Weatherford CEO Sees More Oil Services Mergers

Reuters reports that the Chief Executive of Weathford International, one of the largest suppliers of goods and services to oil companies, said the oil services industry needed more consolidation.

Weatherford is currently operating in Iraq’s al-Bazerkan oilfield in Amara.

“We need to get larger,” said Bernard Duroc-Danner, citing the fact that oil services companies face large challenges in Iraq and in shale gas, which will require larger players.

While the industry had seen a number of deals in recent years, he added: “There’s more to come”.

(Source: Reuters)

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