EANS-Adhoc: Weatherford International Ltd. / Weatherford Reports Preliminary Fourth Quarter Results

--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------

3-month report

21.02.2012

New quarterly revenue record drives pre-tax earnings

Company to restate prior period financial results for tax
adjustments

GENEVA, Switzerland, Feb. 21, 2012 -- Weatherford International Ltd.
(NYSE and SIX: WFT) today reported preliminary fourth quarter 2011
pre-tax income of $254 million, or $352 million after excluding
pre-tax losses of $98 million. The excluded items were composed of a
$67 million charge for assets principally in Libya, as well as $31
million for exit, restructuring, investigation and other costs.

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

Fourth quarter revenues of $3,710 million were the highest in the
company's history. Revenues were 10 percent higher sequentially and
27 percent higher than the same period last year. North America
revenue was up five percent sequentially and up 34 percent versus the
fourth quarter of 2010. International revenues were up 15 percent
sequentially and up 21 percent versus the same quarter of 2010.
Artificial Lift, Drilling Services, Integrated Drilling and
Stimulation and Chemicals posted strong sequential growth.

end of ad-hoc-announcement ==========================================
====================================== Segment operating income of
$619 million improved 44 percent year-over-year and $93 million, or
18 percent sequentially. Segment operating income margins improved to
17 percent. The company's operations delivered 28 percent incremental
margins sequentially, with 37 percent incremental margins in North
America and 25 percent incremental margins internationally.
Internationally, both Latin America and Middle East/North Africa/Asia
posted strong profit improvements of $42 million and $27 million,
respectively.

A $28 million increase in corporate expenses, research and
development and other, net, primarily attributable to higher
professional service fees and foreign exchange losses, partially
offset our operating improvements.

Subject to the risks regarding forward-looking statements highlighted
by the company in this press release and its public filings, the
company expects to report fully diluted earnings per share of
approximately $0.30 before excluded items in the first quarter of
2012, with seasonal increases in Canada offset by seasonal declines
in Russia, the North Sea, Asia Pacific and areas of the central
United States. With regard to the entirety of 2012, the company
maintains a positive but measured outlook for its North American
business and expects modest profit improvement as compared to 2011.
Internationally, the company anticipates continued growth and
expanding margins in its Latin America region, underpinned by
improvements in Argentina, Colombia, Mexico and Venezuela. Eastern
Hemisphere is also expected to improve in 2012, with upticks in
Europe and Russia, as well as continued recovery in the Middle East /
North Africa / Asia Pacific region with positive contributions from
new contracts with better terms and pricing and the completion of
existing contracts. For 2012, we currently estimate an effective tax
rate of approximately 35 percent, although the actual rate may vary.

North America

Revenues for the quarter were $1,698 million, a 34 percent increase
over the same quarter in the prior year and up five percent
sequentially.

The current quarter's operating income was $382 million, up $119
million from the fourth quarter of 2010, and up $29 million, or 8
percent, compared to the prior quarter. Strong growth and expanding
margins in the U.S. contributed to the sequential increase as margins
improved to almost 23 percent. The Drilling Services, Artificial
Lift, Stimulation and Chemicals and Re-entry and Fishing product
lines contributed strong results for the quarter and contributed to
our margin growth.

Middle East/North Africa/Asia

Fourth quarter revenues of $675 million were one percent lower than
the fourth quarter of 2010 but 18 percent higher than the prior
quarter. The decline from the same period in the prior year is
attributable to the political unrest in parts of the region,
including Libya, Algeria, and Egypt and also due to our
deconsolidation of three joint ventures. The sequential increase in
revenues was attributable to additional activity in Iraq, Saudi
Arabia and Oman.

The current quarter's operating income of $44 million decreased $5
million as compared to the same quarter in the prior year and
increased $27 million compared to the third quarter of 2011.

Europe/West Africa/FSU

Fourth quarter revenues of $609 million were 15 percent higher than
the fourth quarter of 2010 and three percent higher than the prior
quarter. The revenue growth over the same quarter of 2010 came from
each of the regions with Russia, Kazakhstan and Nigeria as strong
performers.

The current quarter's operating income of $82 million was up 27
percent compared to the same quarter in the prior year and down $5
million compared to the prior quarter. The current quarter was
negatively impacted by seasonality in Russia.

Latin America

Fourth quarter revenues of $728 million were 63 percent higher than
the fourth quarter of 2010 and up 23 percent compared to the third
quarter of 2011. Mexico, Venezuela and Columbia posted strong
sequential performances in revenues and margins.

The current quarter's operating income of $112 million increased $60
million as compared to the same quarter in the prior year and
increased 60 percent or $42 million from the prior quarter.
Sequentially, our Integrated Drilling and Stimulation and Chemicals
product lines were the strongest performers.

Change in Net Debt

Net debt for the quarter decreased $112 million, with improvements in
operating working capital metrics for accounts receivable and
inventory both sequentially and compared to the fourth quarter of
2010.

Income Tax Matters

The company is reporting results on a pre-tax basis due to the
following factors:

- Management has concluded that the company has not remediated its
previously disclosed material weakness in internal controls over
financial reporting for income taxes relating to current taxes
payable, certain deferred tax assets and liabilities, reserves
for uncertain tax positions, and current and deferred income tax
expense.
- As a result of the continued material weakness over the
accounting for income taxes, significant incremental work has
been performed by Weatherford employees and external advisors
during 2011 and early 2012, which management expects to result in
roughly $225 million to $250 million of aggregate net adjustments
to previously reported financial results for the years 2010 and
prior relating to the correction of errors identified with
respect to the company's accounting for income taxes. Of this
total amount, we currently estimate that roughly two-thirds is
attributable to fiscal years ending on or prior to December 31,
2008, although management's analysis is not complete. None of the
adjustments is expected to affect the company's historically
reported net debt balances. Based upon additional analysis and
other post-closing procedures designed to ensure that the
company's consolidated financial statements will be presented in
accordance with generally accepted accounting principles, the
company believes the review of the company's historical tax
accounts has been comprehensive and that the process undertaken
has been thorough.
- Until we have concluded work on the above-mentioned adjustments,
we will not finalize the company's tax accounts for the year
ended December 31, 2011. However, we currently estimate that our
income tax expense for the 2011 fiscal year will be roughly
between $490 million and $520 million, including credits and
charges.
- The review of the income tax accounts is ongoing among the
company, its advisors and the company's auditors. Once finalized,
we expect to record the adjustments in the proper historical
periods in the audited financial statements to be filed with our
Annual Report on Form 10-K for the year ended December 31, 2011.

Restatement

As a result of the foregoing adjustments, the Audit Committee of our
Board of Directors concluded, on February 20, 2012, that investors
should no longer rely upon our previously issued financial
statements. The company expects to file the restated financial
statements described below due to errors relating to the company's
reporting of the provision for income taxes. The Audit Committee has
discussed this matter with the Company's independent registered
public accounting firm.

Until the restatement is completed, the company's estimates of the
expected adjustments for 2010 through 2008 and prior years, and the
nine months ended September 30, 2011, as well as its expected
financial results for 2011, are subject to change. There can be no
assurance that additional issues will not be identified during the
course of the audit process and, therefore, these results should be
considered preliminary until the company files its Form 10-K for the
year ended December 31, 2011. Any changes to the preliminary,
unaudited estimated results provided in this release, as well as
additional items that may be identified during the completion of the
audit process, could be material to the company's financial condition
and results of operations for 2011 through 2008.

Management is continuing to assess the effect of the restatement on
the company's internal control over financial reporting and its
disclosure controls and procedures. Management will report its
conclusion on internal control over financial reporting and
disclosure controls and procedures upon completion of the restatement
process.

The company intends to file restated financial statements for fiscal
2010 and 2009 in its Form 10-K for the year ended December 31, 2011
as soon as practicable. The company will also include restated
selected financial data for fiscal 2010 and 2009, as well as fiscal
2008 and 2007, in the Form 10-K. In addition, the company intends to
include in the Form 10-K restated quarterly financial data for each
of the quarters for fiscal 2010 and for the first three quarters of
fiscal 2011. Based on the information regarding prior years that the
company intends to include in its Form 10-K, the company does not
intend to file amendments to its Form 10-K for the year ended
December 31, 2010 or to any of its previously filed Form 10-Qs.

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 preliminary 2011 fourth quarter results on February 21,
2012 at 8:00 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 60,000 people worldwide.

Contacts: Andrew P. Becnel +41.22.816.1502
Chief Financial Officer

Karen David-Green +1.713.836.7430

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. Forward-looking statements also include any
statements about the resolution of our ongoing remediation of our
material weakness in internal control over financial reporting for
income taxes, our estimates or expectations as to our final restated
provision for income taxes for 2011 and prior periods and the timing
of our publication of our audited financial results for 2011 and the
filing of our Form 10-K for fiscal 2011. 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 unanticipated accounting issues or audit
issues regarding the financial data for the periods to be restated or
adjusted; inability of the Company or its independent registered
public accounting firm to confirm relevant information or data;
unanticipated issues that prevent or delay the Company's independent
registered public accounting firm from concluding the audit or that
require additional efforts, procedures or review; the Company's
inability to design or improve internal controls to address
identified issues; the impact upon operations of legal compliance
matters or internal controls review, improvement and remediation,
including the detection of wrongdoing, improper activities or
circumvention of internal controls; difficulties in controlling
expenses, including costs of legal compliance matters or internal
controls review, improvement and remediation; impact of changes in
management or staff levels, the effect of global political, economic
and market conditions on the Company's projected results; the
possibility that the Company may be unable to recognize expected
revenues from current and future contracts; the effect of currency
fluctuations on the Company's business; the Company's ability to
manage its workforce to control costs; the cost and availability of
raw materials, the Company's ability to manage its supply chain and
business processes; the Company's ability to commercialize new
technology; whether the Company can realize expected benefits from
its redomestication of its former Bermuda parent company; the
Company's ability to realize expected benefits from its acquisitions
and dispositions; the effect of a downturn in its industry on the
Company's carrying value of its goodwill; the effect of weather
conditions on the Company's operations; the impact of oil and natural
gas prices and worldwide economic conditions on drilling activity;
the effect of turmoil in the credit markets on the Company's ability
to manage risk with interest rate and foreign exchange swaps; the
outcome of pending government investigations, including the
Securities and Exchange Commission's investigation of the
circumstances surrounding the Company's material weakness in its
internal control over financial reporting of income taxes; the
outcome of ongoing litigation, including shareholder litigation
related to the Company's material weakness in its internal control
over financial reporting of income taxes and its restatement of
historical financial statements; 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, except to the extent
required under federal securities laws.

Weatherford International Ltd.
Consolidated Condensed Statements of Income
(Unaudited)
(In Thousands)

Three Months Twelve Months
Ended December 31, Ended December 31,
2011 2010 2011 2010
Net Revenues:
North America $ 1,698,417 $ 1,263,643 $ 6,022,735 $ 4,166,881
Middle
East/North
Africa/Asia 675,227 684,630 2,440,836 2,450,503
Europe/West
Africa/FSU 608,621 528,380 2,300,074 1,984,429
Latin America 727,507 446,162 2,226,777 1,618,984
3,709,772 2,922,815 12,990,422 10,220,797
Operating Income
(Expense):
North America 381,775 262,902 1,261,530 697,201
Middle
East/North
Africa/Asia 43,749 49,131 103,858 264,951
Europe/West
Africa/FSU 81,523 64,398 296,477 241,298
Latin America 112,156 52,253 252,553 159,111
Research and
Development (63,538) (58,012) (244,704) (215,981)
Corporate
Expenses (57,266) (43,100) (197,683) (172,185)
Libya Reserve (66,867) - (66,867) -
Revaluation
of Contingent
Consideration - 15,349 - 12,597
Severance,
Exit and
Other
Adjustments (25,595) (48,775) (73,522) (207,236)
405,937 294,146 1,331,642 779,756
Other Income
(Expense):
Interest
Expense, Net (112,651) (115,409) (453,289) (405,785)
Bond Tender
Premium - (43,242) - (53,973)
Devaluation
of Venezuelan
Bolivar - - - (63,859)
Other, Net (39,421) (17,566) (106,615) (53,247)
Income Before
Income Taxes 253,865 117,929 771,738 202,892

Weighted Average
Shares Outstanding:

Basic 758,206 745,925 752,527 743,125
Diluted 762,789 745,925 759,565 743,125

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

Three Months Ended
12/31/2011 9/30/2011 6/30/2011
Net Revenues:

North America $ 1,698,417 $ 1,619,601 $ 1,344,245
Middle
East/North
Africa/Asia 675,227 572,707 617,376
Europe/West
Africa/FSU 608,621 588,572 592,458
Latin America 727,507 591,770 497,735
$ 3,709,772 $ 3,372,650 $ 3,051,814
Operating Income
(Expense):
North America $ 381,775 $ 352,438 $ 244,243
Middle
East/North
Africa/Asia 43,749 17,041 33,114
Europe/West
Africa/FSU 81,523 86,595 88,700
Latin America 112,156 69,993 50,197
Research and
Development (63,538) (58,888) (62,231)
Corporate
Expenses (57,266) (41,840) (42,889)
Libya Reserve (66,867) - -
Revaluation
of Contingent
Consideration - - -
Severance,
Exit and
Other
Adjustments (25,595) (8,402) (18,693)
$ 405,937 $ 416,937 $ 292,441

Three Months Ended
12/31/2011 9/30/2011 6/30/2011
Product Line Revenues
Artificial Lift
Systems $ 662,247 $ 600,822 $ 535,016
Drilling Services 628,648 550,722 487,559
Stimulation and
Chemicals 624,171 584,550 544,953
Well Construction 436,788 414,593 382,077
Integrated Drilling 391,356 331,446 316,554
Completion Systems 306,650 269,235 248,850
Drilling Tools 216,969 215,720 182,956
Re-entry and
Fishing 200,302 171,463 159,851
Wireline and
Evaluation Services 200,050 195,731 160,246
Pipeline and
Specialty Services 42,591 38,368 33,752
$ 3,709,772 $ 3,372,650 $ 3,051,814

Three Months Ended
12/31/2011 9/30/2011 6/30/2011
Depreciation and
Amortization:
North America $ 90,565 $ 90,994 $ 88,006
Middle East/North
Africa/Asia 82,312 81,741 83,398
Europe/West
Africa/FSU 59,526 58,782 57,696
Latin America 52,060 50,577 48,722
Research and
Development 2,230 2,391 2,471
Corporate 2,733 2,265 2,725
$ 289,426 $ 286,750 $ 283,018

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

Three Months Ended
3/31/2011 12/31/2010
Net Revenues:

North America $ 1,360,472 $ 1,263,643
Middle
East/North
Africa/Asia 575,526 684,630
Europe/West
Africa/FSU 510,423 528,380
Latin America 409,765 446,162
$ 2,856,186 $ 2,922,815

Operating Income (Expense):
North America $ 283,074 $ 262,902
Middle
East/North
Africa/Asia 9,954 49,131
Europe/West
Africa/FSU 39,659 64,398
Latin America 20,207 52,253
Research and
Development (60,047) (58,012)
Corporate
Expenses (55,688) (43,100)
Libya Reserve - -
Revaluation of
Contingent
Consideration - 15,349
Severance, Exit
and Other
Adjustments (20,832) (48,775)
$ 216,327 $ 294,146

Three Months Ended
3/31/2011 12/31/2010
Product Line Revenues
Artificial Lift Systems $ 443,691 $ 471,276
Drilling Services 474,440 481,687
Stimulation and
Chemicals 457,557 396,241
Well Construction 346,052 362,668
Integrated Drilling 319,661 356,871
Completion Systems 206,760 256,676
Drilling Tools 220,538 211,823
Re-entry and Fishing 164,274 165,094
Wireline and Evaluation
Services 188,778 159,426
Pipeline and Specialty
Services 34,435 61,053
$ 2,856,186 $ 2,922,815

Three Months Ended
3/31/2011 12/31/2010
Depreciation and
Amortization:
North America $ 87,793 $ 83,996
Middle East/North
Africa/Asia 82,230 80,790
Europe/West Africa/FSU 56,594 53,408
Latin America 46,388 47,377
Research and Development 1,964 2,398
Corporate 2,936 3,075
$ 277,905 $ 271,044

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 December 31, 2011,
September 30, 2011, and December 31, 2010 and for the twelve months
ended December 31, 2011 and December 31, 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
December September December
31, 30, 31,
2011(a) 2011(b) 2010 (c)
Operating Income:

GAAP Operating Income $ 405,937 $ 416,937 $ 294,146
Libya Reserve 66,867 - -
Severance, Exit
and Other
Adjustments 25,595 8,402 48,775
Revaluation of
Contingent
Consideration - - (15,349)
Non-GAAP Operating
Income $ 498,399 $ 425,339 $ 327,572
Income (Loss) Before
Income Taxes:
GAAP Income (Loss)
Before Income Taxes $ 253,865 $ 276,227 $ 117,929
Libya Reserve 66,867 - -
Severance, Exit
and Other
Adjustments 30,865 8,402 48,775
Revaluation of
Contingent
Consideration - - (15,349)
Devaluation of
Venezuelan
Bolivar - - -
Bond Tender
Premium - - 43,242
Non-GAAP Income (Loss)
Before Income Taxes $ 351,597 $ 284,629 $ 194,597

Weatherford International Ltd.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Unaudited)
(In Thousands, Except Per Share Amounts)

Twelve Months Ended
December December
31, 31,
2011 (d) 2010 (e)
Operating Income:
GAAP Operating Income $ 1,331,642 $ 779,756
Libya Reserve 66,867 -
Severance, Exit and
Other Adjustments 73,522 207,236
Revaluation of
Contingent
Consideration - (12,597)
Non-GAAP Operating Income $ 1,472,031 $ 974,395
Income (Loss) Before Income Taxes:
GAAP Income (Loss) Before
Income Taxes $ 771,738 $ 202,892
Libya Reserve 66,867 -
Severance, Exit and
Other Adjustments 78,792 207,236
Revaluation of
Contingent
Consideration - (12,597)
Devaluation of
Venezuelan Bolivar - 63,859
Bond Tender Premium - 53,973
Non-GAAP Income (Loss) Before
Income Taxes $ 917,397 $ 515,363

Note (a): Non-GAAP adjustments are comprised of (i) a $67 million
charge primarily to reserve accounts receivable, inventory and
machinery and equipment in Libya (ii) $5 million in legal and
professional costs incurred in conjunction with our tax planning
and reorganization activities (iii) $5 million of costs incurred
in connection with on-going investigations by the U.S. government
and (iv) severance, exit and other charges of $16 million.

Note (b): Non-GAAP adjustments are comprised of severance and
exit charges of $7 million and costs incurred in connection with
on-going investigations by the U.S. government of $1 million.

Note (c): Non-GAAP adjustments are comprised of (i) a $43 million
charge for a premium paid on tendering a portion of our senior
notes, (ii) a $32 million reserve taken against accounts
receivable balances in Venezuela due to the country's economic
prognosis and (iii) a $15 million gain for the revaluation 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 and severance charges
associated with our restructuring activities.

Note (d): Non-GAAP adjustments are comprised of (i) a $67 million
charge primarily to reserve accounts receivable, inventory and
machinery and equipment in Libya and to a lesser extent other
countries affected by the political turmoil in the Middle East
and North Africa (ii) $9 million associated with the termination
of a corporate consulting contract (iii) $10 million of costs
incurred in connection with on-going investigations by the U.S.
government and (iv) other severance, exit and other charges
totaling $55 million.

Note (e): Non-GAAP adjustments are comprised of (i) a $38 million
charge related to our supplemental executive retirement plan that
was frozen on March 31, 2010, (ii) a $64 million charge related
to the devaluation of the Venezuelan Bolivar, (iii) a $73
million charge for revisions to our estimates in our project
management contracts in Mexico and (iv) a $54 million charge for
premiums paid on tendering a portion of our senior notes, (v) a
$32 million reserve taken against accounts receivable balances in
Venezuela due to the country's economic prognosis, and (vi) a net
$13 million gain for the revaluation of contingent consideration.
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.
Net Debt
(Unaudited)
(In Thousands)

Change in Net Debt for
the Three Months Ended
December 31, 2011:
Net Debt at September
30, 2011 (7,342,252)
Operating
Income 405,937
Depreciation
and
Amortization 289,426
Severance,
Exit and
Other
Adjustments 92,462
Capital
Expenditures (403,309)
Increase in
Working
Capital (167,872)
Income Taxes
Paid (91,000)
Interest Paid (47,172)
Acquisitions
and
Divestitures
of Assets and
Businesses,
Net (60,620)
Foreign
Currency
Contract
Settlements 36,723
Other 57,372
Net Debt at December
31, 2011 $ (7,230,305)

Change in Net Debt for
the Year Ended December
31, 2011:
Net Debt at December
31, 2010 (6,349,618)
Operating
Income 1,331,642
Depreciation
and
Amortization 1,137,099
Severance,
Exit and
Other
Adjustments 140,389
Capital
Expenditures (1,523,634)
Increase in
Working
Capital (994,013)
Income Taxes
Paid (285,730)
Interest Paid (460,849)
Acquisitions
and
Divestitures
of Assets and
Businesses,
Net (126,504)
Foreign
Currency
Contract
Settlements (46,005)
Other (53,082)
Net Debt at December
31, 2011 $ (7,230,305)

Components of Net December 31, September 30, December 31,
Debt 2011 2011 2010
Cash $ 375,561 $ 273,562 $ 415,772
Short-term
Borrowings
and Current
Portion of
Long-Term
Debt (1,319,614) (1,349,624) (235,392)
Long-term
Debt (6,286,252) (6,266,190) (6,529,998)
Net Debt $ (7,230,305) $ (7,342,252) $ (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:
Contacts: Andrew P. Becnel +41.22.816.1502
Chief Financial Officer
Karen David-Green +1.713.836.7430
Vice President - Investor Relations

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: Main Standard: SIX Swiss Exchange, stock market: New York, Euronext
Paris
language: English