Does the Rig Count Affect WFT’s International Revenue?
Revenue from international operations
In the past year, Weatherford International’s (WFT) revenue share generated outside the United States has risen by 5.6%. WFT’s revenue from international geographies rose to 69% of its total revenue in 2Q16, compared to 63.4% in 2Q15.
By comparison, Halliburton’s (HAL) 2Q16 international revenue, in total, rose to 60% of its total revenue compared to 55% a year ago.
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International rig count
By July 31, 2016, the international rig count had fallen by 16% compared to a year ago. This was lower compared to the US rig count’s fall, which nearly halved in the year leading up to August 12.
WFT makes up 0.13% of the iShares Russell Mid-Cap ETF (IWR). The energy sector makes up 5.8% of IWR.
Next, let’s discuss Weatherford International’s indebtedness.