Weatherford sells oil-well business to rival
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Houston
US oilfield services company Weatherford International Plc on Friday sold a US oil-well business to rival Schlumberger NV for US$430 million, abandoning a planned joint venture.
Weatherford has been looking to sell units and raise cash to reduce about US$7.9 billion in debt. It suffered a US$875 million loss on US$4.21 billion in revenue for the first nine months of 2017.
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