Revenue from international operations
International rig count
From September 2016 to December 2016, the international rig count fell 1%. A lower international rig count could mitigate WFT’s revenues and earnings growth in 4Q16. WFT is 0.09% of the iShares Russell Mid-Cap ETF (IWR). The energy sector makes up 6.4% of IWR.
International rig count and mergers in the oilfield service industry
Baker Hughes (BHI), which has entered an agreement with GE (GE) to form a partnership, could benefit from increased international exposure. For more information, read Market Realist’s Can the BHI–GE Partnership Benefit from Global Growth? Lower international rig counts can also affect FMC Technologies (FTI), which is in a merger agreement with Technip. Read Market Realist’s Is FMC Technologies’ Merger with Technip Almost Complete? to learn more.
Next, we’ll discuss Weatherford International revenue and earnings.