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Excluding the adjustment related to a change in our revenue recognition in Venezuela, operating margins improved by 400 basis points sequentially;
Net cash used in operating activities was $62 million, a sequential improvement of 65%;
OneStimSM joint venture with Schlumberger on track to close in the second half of 2017;
Signed a Memorandum of Understanding (MOU) with Saudi Aramco, advancing localization in Saudi Arabia; and
Signed a technology cooperation agreement with Gazprom Neft intended to further develop current business relationships and collaborations between the two companies.
The following information was filed by Weatherford International Plc (WFT) on Friday, July 28, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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