Weatherford CEO: Sees International Segment Growing 30% In 2010
19 Octubre 2009 - 9:36AM
Noticias Dow Jones
Weatherford International Ltd. (WFT) Chief Executive Bernard J.
Duroc-Danner said he expects the company's international business
to grow 30% next year, despite a "messy" 2009 third quarter.
The executive said that the growth will come from North Africa,
Latin America, Asia and the Middle East.
International markets have been a relative bright spot for
service companies because the scope of the projects in those
markets tend to be less vulnerable to swings in commodity
prices.
Oilfield service companies like Weatherford have faced pricing
pressure in North America and abroad over the last year as the
price of oil and natural gas turned down.
Duroc-Danner said the company has now seen that pressure on its
prices erode and, in some cases, increase slightly.
"We have seen no contractual instances of further decline in
pricing," Duroc-Danner said.
-By Jason Womack, Dow Jones Newswires; 713-547-9201;
jason.womack@dowjones.com