday.
 
Morgan Stanley has been hired as an adviser to the divestment, Reuters reported. Weatherford, which did not comment for the report, recently said it is looking at divesting assets worth about USD 500 million.

 “This process is already underway and the company hopes to monetise some of the rigs before the end of the year,” an anonymous banking source told the agency, adding that the move comes after the company failed to sell its land drilling arm last year and was now seeking to divest from it in piece.

 In early November, Weatherford reported a Q3 net loss of USD 256 million and debts of USD 7.92 billion at the end of the period.

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