Services giant Weatherford is planning to sell its US fracturing business or merge it with another company after idling the unit at the end of last year and laying off employees as part of a broader restructuring of its business.
Switzerland-based Weatherford halted its hydraulic fracturing business at the end of 2016 because the unit was hemorrhaging money.
Since then, US fracturing prices have increased as much as 25%, Weatherford chief executive Krishna Shivram told investors and the underlying valuation of the assets have increased significantly.
