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Oil Gas Equipment Services
Weatherford International Ltd. (WFT) is a Swiss-Irish multinational oilfield service company. It is headquartered in Baar, Switzerland and Dublin, Ireland, and it provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company's products and services include drilling and evaluation, completion, production, and intervention services, directed drilling, managed pressure drilling, and drilling optimization software, as well as a line of fishing and rentals, industrial and safety solutions.
Weatherford operates in over 80 countries across North America, the Middle East, Asia, Europe, South America, Africa, and Russia. The company has over 27,000 employees across the globe.
As for its financials, Weatherford has consistently generated revenue growth in the past three years, with its 2022 annual revenue amounting to USD 4.93 billion, representing a 6.87% rise from 2020. Notably, the company's 2022 net income stood at USD 256 million, which marked a significant improvement from its 2020 loss of USD 124 million. However, it's important to note that Weatherford's net income has historically been volatile and susceptible to changes in the oil and gas market, which can impact demand for its products and services.
Finally, let's discuss the revenue breakdown for Weatherford in 2022. It's interesting to note that North America, which includes the United States, Canada, and Mexico, contributed 51% or USD 2.56 billion of the company's total revenue. Latin America, which includes Argentina, Brazil, and Venezuela, came in second, accounting for 29% or USD 1.43 billion, while Europe, including Russia, contributed 9% or USD 438 million. Africa and the Middle East each accounted for 4% of the revenue at USD 203 million and USD 166 million, respectively. Finally, Asia Pacific, which includes Australia and China, made up 3% of total revenue, amounting to USD 167 million.
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