Biden plans to block more offshore O&G drilling in final weeks, Bloomberg says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2025
0mins
Biden's Offshore Oil Ban: President Joe Biden is expected to issue an executive order to permanently ban new offshore oil and gas development in parts of the outer continental shelf before leaving office, complicating future energy production plans under President-elect Trump.
Impact on Energy Companies: The ban could affect publicly traded companies involved in offshore drilling, including Baker Hughes, Halliburton, and Transocean, among others.
Analyst Views on WFRD
Wall Street analysts forecast WFRD stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for WFRD is 78.20 USD with a low forecast of 73.00 USD and a high forecast of 82.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 84.110
Low
73.00
Averages
78.20
High
82.00
Current: 84.110
Low
73.00
Averages
78.20
High
82.00
About WFRD
Weatherford International plc is a global energy services company. The Company is engaged in providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. The Company operates through three segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI). DRE offers a suite of services, including managed pressure drilling, drilling services, wireline, and drilling fluids. WCC offers products and services for well integrity assurance across the full life cycle of the well. PRI offers a suite of reservoir stimulation designs and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs. Its platforms include ForeSite, CygNet, CENTRO, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
