Sector News

Weatherford sells chemicals, drilling fluids units to Lubrizol

December 2, 2014
Chemical Value Chain
(Reuters) – Oilfield services provider Weatherford International Plc said Berkshire Hathaway Inc’s Lubrizol Corp would pay $750 million in cash for two businesses that provide chemicals and drilling fluids for oil and gas production.
 
Weatherford said the sale of its engineered chemistry and integrity drilling fluids businesses also included a potential increase of $75 million tied to the performance of the units after the deal closes. (Reporting by Swetha Gopinath in Bengaluru; Editing by Maju Samuel)

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