Weatherford International Ltd.

EANS-Adhoc: Weatherford International Ltd.
Weatherford Reports Fourth Quarter Results of $0.21 Per Share Before Charges, Primarily Tax Reorganization and Bond Tender Premiums

@@start.t1@@--------------------------------------------------------------------------------   ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide   distribution. The issuer is solely responsible for the content of this   announcement. --------------------------------------------------------------------------------@@end@@

annual report

25.01.2011

GENEVA, Jan. 25, 2011 -- Weatherford International Ltd. (NYSE / SIX: WFT) today reported fourth quarter 2010 income of $156 million, or $0.21 per diluted share, excluding an after tax loss of $210 million. The excluded after tax loss is comprised of the following items:

- $158 million book tax expense primarily incurred in connection with a tax reorganization to migrate Latin America operations out of the U.S. holding structure during the quarter to further strengthen global tax planning efforts. Of this amount, $54 million was a cash charge; - $34 million in bond tender premiums paid for the extinguishment of a portion of senior notes due in 2012 and 2013; - $21 million after-tax reserve taken against Venezuelan account receivables in light of the country's economic prognosis; - $12 million in after-tax severance related to restructuring initiatives; and - $15 million after-tax gain related to the November 2010 settlement of the TNK-BP put option which settled below the fair value liability recorded in the prior quarter.

The company incurred no net costs related to the government investigations.

Fourth quarter diluted earnings per share reflect an increase of $0.18 over the fourth quarter of 2009 diluted earnings per share of $0.03, before charges and fair value adjustment for the put option.

Sequentially, the company's fourth quarter diluted earnings per share, before charges and the fair value adjustment to the put option, were $0.03 higher than the third quarter of 2010.

Fourth quarter revenues of $2,901 million were the highest in company history and produced the highest quarterly sequential growth rate in the recent past. Revenues were 20 percent higher than the same period last year, and 14 percent higher than the prior quarter. International revenues were up 15 percent versus the prior quarter. Eastern Hemisphere revenues increased ten percent sequentially and 13 percent versus the year ago quarter, while North America revenue increased 14 percent and 70 percent, respectively, over the same period. Integrated Drilling, Completion Systems, Drilling Services, Stimulation and Chemicals, and Artificial Lift product lines posted strong sequential growth for the company.

Segment operating income of $421 million improved 89 percent year-over-year and 13 percent sequentially. Margin performance was held back primarily due to asset write-offs, particularly in the Eastern Hemisphere, as well as unfavorable weather conditions in Australia. Asset write-offs, principally on inventory, totaled $50 million during the quarter and negatively impacted earnings per share by approximately $0.05.

The company expects earnings per share before excluded items of $0.27 in the first quarter of 2011 and $1.30 for the full year 2011. The outlook for the international markets in 2011 is constructive, as supported by this quarter's healthy improvement in international revenues. The pace of recovery is expected to accelerate throughout the year and gain further momentum in 2012.

North America Revenues for the quarter were $1,253 million, which is a 70 percent increase over the same quarter in the prior year and up 14 percent sequentially.

Operating income was $252 million compared to $42 million for the fourth quarter of 2009 and was up $51 million, or 25 percent, sequentially. The current quarter's margins improved 180 basis points to 20.1%.

Continued gains in the U.S. land market coupled with robust Canadian activity levels led to higher sequential results. Oil directed drilling and liquid rich plays continued to drive activity levels higher, while reduced Gulf of Mexico operations weighted negatively on region results. The Artificial Lift, Drilling Services and Stimulation and Chemicals product lines contributed strong results for the quarter.

Middle East/North Africa/Asia Fourth quarter revenues of $681 million were 15 percent higher than the fourth quarter of 2009 and 13 percent higher than the prior quarter. On a sequential basis, Algeria and Iraq posted strong performances along with the Completion Systems and Integrated Drilling product lines. Year-over-year, revenue gains were meaningful in Iraq and China.

The current quarter's operating income of $53 million decreased 35 percent as compared to the same quarter in the prior year and decreased 22 percent compared to the prior quarter. Asset write-offs and inclement weather in Australia negatively impacted profitability during the quarter.

Europe/West Africa/FSU Fourth quarter revenues of $524 million were ten percent higher than the fourth quarter of 2009 and six percent higher than the prior quarter. On a sequential basis, the United Kingdom posted strong revenue performance along with the Drilling Services product line.

The current quarter's operating income of $61 million was up 25 percent compared to the same quarter in the prior year and flat sequentially. Write-offs of inventory negatively impacted profitability in the quarter.

Latin America Fourth quarter revenues of $442 million were 28 percent lower than the fourth quarter of 2009 and up 31 percent over the prior quarter. Brazil and Colombia throughout the year have delivered exemplary performance and are expected to continue to lead 2011 growth in Latin America as awarded contracts commence.

The current quarter's operating income of $54 million increased ten percent as compared to the same quarter in the prior year and increased 30 percent compared to the prior quarter.

Net Debt and Free Cash Flow Net debt for the quarter increased $23 million, after payment of $47 million for the settlement of the TNK put, $43 million in bond tender premiums and $38 million in acquisition consideration. Free cash flow (measured by changes in net debt) was $115 million for the full year 2010.

Reclassifications and Non-GAAP Non-GAAP performance measures and corresponding reconciliations to GAAP financial measures have been provided for meaningful comparisons between current results and results in prior operating periods.

Conference Call The company will host a conference call with financial analysts to discuss the 2010 fourth quarter results on January 25, 2011 at 8:00 a.m. (CST). The company invites investors to listen to a play back of the conference call and to access the call transcript at the company's website, http://www.weatherford.com in the "investor relations" section.

Weatherford is a Swiss-based, multi-national oilfield service company. It is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 100 countries and employs over 55,000 people worldwide.

Contacts: Andrew P. Becnel +41.22.816.1502 Chief Financial Officer

Karen David-Green +1.713.693.2530 Vice President - Investor Relations

end of ad-hoc-announcement ========================================== ====================================== This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning, among other things, Weatherford's prospects for its operations which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Weatherford International Ltd.'s reports and registration statements filed with the SEC, include the impact of oil and natural gas prices and worldwide economic conditions on drilling activity, the outcome of pending government investigations, the demand for and pricing of Weatherford's products and services, domestic and international economic and regulatory conditions and changes in tax and other laws affecting our business. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary materially from those currently anticipated.

@@start.t2@@Weatherford International Ltd.
                      Consolidated Condensed Statements of Income
                                         (Unaudited)
                         (In 000's, Except Per Share Amounts)


                                            Three Months                        Twelve Months
                                        Ended December 31,                Ended December 31,
                                        ------------------              -------------------
                                        2010                2009              2010                 2009
                                        ----                ----              ----                 ----


Net Revenues:
      North America  $1,252,918         $736,443    $4,163,662        $2,765,707
      Middle East/
        North Africa/
        Asia                    681,287          593,154      2,450,292         2,368,118
      Europe/West
        Africa/FSU          524,374          478,259      1,980,649         1,616,460
      Latin America        442,194          618,225      1,616,846         2,076,648
                                2,900,773        2,426,081    10,211,449         8,826,933
                                ---------        ---------    ----------         ---------@@end@@

Operating Income (Expense):

@@start.t3@@North America        252,105            41,625         695,309            197,211
      Middle East/
        North Africa/
        Asia                      53,494            82,452         282,496            441,974
      Europe/West
        Africa/FSU            60,962            48,893         223,149            230,918
      Latin America         54,108            49,271         164,783            281,590
      Research and
        Development         (57,637)         (50,216)      (214,481)         (194,650)
      Corporate
        Expenses              (43,345)         (48,990)      (175,166)         (173,695)
      Revaluation of
        Contingent
        Consideration        15,349            (6,295)         15,797              21,073
      Exit and
        Adjustments         (48,775)         (26,897)      (207,236)         (100,566)
                                  -------          -------        --------          --------
                                  286,261            89,843         784,651            703,855@@end@@

Other Income (Expense):

@@start.t4@@Interest
        Expense, Net      (115,409)         (91,902)      (405,785)         (366,748)
      Bond Tender
        Premium                (43,242)                  -         (53,973)                    -
      Devaluation of
        Venezuelan
        Bolivar                         -                    -         (63,859)                    -
      Other, Net            (13,966)          (9,177)        (49,647)          (37,633)
                                  -------            ------         -------            -------@@end@@

Income (Loss)  Before Income  Taxes                         113,644          
(11,236)        211,387            299,474

Benefit  (Provision)  for Income  Taxes:    Benefit      (Provision)      
for      Operations              (30,849)            2,710         (88,238)          
(10,157)    Provision for      Legal Entity      Reorganization      
(157,699)         (24,190)      (165,589)          (24,190)    Benefit from    
Devaluation      of Venezuelan      Bolivar                            -                
-          23,973                      -    Benefit from      Bond Tender      and
Exit and

@@start.t5@@Restructurings         24,301              5,466          57,774              14,798
                                    ------              -----          ------              ------
                                 (164,247)         (16,014)      (172,080)          (19,549)

Net Income
(Loss)                        (50,603)         (27,250)         39,307            279,925
Net Income@@end@@

Attributable to Noncontrolling

@@start.t6@@Interest                      (3,156)          (3,141)        (14,793)          (26,159)
                                    ------            ------         -------            -------
Net Income@@end@@

(Loss) Attributable to

@@start.t7@@Weatherford              $(53,759)        $(30,391)        $24,514          $253,766
                                 ========         ========         =======          ========

Earnings@@end@@

(Loss) Per Share Attributable to Weatherford:

@@start.t8@@Basic                         $(0.07)          $(0.04)          $0.03                $0.35
  Diluted                      $(0.07)          $(0.04)          $0.03                $0.35

Weighted@@end@@

Average  Shares  Outstanding:    Basic                        745,925          
737,059         743,125            714,981    Diluted                    745,925      
737,059         750,128            723,449

Weatherford International Ltd.
                                    Selected Income Statement Information
                                                         (Unaudited)
                                                          (In 000's)

                                                                Three Months
                                                                    Ended
                                                                    -----
                                                12/31/2010         9/30/2010      6/30/2010
                                                ----------         ---------      ---------

Net Revenues:
      North America                    $1,252,918        $1,098,757        $921,443
      Middle East/North Africa/
        Asia                                      681,287            603,249         600,777
      Europe/West Africa/FSU          524,374            495,800         505,774
      Latin America                         442,194            336,351         410,277
                                                $2,900,773        $2,534,157    $2,438,271
                                                ==========        ==========    ==========

Operating Income (Expense):
      North America                        $252,105          $201,516        $129,361
      Middle East/North Africa/
        Asia                                        53,494              68,197          78,009
      Europe/West Africa/FSU            60,962              60,825          62,834
      Latin America                          54,108              41,612          37,984
      Research and Development        (57,637)          (54,457)        (53,530)
      Corporate Expenses                 (43,345)          (41,969)        (42,732)
      Revaluation of Contingent
        Consideration                         15,349              90,011         (81,753)
      Exit and Adjustments              (48,775)          (87,120)        (27,309)
                                                  $286,261          $278,615        $102,864
                                                  ========          ========        ========


                                                          Three Months
                                                                 Ended
                                                                 -----
                                                    3/31/2010         12/31/2009
                                                    ---------         ----------

Net Revenues:
      North America                          $890,544            $736,443
      Middle East/North Africa/
        Asia                                         564,979              593,154
      Europe/West Africa/FSU              454,701              478,259
      Latin America                            428,024              618,225
                                                  $2,338,248         $2,426,081
                                                  ==========         ==========

Operating Income (Expense):

@@start.t9@@North America                          $112,327              $41,625
      Middle East/North Africa/
        Asia                                          82,796                82,452
      Europe/West Africa/FSU                38,528                48,893
      Latin America                              31,079                49,271
      Research and Development          (48,857)            (50,216)
      Corporate Expenses                    (47,120)            (48,990)
      Revaluation of Contingent
        Consideration                            (7,810)              (6,295)
      Exit and Adjustments                 (44,032)            (26,897)
                                                      $116,911              $89,843
                                                      ========              =======

                                                         Supplemental Information
                                                                  (Unaudited)
                                                                    (In 000's)

                                                                Three Months
                                                                    Ended
                                                                    -----
                                  12/31/2010 9/30/2010 6/30/2010 3/31/2010 12/31/2009
                                  ---------- --------- --------- --------- ----------

Depreciation and
Amortization:
  North America                $83,996    $81,843    $81,040    $80,660      $83,658
  Middle East/North
    Africa/Asia                  81,596      75,968      75,139      72,290        72,739
  Europe/West Africa/
    FSU                                53,095      58,847      52,058      48,958        50,376
  Latin America                 47,377      46,527      44,753      42,479        42,751
  Research and
    Development                    2,398        2,420        2,324        2,224         1,980
  Corporate                         3,075        3,491        2,943        2,781         2,197
                                          -----        -----        -----        -----         -----
                                      $271,537  $269,096  $258,257  $249,392    $253,701
                                      ========  ========  ========  ========    ========

      We report our financial results in accordance with generally accepted
accounting principles (GAAP). However, Weatherford's management believes that
certain non-GAAP performance measures and ratios may provide users of this
financial information additional meaningful comparisons between current
results and results in prior operating periods. One such non-GAAP financial
measure we may present from time to time is operating income or income from
continuing operations excluding certain charges or amounts. This adjusted
income amount is not a measure of financial performance under GAAP.
Accordingly, it should not be considered as a substitute for operating
income, net income or other income data prepared in accordance with GAAP. See
the table below for supplemental financial data and corresponding
reconciliations to GAAP financial measures for the three months ended@@end@@

December 31, 2010, September 30, 2010, and December 30, 2009 and for the twelve months ended December 31, 2010 and December 31, 2009. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with GAAP.

Weatherford International Ltd. Reconciliation of GAAP to Non-GAAP Financial Measures

(Unaudited)
              (In thousands, except per share data)

                                                                Three Months Ended
                                                                ------------------
                                            December            September            December
                                                 31,                    30,                      31,
                                                2010                  2010                    2009
                                                ----                  ----                    ----

Operating Income:   GAAP Operating

Income                          $286,261            $278,615                $89,843
      Exit and Adjustments      48,775                87,120                 26,897
      Revaluation of
        Contingent
        Consideration              (15,349)            (90,011)                 6,295
                                          -------              -------                  -----
  Non-GAAP Operating
    Income                          $319,687            $275,724              $123,035
                                         ========            ========              ========

Income (Loss) Before
Income Taxes:
  GAAP Income (Loss)
    Before Income Taxes      $113,644            $156,289              $(11,236)
      Exit and Adjustments      48,775                87,120                 26,897
      Revaluation of
        Contingent
        Consideration              (15,349)            (90,011)                 6,295
      Devaluation of
        Venezuelan Bolivar                -                        -                         -
      Bond Tender Premium        43,242                10,731                         -
                                            ------                ------                      ---
  Non-GAAP Income
    (Loss) Before
    Income Taxes                 $190,312            $164,129                $21,956
                                         ========            ========                =======

Benefit (Provision)

for Income Taxes:
  GAAP Benefit
    (Provision) for
    Income Taxes                $(164,247)            $(7,157)            $(16,014)

Legal Entity
        Reorganization
        Charges                        157,699                 7,890                 24,190
      Devaluation of
        Venezuelan Bolivar                -                        -                         -
      Benefit from Bond
        Tender and Exit and
        Restructurings            (24,301)            (28,142)                (5,466)
                                          -------              -------                 ------
  Non-GAAP Benefit
    (Provision) for
    Income Taxes                 $(30,849)          $(27,409)                $2,710
                                         ========            ========                 ======

Net Income (Loss)

Attributable to Weatherford:   GAAP Net Income

@@start.t10@@(Loss)                          $(53,759)          $144,846              $(30,391)
      Total Charges, net
        of tax                         210,066 (a)        (12,412) (b)         51,916 (c)
                                          -------              -------                 ------
  Non-GAAP Net Income        $156,307            $132,434                $21,525
                                         ========            ========                =======

Diluted Earnings@@end@@

(Loss) Per Share Attributable to Weatherford:   GAAP Diluted     Earnings (Loss) per

@@start.t11@@Share                                $(0.07)                $0.19                 $(0.04)
      Total Charges, net
        of tax                              0.28 (a)          (0.01) (b)            0.07 (c)
                                                ----                 -----                    ----
  Non-GAAP Diluted
    Earnings per Share            $0.21                 $0.18                  $0.03@@end@@

=====                 =====                  =====

@@start.t12@@Twelve Months Ended
                                                                      -------------------
                                                                    December              December
                                                                         31,                      31,
                                                                        2010                    2009
                                                                        ----                    ----

Operating Income:
  GAAP Operating Income                            $784,651              $703,855
      Exit and Adjustments                            207,236                100,566
      Revaluation of Contingent
        Consideration                                      (15,797)              (21,073)
                                                                  -------                -------
  Non-GAAP Operating Income                      $976,090              $783,348
                                                                 ========              ========

Income (Loss) Before Income Taxes:
  GAAP Income (Loss) Before Income
    Taxes                                                    $211,387              $299,474
      Exit and Adjustments                            207,236                100,566
      Revaluation of Contingent
        Consideration                                      (15,797)              (21,073)
      Devaluation of Venezuelan Bolivar         63,859                         -
      Bond Tender Premium                                53,973                         -
                                                                    ------                      ---
  Non-GAAP Income (Loss) Before
    Income Taxes                                         $520,658              $378,967
                                                                 ========              ========

Benefit (Provision) for Income
Taxes:
  GAAP Benefit (Provision) for Income
    Taxes                                                  $(172,080)            $(19,549)
      Legal Entity Reorganization Charges    165,589                 24,190
      Devaluation of Venezuelan Bolivar        (23,973)                        -
      Benefit from Bond Tender and Exit
        and Restructurings                              (57,774)              (14,798)
                                                                  -------                -------
  Non-GAAP Benefit (Provision) for
    Income Taxes                                         $(88,238)            $(10,157)
                                                                 ========              ========

Net Income (Loss) Attributable to
Weatherford:
  GAAP Net Income (Loss)                            $24,514              $253,766
      Total Charges, net of tax                    393,113 (d)          88,885 (e)
                                                                  -------                 ------
  Non-GAAP Net Income                                $417,627              $342,651
                                                                 ========              ========

Diluted Earnings (Loss) Per Share
Attributable to Weatherford:
  GAAP Diluted Earnings (Loss) per
    Share                                                         $0.03                  $0.35
      Total Charges, net of tax                         0.53 (d)              0.12 (e)
                                                                        ----                    ----
  Non-GAAP Diluted Earnings per Share          $0.56                  $0.47
                                                                      =====                  =====


      Note (a):  This amount is comprised of (i) a $34 million premium paid
      on tendering a portion of our senior notes, (ii) severance costs
      associated with our restructuring activities, (iii) a $21 million
      reserve taken against accounts receivable balances in Venezuela due
      to the country's economic prognosis and (iv) a $15 million gain on
      the settlement of contingent consideration included as part of our
      acquisition of the Oilfield Services Division ("OFS") of TNK-BP.
        We also incurred investigation costs in connection with on-going
        investigations by the U.S. government.  In addition, we incurred a
      tax charge of $158 million primarily as a result of a tax
      reorganization initiative completed during the fourth quarter of
      2010.

      Note (b): This amount is comprised of  (i) a $90 million gain for the
      revaluation of contingent consideration included as part of our
      acquisition of OFS, (ii) a $54 million charge for revisions to our
      estimates in our project management contracts in Mexico and (iii) a
      $7 million charge for a premium paid on tendering a portion of our
      senior notes.  We also incurred investigation costs in connection
      with on-going investigations by the U.S. government and severance
      charges associated with our restructuring activities.  In addition,
      we incurred a tax charge of $8 million as a result of a legal entity
      reorganization initiative completed during the third quarter of
      2010.

      Note (c): This amount represents investigation costs incurred in
      connection with on-going investigations by the U.S. government and
      severance charges and facility closure costs associated with the
      Company's restructuring activities.  In addition, the Company
      incurred a tax charge of $24 million as a result of a legal entity
      reorganization initiative completed during the fourth quarter of
      2009.  These charges were partially offset by a $6 million gain on
      the revaluation of the contingent consideration included as part of
      the OFS acquisition.

      Note (d):  This amount is comprised of (i) a $38 million charge
      related to our supplemental executive retirement plan that was
      frozen on March 31, 2010, (ii) a $40 million charge related to the
      devaluation of the Venezuelan Bolivar, (iii) a $54 million charge
      for revisions to our estimates in our project based management
      contracts in Mexico, (iv) a $41 million charge for premiums paid on
      tendering a portion of our senior notes and (v) a $21 million
      reserve taken against accounts receivable balances in Venezuela due
      to the country's economic prognosis.  We also incurred investigation
      costs in connection with on-going investigations by the U.S.
      government and severance charges associated with our restructuring
      activities.  In addition, we incurred tax charges of $8 million and
      $158 million primarily as a result of tax reorganization initiatives
      completed during the third and fourth quarters of 2010,
      respectively.

      Note (e): This amount represents investigation costs incurred in
      connection with on-going investigations by the U.S. government and
      costs related to the Company's withdrawal from sanctioned countries.
        Also included are severance charges and facility closure costs
        associated with the Company's restructuring activities.  In
      addition, the Company incurred a tax charge of $24 million as a
      result of a tax reorganization initiative completed during the
      fourth quarter of 2009.  These charges were partially offset by a
      $21 million gain on the revaluation of the contingent consideration
      included as part of the OFS acquisition.@@end@@

@@start.t13@@Weatherford International Ltd.
                              Consolidated Condensed Balance Sheet
                                                 (Unaudited)
                                                  (In 000's)

                                                                                    December      December
                                                                                          31,              31,
                                                                                         2010            2009
                                                                                         ----            ----

Current Assets:
      Cash and Cash Equivalents                                    $415,772      $252,519
      Accounts Receivable, Net                                    2,618,983    2,504,876
      Inventories                                                         2,591,940    2,239,762
      Other Current Assets                                          1,335,718    1,143,449
                                                                                 6,962,413    6,140,606
                                                                                 ---------    ---------

Long-Term Assets:
      Property, Plant and Equipment, Net                    6,939,754    6,991,579
      Goodwill                                                              4,185,477    4,156,105
      Other Intangibles, Net                                          740,681        778,786
      Equity Investments                                                 539,580        542,667
      Other Assets                                                          246,875        256,440
                                                                                12,652,367  12,725,577
                                                                                ----------  ----------

  Total Assets                                                        $19,614,780 $18,866,183
                                                                              =========== ===========

Current Liabilities:
      Short-term Borrowings and Current Portion of
        Long-term Debt                                                    $235,392      $869,581
      Accounts Payable                                                 1,335,020    1,002,359
      Other Current Liabilities                                      993,852        924,948
                                                                                 2,564,264    2,796,888
                                                                                 ---------    ---------

Long-term Liabilities:
      Long-term Debt                                                    6,529,998    5,847,258
      Other Liabilities                                                  562,901        423,333
                                                                                 7,092,899    6,270,591
                                                                                 ---------    ---------

  Total Liabilities                                                  9,657,163    9,067,479
                                                                                 ---------    ---------

Shareholders' Equity:
      Weatherford Shareholders' Equity                        9,893,701    9,719,672
      Noncontrolling Interest                                          63,916         79,032
                                                                                      ------         ------
  Total Shareholders' Equity                                    9,957,617    9,798,704
                                                                                 ---------    ---------@@end@@

Total Liabilities and Shareholders' Equity        $19,614,780
$18,866,183                                                                                
=========== ===========

Weatherford International Ltd.
                                                                Net Debt
                                                              (Unaudited)
                                                              (In 000's)

Change in Net Debt for

the Three Months Ended December 31, 2010:   Net Debt at September 30,

2010                                      $(6,326,209)
      Operating Income                        286,261
      Depreciation and
        Amortization                            271,537
      Exit and Adjustments                  48,775
      Revaluation of Contingent
        Consideration                          (15,349)
      Capital Expenditures                (258,987)
      Increase in Working
        Capital                                    (74,396)
      Income Taxes Paid                      (92,998)
      Interest Paid                            (66,455)
      Acquisitions and
        Divestitures of Assets
        and Businesses, Net                 (33,016)
      TNK Put Settlement                    (46,966)
      Bond Tender Premium                  (43,242)
      Other                                            1,427
                                                          -----
  Net Debt at December 31,
    2010                                      $(6,349,618)
                                                 ===========

Change in Net Debt for

the Year Ended December 31, 2010:   Net Debt at December 31,

@@start.t14@@2009                                      $(6,464,320)
      Operating Income                        784,651
      Depreciation and
        Amortization                         1,048,282
      Exit and Adjustments                 207,236
      Revaluation of Contingent
        Consideration                          (15,797)
      Capital Expenditures                (976,544)
      Increase in Working
        Capital                                  (242,989)
      Income Taxes Paid                    (350,603)
      Interest Paid                          (421,132)
      Acquisitions and
        Divestitures of Assets
        and Businesses, Net                  97,932
      TNK Put Settlement                    (46,966)
      Bond Tender Premium                  (53,973)
      Other                                          84,605
                                                         ------
  Net Debt at December 31,
    2010                                      $(6,349,618)
                                                 ===========


                                                                        September
                                                December 31,         30,         December 31,
  Components of Net Debt                      2010              2010                2009
                                                            ----              ----                ----
      Cash                                         $415,772        $951,382         $252,519
      Short-term Borrowings
        and Current Portion of
        Long-Term Debt                        (235,392)      (582,628)        (869,581)
      Long-term Debt                      (6,529,998)  (6,694,963)    (5,847,258)
                                                  ----------    ----------      ----------
      Net Debt                              $(6,349,618) $(6,326,209)  $(6,464,320)
                                                 ===========  ===========    ===========@@end@@

"Net Debt" is debt less cash.  Management believes that Net Debt provides useful information regarding the level of Weatherford indebtedness by reflecting cash that could be used to repay debt.

Working capital is defined as accounts receivable plus inventory less accounts payable.

SOURCE Weatherford International Ltd.

@@start.t15@@end of announcement                                                 euro adhoc
--------------------------------------------------------------------------------@@end@@

Further inquiry note: Andrew P. Becnel +41.22.816.1502 Chief Financial Officer

Karen David-Green +1.713.693.2530 Vice President - Investor Relations

Branche: Oil & Gas - Upstream activities
ISIN:      CH0038838394
WKN:        A0RF77
Börsen:  Euronext Paris / stock market
              New York / stock market
              SIX Swiss Exchange / Main Standard



Weitere Meldungen: Weatherford International Ltd.

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