(KWES) - Schlumberger is planning to take over fracking business, Weatherford International.
Back in March, the company had announced they would be moving forward in a joint venture with Schlumberger.
But a week ago, they decided to sell their business.
Weatherford has suffered major losses since 2014.
The company plans to sell units to raise cash to hopefully reduce their $7.9 billion debt.
As part of the deal, about 100 Weatherford employees will transfer to Schlumberger.
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