Weatherford exits bankruptcy, names new board

Weatherford International PLC, which has its main U.S. office in Houston, has emerged from Chapter 11 bankruptcy protection.

The company’s restructuring process eliminated about $6.2 billion of outstanding funded debt, according to a Dec. 13 press release. When the initial bankruptcy petition was filed in July, the company listed total debts of nearly $8.34 billion and total assets of nearly $6.52 billion.

Now, Weatherford has emerged with $2.6 billion in exit financing facilities, including a…


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