Weatherford International Company History Timeline
In 1981 it became a 50-50 partner with Northwest Energy in developing an oil field in Hockley County, Texas.
In 1987, Butler revealed that at the beginning of the recession Weatherford had actively pursued a merger with one or more other companies but, for whatever reason, never found any takers.
At the time of its merger with Weatherford, Enterra was considered one of the industry's leaders in technological research and development (R & D). It had become an international business in 1988, the year in which, for $35 million, it bought out CRC Evans.
Weatherford started its own shopping spree under Phillip Burguieres, who became chairman of the company in April 1991.
In its first whole year of operations, 1999, in addition to completing the necessary task of restructuring and reorganizing, Weatherford International arranged over a dozen acquisitions and strategic alliances.
Major steps included the 1999 merger of the company's gas compression services with GE Capital, a subsidiary of General Electric Co.
In 1999, it had also divested itself of its major subsidiary, Grant Prideco Drilling Products, by spinning it off to Weatherford shareholders.
2000: Company spins off its Grant Prideco Drilling Products subsidiary and buys Gas Services International, Oakwell Compressor Packages, and Alpine Oil Services.
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