Weatherford Shares Slip After ExxonMobil Nigeria News
Weatherford International shares fell 1.1% to $108.79 Friday after announcing a new deepwater completions contract with ExxonMobil’s Nigerian affiliate. The company did not disclose the contract value. Investors weighed the deal against ongoing Middle East disruptions and uneven regional activity. First-quarter revenue dropped 3% to $1.15 billion, while net income rose 42% to $108 million.