•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Weatherford Ireland succeeds Weatherford Switzerland as parent company

    Weatherford International plc, formed in Ireland (NYSE: WFT), reports that the shareholders of its predecessor company Weatherford International Ltd., formed in Switzerland, have approved changing its place of incorporation from Switzerland to Ireland.

    This action was taken at an Extraordinary General Meeting of Shareholders held June 16, at which the proposal was overwhelmingly approved by over 98% of the shareholders voting.  On June 17, Weatherford Switzerland merged into Weatherford Ireland, which has now become the parent of the Weatherford International group of companies.

    With the completion of the merger mentioned above, the parent company of the Weatherford International group of companies continues to be subject to US Securities and Exchange Commission (SEC) reporting requirements as well as the rules of the New York Stock Exchange (NYSE), and its ordinary shares will be exclusively listed on the NYSE under the symbol "WFT."

    As previously announced, Weatherford's shares have been delisted from the NYSE Euronext Paris, and Weatherford also expects to delist its shares from the SIX Swiss Exchange on or about June 19.

    Weatherford shareholders approved moving the company headquarters from Switzerland to Ireland. Though headquartered in Geneva, Weatherford’s corporate officers are in Houston and will remain there. Weatherford’s board of directors approved the move in April, but a shareholder vote in favor of the plan was needed to make the change official.

    Related Articles

    Probabilistic portfolio analysis

    08/11/2014 Risk and uncertainty are rarely evaluated as an integral part of the planning process. An array of risks-from hydrocarbon potential and operating characteristics, to political or market factors-can...

    Paragon Offshore completes spin-off from Noble

    08/05/2014

    Paragon Offshore plc has completed its spin-off from Noble Corp. plc into a separate, publicly traded company that owns and operates standard specification offshore drilling rigs.

    Aker Solutions updates on proposed demerger

    07/11/2014 The board of directors of Aker Solutions ASA has, in accordance with the strategy disclosed April 30, resolved to propose to the company's shareholders that Aker Solutions be split into two compani...

    Parsley Energy joins Russell indexes

    07/01/2014 Parsley Energy Inc. has been added to the broad market Russell 3000, small-cap Russell 2000, and Russell Global indexes, along with appropriate style, sector, and country indexes, effective after t...

    More Oil & Gas Financial Articles

    Probabilistic portfolio analysis

    Mon, Aug 11, 2014

    Risk and uncertainty are rarely evaluated as an integral part of the planning process. An array of risks-from hydrocarbon potential and operating characteristics, to political or market factors-can have a significant impact on business performance.

    Paragon Offshore completes spin-off from Noble

    Tue, Aug 5, 2014

    Paragon Offshore plc has completed its spin-off from Noble Corp. plc into a separate, publicly traded company that owns and operates standard specification offshore drilling rigs.

    Chesapeake, RKI swap Powder River Basin assets

    Tue, Jul 29, 2014

    Aker Solutions updates on proposed demerger

    Fri, Jul 11, 2014

    The board of directors of Aker Solutions ASA has, in accordance with the strategy disclosed April 30, resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation.

    Parsley Energy joins Russell indexes

    Tue, Jul 1, 2014

    Parsley Energy Inc. has been added to the broad market Russell 3000, small-cap Russell 2000, and Russell Global indexes, along with appropriate style, sector, and country indexes, effective after the market close on June 27, in association with Russell Investments’ annual reconstitution of its comprehensive set of US and global equity indexes.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ