Weatherford International Ltd.

EANS-Adhoc: Weatherford Reports Third Quarter Results

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  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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Third Quarter Earnings

25.10.2011

Record revenue drives 136% year-on-year increase in earnings
                  of $0.26 per diluted share, before items

    GENEVA, Switzerland, Oct. 25, 2011 -- Weatherford International Ltd.
(NYSE / Euronext Paris / SIX: WFT) today reported third quarter 2011
income of $197 million, or $0.26 per diluted share, excluding an after-tax
loss of $7 million. On a GAAP basis, our net income for the third quarter of
2011 was $190 million, or $0.25 per diluted share. The excluded after-tax loss
is comprised of $6 million in severance and exit charges and $1 million in
government investigation costs.

end of ad-hoc-announcement

================================================================================
    (Logo: http://photos.prnewswire.com/prnh/19990308/WEATHERFORDLOGO)

    Third quarter diluted earnings per share reflects an increase of $0.15,

or 136 percent, over the third quarter of 2010 diluted earnings per share of
$0.11, before charges. Sequentially, the company's third quarter diluted
earnings per share, before charges, was $0.09, or 53 percent, higher than
the second quarter of 2011. Field operations drove the entire sequential
improvement in profitability. Two non-operating items partially offset
operating improvements. First, foreign exchange book losses of $20 million
at Weatherford recorded in Other, Net and our share of similar foreign
exchange book losses at a minority-owned subsidiary in Russia, which reduced
regional operating income by an additional $8 million. Second, a higher
sequential effective tax rate reduced net income by $7 million.

    Third quarter revenues of $3,373 million were the highest in the
company's history. Revenues were 33 percent higher than the same period last
year and 11 percent higher than the prior quarter. North America revenue was
up 21 percent sequentially and up 48 percent versus the third quarter of
2010. The sequential increase in North America was partially due to seasonal
recovery from the Canadian break-up experienced in the second quarter of
2011. International revenues were up three percent sequentially and up 22
percent versus the same quarter of 2010.

    Segment operating income of $525 million improved 42 percent
year-over-year and 25 percent sequentially. The company's North America
operations provided all of the sequential growth compared to the second
quarter of 2011 and delivered 39 percent incremental margins.
Internationally, Latin America was the strongest contributor with respect to
revenue and profit growth. An $8 million foreign exchange book loss at one
of the company's minority-owned subsidiaries in Russia weighed on Eastern
Hemisphere earnings, as the venture recorded a currency loss on its U.S.
dollar-denominated debt due to a strengthening of the dollar versus the
Russian rouble.

    Subject to the risks regarding forward-looking statements highlighted by
the company in this press release and its public filings, the company
expects earnings per share before excluded items of approximately $0.30 to
$0.34 in the fourth quarter of 2011, with profit growth expected in all
reporting regions. With respect to 2012, the company maintains a positive
but more measured outlook for its North American business and expects modest
revenue growth and margin expansion as compared to 2011 annualized exit
rates as a result of strong activity in Canada and in the U.S. oil market.
Internationally, the company anticipates continued growth and expanding
margins in its Latin America region, underpinned by improvements in
Argentina, Brazil, Colombia, Mexico and Venezuela. Eastern Hemisphere is
also expected to improve in 2012, with upticks in Europe and Russia, as well
as a recovery in the Middle East / North Africa / Asia Pacific region with
positive contributions from new contracts with better terms and pricing, the
completion of existing contracts and activity improvements in North Africa.

    North America

    Revenues for the quarter were $1,620 million, which is a 48 percent
increase over the same quarter in the prior year and up 21 percent
sequentially. The Artificial Lift, Completion Systems, Wireline and Drilling
Services product lines contributed strong results for the quarter.

    The current quarter's operating income was $352 million, up $153 million
from the third quarter of 2010, and was up $109 million, or 45 percent,
compared to the prior quarter. Strong growth and steadily expanding margins
in the U.S. and the recovery from the second quarter's Canadian break-up
contributed to the sequential increase.

    Middle East/North Africa/Asia

    Third quarter revenues of $573 million were five percent lower than the
third quarter of 2010 and seven percent lower than the prior quarter. The
sequential decline in revenues was principally the result of the
deconsolidation of three joint ventures and a decline in activity in
Algeria.

    The current quarter's operating income of $15 million decreased 77
percent as compared to the same quarter in the prior year and decreased $19
million compared to the second quarter of 2011. The mobilization of
equipment out of Algeria pending additional tenders weighed on margins, as
did a negative swing in Iraq profitability and continuing operating losses
in Libya due to political disruptions.

    Europe/West Africa/FSU

    Third quarter revenues of $589 million were 19 percent higher than the
third quarter of 2010 and one percent lower than the prior quarter. The
revenue growth over the same quarter of 2010 came from stronger performance
in Russia and the North Sea.

    The current quarter's operating income of $87 million was up 37 percent
compared to the same quarter in the prior year and down $6 million compared
to the prior quarter. The current quarter was negatively impacted by the $8
million of foreign exchange losses discussed above.

    Latin America

    Third quarter revenues of $592 million were 76 percent higher than the
third quarter of 2010 and up 19 percent compared to the second quarter of
2011. Mexico, Brazil and Venezuela posted strong sequential performances and
nearly all product lines experienced quarter on quarter growth.

    The current quarter's operating income of $71 million increased 73
percent as compared to the same quarter in the prior year and increased $20
million compared to the prior quarter.

    Liquidity and Net Debt

    Net debt for the quarter increased $301 million, with working capital
increasing $333 million during the quarter.

    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 2011 third quarter results on October 25, 2011 at 7:00 a.m.
(CDT). 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 59,000 people worldwide.



    Contacts: Andrew P. Becnel                    +41-22-816-1502
              Chief Financial Officer

              Karen David-Green                   +1-713-693-2530
              Vice President - Investor Relations


    Forward-Looking Statements


    This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. This
includes statements related to future levels of earnings, revenue, expenses,
margins, capital expenditures, changes in working capital, cash flows, tax
expense, effective tax rates and net income, as well as the prospects for
the oilfield service business generally and our business in particular. It
is inherently difficult to make projections or other forward-looking
statements in a cyclical industry and given the current macroeconomic
uncertainty. Such statements are based upon the current beliefs of
Weatherford's management, and are subject to significant risks, assumptions
and uncertainties. These include the future level of crude oil and natural
gas prices, demand for our products and services, levels of pricing for our
products and services, utilization rates of our equipment, the effectiveness
of our supply chain, weather-related disruptions and other operational and
non-operational risks that are detailed in our most recent Form 10-K and
other filings with the U.S. Securities and Exchange Commission. Should one
or more of these risks or uncertainties materialize, or underlying
assumptions prove incorrect, actual results may vary materially from those
indicated in our forward-looking statements. We undertake no obligation to
correct or update any forward-looking statement, whether as a result of new
information, future events, or otherwise.




                         Weatherford International Ltd.
                   Consolidated Condensed Statements of Income
                                   (Unaudited)
                    (In Thousands, Except Per Share Amounts)
                                                 Three Months
                                              Ended September 30,
                                              2011          2010
    Net Revenues:

        North America                    $ 1,619,601   $ 1,096,963
        Middle East/North Africa/Asia        572,707       601,215
        Europe/West Africa/FSU               588,572       496,113
        Latin America                        591,770       335,461
                                           3,372,650     2,529,752
    Operating Income (Expense):
        North America                        352,163       199,029
        Middle East/North Africa/Asia         15,341        65,718
        Europe/West Africa/FSU                86,595        63,236
        Latin America                         70,878        40,914
        Research and Development             (58,888)      (54,457)
        Corporate Expenses                   (41,981)      (41,907)
        Revaluation of Contingent
        Consideration                              -        90,011
        Severance, Exit and Other
        Adjustments                           (8,402)      (87,120)
                                             415,706       275,424
    Other Income (Expense):
        Interest Expense, Net               (114,448)      (99,318)
        Bond Tender Premium                        -       (10,731)
        Devaluation of Venezuelan Bolivar          -             -
        Other, Net                           (26,261)      (12,277)
    Income Before Income Taxes               274,997       153,098
    Benefit (Provision) for Income Taxes:
      Provision for Operations               (83,758)      (74,411)
      Provision for Legal
      Entity Reorganization                        -        (7,890)
      Benefit from Devaluation of
      Venezuelan Bolivar                           -             -
      Benefit from Severance, Exit and
      Other Adjustments                        1,902        28,142
                                             (81,856)      (54,159)
    Net Income (Loss)                        193,141        98,939
    Net Income Attributable to
    Noncontrolling Interest                   (2,781)       (4,286)
    Net Income (Loss)
    Attributable to Weatherford            $ 190,360      $ 94,653
    Earnings (Loss) Per Share
    Attributable to Weatherford:
      Basic                                   $ 0.25        $ 0.13
      Diluted                                 $ 0.25        $ 0.13
    Weighted Average Shares
    Outstanding:
      Basic                                  753,896       745,502
      Diluted                                759,946       751,394


                                                 Nine Months
                                              Ended September 30,
                                              2011          2010
    Net Revenues:

        North America                    $ 4,324,318   $ 2,903,238
        Middle East/North Africa/Asia      1,765,609     1,765,873
        Europe/West Africa/FSU             1,691,453     1,456,049
        Latin America                      1,499,270     1,172,822
                                           9,280,650     7,297,982
    Operating Income (Expense):
        North America                        879,473       434,462
        Middle East/North Africa/Asia         60,109       215,425
        Europe/West Africa/FSU               216,610       176,900
        Latin America                        143,050       108,979
        Research and Development            (185,666)     (156,844)
        Corporate Expenses                  (140,840)     (129,635)
        Revaluation of Contingent
        Consideration                              -        (2,752)
        Severance, Exit and Other
        Adjustments                          (47,927)     (158,461)
                                             924,809       488,074
    Other Income (Expense):
        Interest Expense, Net               (340,638)     (290,376)
        Bond Tender Premium                        -       (10,731)
        Devaluation of Venezuelan Bolivar          -       (63,859)
        Other, Net                           (67,194)      (35,681)
    Income Before Income Taxes               516,977        87,427
    Benefit (Provision) for Income Taxes:
      Provision for Operations              (154,511)     (146,940)
      Provision for Legal
      Entity Reorganization                        -        (7,890)
      Benefit from Devaluation of
      Venezuelan Bolivar                           -        23,973
      Benefit from Severance, Exit and
      Other Adjustments                        7,250        33,473
                                            (147,261)      (97,384)
    Net Income (Loss)                        369,716        (9,957)
    Net Income Attributable to
    Noncontrolling Interest                  (10,057)      (11,637)
    Net Income (Loss)
    Attributable to Weatherford            $ 359,659     $ (21,594)
    Earnings (Loss) Per Share
    Attributable to Weatherford:
      Basic                                   $ 0.48      $ (0.03)
      Diluted                                 $ 0.47      $ (0.03)
    Weighted Average Shares
    Outstanding:
      Basic                                  750,634       742,192
      Diluted                                758,491       742,192



                          Weatherford International Ltd.
                      Selected Income Statement Information
                                   (Unaudited)
                                  (In Thousands)

                                          Three Months Ended
                                  9/30/2011     6/30/2011     3/31/2011
    Net Revenues:
        North America           $ 1,619,601   $ 1,344,245   $ 1,360,472
        Middle East/North
        Africa/Asia                 572,707       617,376       575,526
        Europe/West Africa/FSU      588,572       592,458       510,423
        Latin America               591,770       497,735       409,765
                                $ 3,372,650   $ 3,051,814   $ 2,856,186
    Operating Income (Expense):
        North America             $ 352,163     $ 243,613     $ 283,697
        Middle East/North
        Africa/Asia                  15,341        33,964        10,804
        Europe/West Africa/FSU       86,595        92,511        37,504
        Latin America                70,878        51,081        21,091
        Research and Development    (58,888)      (62,231)      (64,547)
        Corporate Expenses          (41,981)      (43,030)      (55,829)
        Revaluation of Contingent
        Consideration                     -             -             -
        Severance, Exit and Other
        Adjustments                  (8,402)      (18,693)      (20,832)
                                  $ 415,706     $ 297,215     $ 211,888

                                          Three Months Ended
                                  9/30/2011     6/30/2011     3/31/2011
    Product Line Revenues
      Stimulation and Chemicals   $ 584,550     $ 544,953     $ 457,557
      Artificial Lift Systems       600,822       535,016       443,691
      Drilling Services             550,722       487,559       474,440
      Well Construction             414,593       382,077       346,052
      Integrated Drilling           331,446       316,554       319,661
      Completion Systems            269,235       248,850       206,760
      Drilling Tools                215,720       182,956       220,538
      Wireline and
      Evaluation Services           195,731       160,246       188,778
      Re-entry and Fishing          171,463       159,851       164,274
      Pipeline and
      Specialty Services             38,368        33,752        34,435
                                $ 3,372,650   $ 3,051,814   $ 2,856,186

                                          Three Months Ended
                                  9/30/2011     6/30/2011     3/31/2011
    Depreciation and Amortization:
      North America                $ 90,994      $ 88,006      $ 87,793
      Middle East/North
      Africa/Asia                    83,441        82,548        81,380
      Europe/West Africa/FSU         58,782        57,696        56,594
      Latin America                  50,577        48,722        46,388
      Research and Development        2,391         2,471         1,964
      Corporate                       2,265         2,725         2,936
                                  $ 288,450     $ 282,168     $ 277,055




                                                  Three Months Ended
                                              12/31/2010     9/30/2010
    Net Revenues:
        North America                        $ 1,263,643    $1,096,963
        Middle East/North Africa/Asia            684,630       601,215
        Europe/West Africa/FSU                   528,380       496,113
        Latin America                            446,162       335,461
                                             $ 2,922,815   $ 2,529,752
    Operating Income (Expense):
        North America                          $ 261,145     $ 199,029
        Middle East/North Africa/Asia             49,222        65,718
        Europe/West Africa/FSU                    64,398        63,236
        Latin America                             52,960        40,914
        Research and Development                 (57,637)      (54,457)
        Corporate Expenses                       (43,283)      (41,907)
        Revaluation of Contingent
        Consideration                             15,349        90,011
        Severance, Exit and Other
                  Adjustments                    (48,775)      (87,120)
                                               $ 293,379     $ 275,424


                                                  Three Months Ended
                                              12/31/2010     9/30/2010
    Product Line Revenues
      Stimulation and Chemicals                $ 396,241     $ 333,630
      Artificial Lift Systems                    471,276       417,464
      Drilling Services                          481,687       428,930
      Well Construction                          362,668       332,118
      Integrated Drilling                        356,871       261,974
      Completion Systems                         256,676       191,559
      Drilling Tools                             211,823       200,555
      Wireline and Evaluation Services           159,426       155,402
      Re-entry and Fishing                       165,094       153,569
      Pipeline and Specialty Services             61,053        54,551
                                             $ 2,922,815   $ 2,529,752


                                                  Three Months Ended
                                              12/31/2010     9/30/2010
    Depreciation and Amortization:
      North America                             $ 83,996      $ 81,843
      Middle East/North Africa/Asia               81,596        75,968
      Europe/West Africa/FSU                      53,408        56,960
      Latin America                               47,377        46,527
      Research and Development                     2,398         2,420
      Corporate                                    3,075         3,491
                                               $ 271,850     $ 267,209


    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 September 30, 2011, June 30, 2011, and September 30, 2010
    and for the nine months ended September 30, 2011 and September 30, 2010.
    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 Amounts)

                                            Three Months Ended

                                September 30,     June 30,     September 30,
                                     2011           2011          2010
    Operating Income:
         GAAP Operating Income    $ 415,706      $ 297,215      $ 275,424
                Severance,
                Exit and Other
                Adjustments           8,402         18,693         87,120
                Revaluation of
                Contingent
                Consideration             -              -        (90,011)
         Non-GAAP Operating
         Income                   $ 424,108      $ 315,908      $ 272,533
    Income (Loss) Before
    Income Taxes:
         GAAP Income (Loss)
         Before Income Taxes      $ 274,997      $ 161,164      $ 153,098
                Severance,
                Exit and Other
                Adjustments           8,402         18,693         87,120
                Revaluation of
                Contingent
                Consideration             -              -        (90,011)
                Devaluation of
                Venezuelan
                Bolivar                   -              -              -
                Bond Tender
                Premium                   -              -         10,731
         Non-GAAP Income
         (Loss) Before Income
         Taxes                    $ 283,399      $ 179,857      $ 160,938
    Benefit (Provision) for
    Income Taxes:
         GAAP Benefit
         (Provision) for
         Income Taxes             $ (81,856)     $ (46,128)     $ (54,159)
                Legal Entity
                Reorganization
                Charges                   -              -          7,890
                Devaluation of
                Venezuelan
                Bolivar                   -              -              -
                Bond Tender,
                Severance,
                Exit and Other
                Adjustments          (1,902)        (2,827)       (28,142)
         Non-GAAP Benefit
         (Provision) for
         Income Taxes             $ (83,758)     $ (48,955)    $  (74,411)
    Net Income (Loss)
    Attributable to
    Weatherford:
         GAAP Net Income
         (Loss)                   $ 190,360      $ 110,098       $ 94,653
                Total Charges,
                net of tax            6,500 (a)     15,866 (b)    (12,412) (c)

         Non-GAAP Net Income      $ 196,860      $ 125,964       $ 82,241
    Diluted Earnings (Loss)
    Per Share Attributable
    to Weatherford:
         GAAP Diluted
         Earnings (Loss) per
         Share                       $ 0.25         $ 0.15         $ 0.13
                Total Charges,
                net of tax             0.01 (a)       0.02 (b)      (0.02) (c)
         Non-GAAP Diluted
         Earnings per Share          $ 0.26         $ 0.17         $ 0.11



                                                    Nine Months Ended
                                              September 30,    September 30,
                                                  2011             2010
    Operating Income:
         GAAP Operating Income                 $ 924,809        $ 488,074
                Severance,
                Exit and Other
                Adjustments                       47,927          158,461
                Revaluation of
                Contingent
                Consideration                          -            2,752
         Non-GAAP Operating
         Income                                $ 972,736        $ 649,287
    Income (Loss) Before
    Income Taxes:
         GAAP Income (Loss)
         Before Income Taxes                   $ 516,977         $ 87,427
                Severance,
                Exit and Other
                Adjustments                       47,927          158,461
                Revaluation of
                Contingent
                Consideration                          -            2,752
                Devaluation of
                Venezuelan
                Bolivar                                -           63,859
                Bond Tender
                Premium                                -           10,731
         Non-GAAP Income
         (Loss) Before Income
         Taxes                                 $ 564,904        $ 323,230
    Benefit (Provision) for
    Income Taxes:
         GAAP Benefit
         (Provision) for
         Income Taxes                         $ (147,261)       $ (97,384)
                Legal Entity
                Reorganization
                Charges                                -            7,890
                Devaluation of
                Venezuelan
                Bolivar                                -          (23,973)
                Bond Tender,
                Severance,
                Exit and Other
                Adjustments                       (7,250)         (33,473)
         Non-GAAP Benefit
         (Provision) for
         Income Taxes                         $ (154,511)      $ (146,940)
    Net Income (Loss)
    Attributable to
    Weatherford:
         GAAP Net Income
         (Loss)                                $ 359,659        $ (21,594)
                Total Charges,
                net of tax                        40,677 (d)      186,247 (e)
         Non-GAAP Net Income                   $ 400,336        $ 164,653
    Diluted Earnings (Loss)
    Per Share Attributable
    to Weatherford:
         GAAP Diluted
         Earnings (Loss) per
         Share                                    $ 0.47         $ (0.03)
                Total Charges,
                net of tax                          0.06 (d)        0.25 (e)
         Non-GAAP Diluted
         Earnings per Share                       $ 0.53          $ 0.22


    Note (a): This amount is comprised of severance and exit charges of
              $6 million, net of tax, and costs incurred in connection with
              on-going investigations by the U.S. government of $1 million.
    Note (b): This amount is comprised of severance charges of $12 million,
              net of tax, and costs incurred in connection with on-going
              investigations by the U.S. government of $3 million. We also
              incurred charges totaling $1 million, net of tax, for facility
              closure costs and termination fees.
    Note (c): This amount is comprised of (i) a $90 million gain for the
              revaluation of contingent consideration included as part of
              our acquisition of the Oilfield Services Division ("OFS") of
              TNK-BP, (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 (d): This amount is comprised of a $9 million charge associated
              with terminating a corporate consulting contract and $26
              million for severance and exit costs. We also incurred
              investigation costs of $5 million in connection with on-going
              investigations by the U.S. government.
    Note (e): 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 management
              contracts in Mexico and (iv) a $7 million charge for a premium
              paid on tendering a portion of our senior notes, and (v) a net
              $3 million charge for revaluation of contingent consideration.
              During the year to date period ended September 30, 2010, we
              incurred a tax charge of $8 million as a result of a legal
              entity reorganization initiative completed during the third
              quarter of 2010. We also incurred investigation costs in
              connection with on-going investigations by the U.S. government
              and severance charges associated with our restructuring
              activities.



                         Weatherford International Ltd.
                      Consolidated Condensed Balance Sheet
                                   (Unaudited)
                                 (In Thousands)

                                                   September 30,  December 31,
                                                        2011          2010
    Current Assets:
                      Cash and Cash
                      Equivalents                     $ 273,562     $ 415,772
                      Accounts Receivable, Net        3,180,861     2,629,403
                      Inventories                     3,071,830     2,590,008
                      Other Current Assets            1,068,295       856,884
                                                      7,594,548     6,492,067
    Long-Term Assets:
                      Property, Plant and
                      Equipment, Net                  7,140,692     6,939,754
                      Goodwill                        4,351,160     4,185,477
                      Other Intangibles, Net            722,315       730,429
                      Equity Investments                599,730       539,580
                      Other Assets                      258,831       244,347
                                                     13,072,728    12,639,587
          Total Assets                             $ 20,667,276  $ 19,131,654
    Current Liabilities:
                      Short-term Borrowings
                      and Current Portion of
                      Long-term Debt                $ 1,349,624     $ 235,392
                      Accounts Payable                1,565,728     1,335,020
                      Other Current
                      Liabilities                     1,122,803     1,012,567
                                                      4,038,155     2,582,979
    Long-term Liabilities:
                      Long-term Debt                  6,266,190     6,529,998
                      Other Liabilities                 466,358       553,830
                                                      6,732,548     7,083,828
          Total Liabilities                          10,770,703     9,666,807
    Shareholders' Equity:
                      Weatherford
                      Shareholders' Equity            9,872,321     9,400,931
                      Noncontrolling Interest            24,252        63,916
          Total Shareholders' Equity                  9,896,573     9,464,847
          Total Liabilities and Shareholders'
          Equity                                   $ 20,667,276  $ 19,131,654



                         Weatherford International Ltd.
                                    Net Debt
                                   (Unaudited)
                                 (In Thousands)


    Change in Net Debt for the Three Months Ended September 30, 2011:


        Net Debt at June 30, 2011                      $ (7,040,880)
            Operating Income                                415,706
            Depreciation and Amortization                   288,450
            Severance, Exit and Other Adjustments             8,402
            Capital Expenditures                           (377,088)
            Increase in Working Capital                    (342,325)
            Income Taxes Paid                               (59,270)
            Interest Paid                                  (179,248)
            Acquisitions and Divestitures of Assets
            and Businesses, Net                             (27,374)
            Foreign Currency Contract Settlements             7,218
            Other                                           (35,843)
        Net Debt at September 30, 2011                 $ (7,342,252)

    Change in Net Debt for the Nine Months Ended September 30, 2011:

        Net Debt at December 31, 2010                  $ (6,349,618)
            Operating Income                                924,809
            Depreciation and Amortization                   847,673
            Severance, Exit and Other Adjustments            47,927
            Capital Expenditures                         (1,120,325)
            Increase in Working Capital                    (821,362)
            Income Taxes Paid                              (194,730)
            Interest Paid                                  (413,677)
            Acquisitions and Divestitures of Assets
            and Businesses,  Net                            (65,884)
            Foreign Currency Contract Settlements           (82,728)
            Other                                          (114,337)
        Net Debt at September 30, 2011                 $ (7,342,252)


                                  September 30,     June 30,    December 31,
        Components of Net Debt        2011            2011         2010
            Cash                   $ 273,562      $ 329,555       $ 415,772
            Short-term Borrowings
            and Current Portion
            of Long-Term Debt     (1,349,624)    (1,113,724)       (235,392)
            Long-term Debt        (6,266,190)    (6,256,711)     (6,529,998)
            Net Debt            $ (7,342,252)  $ (7,040,880)   $ (6,349,618)


    "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.


Further inquiry note:
Andrew P. Becnel, Chief Financial Officer, +41-22-816-1502, Karen David-Green,
Vice President - Investor Relations, +1-713-693-2530

end of announcement                               euro adhoc 
--------------------------------------------------------------------------------


issuer:      Weatherford International Ltd.
             Rue Jean-Francois Bartholoni 4-6
             CH-1204 Geneva
phone:       +41.22.816.1500
FAX:         +41.22.816.1599
mail:     karen.david-green@weatherford.com
WWW:      http://www.weatherford.com
sector:      Oil & Gas - Upstream activities
ISIN:        CH0038838394
indexes:     
stockmarkets: stock market: Euronext Paris, New York, Main Standard: SIX Swiss
             Exchange 
language:   English
 



Weitere Meldungen: Weatherford International Ltd.

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