Weatherford has enough liquidity and cash to operate through downturn

By Devika Patel

Knoxville, Tenn., Feb. 18 – Weatherford International plc has sufficient liquidity to operate through the current industry-wide downturn, with $1.3 billion of cash as of the end of the last quarter.

“Our liquidity position is strong, with Weatherford ending the year with $1.3 billion of available cash, giving us flexibility to operate through this environment,” president and chief executive officer Girish K. Saligram said on the company’s fourth quarter and year ended Dec. 31, 2020 earnings conference call on Thursday.

Long-term debt was $2,601,000,000 as of Dec. 31, 2020, compared to $2,151,000,000 as of Dec. 31, 2019.

Weatherford is an oilfield services company based in Baar, Switzerland.

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