Nov 30, 2015

Newly Developed LWD Service Withstands Ultra High Temperatures

Weatherford and Chevron Push Temperature Barriers in the Gulf of Thailand

HOUSTON, November 30, 2015 – Weatherford International plc announced today the development of the HeatWave™ Extreme service for commercial use by Chevron Thailand. The HeatWave Extreme service includes an enhanced logging-while-drilling (LWD) tool string capable of withstanding temperatures of up to 410˚F (210˚C). The high temperature rating enables drillers to log to total depth (TD) in conditions that exceed the current barriers of 347˚F (175˚C) and avoids the need to pull out of the hole, drill blindly or land the well above the planned TD.

The latest innovation in the Weatherford high-temperature LWD portfolio made its debut in April 2015 in Thailand. The 4 3/4-inch modified tool string is expected to reduce drilling times in deep gas fields.

“Through collaborative efforts with Chevron Thailand, we can provide LWD services in oil and gas plays throughout the world where there are extreme temperature challenges,” said Etienne Roux, Vice President of Drilling Services at Weatherford. “Furthermore, the joint focus on leveraging our technologies to drive efficiency and optimize costs in the current market conditions will help support our customers' operations.”

The first phase of component development and field testing for the new tool began in May 2014 as a partnered project between Weatherford and Chevron Thailand for offshore gas wells in the Gulf of Thailand. To date, the technology has saved approximately $4 million in rig time and expenses related to temperature mitigation over the course of the 22-well program.

Weatherford’s past experience and successes with high-temperature development allows operators to log while drilling in extreme temperature environments.

The partnership is part of Weatherford’s strategic focus to develop the right technology for the right market through collaboration with key clients globally.

About Chevron

Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, California. More information about Chevron is available at www.chevron.com.

About Chevron Thailand

Chevron Thailand Exploration and Production, Ltd. is the top oil and gas producer in the Kingdom and has been delivering natural gas, safely and reliably, to the country since 1981. Chevron’s operations fulfill approximately one-third of Thailand’s power demand. Chevron’s Gulf of Thailand operations support the country’s economic future and are a significant contributor to the Kingdom’s economy, including employing a predominantly Thai workforce of approximately 2,000 people.

About Weatherford

Weatherford is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 100 countries and has a network of over 1,200 locations, including manufacturing, service, research and development, and training facilities and employs approximately 40,000 people. For more information, visit www.weatherford.com.

For further information: Weatherford Contact: Kelley Hughes, Corporate Communications Manager, Kelley.Hughes@Weatherford.com; Jennifer Roth, Communications Specialist, +1.713.836.4345, Jennifer.Roth@Weatherford.com | Chevron Contact: Keith Ormston, keio@chevron.com; Doug Ellis, Douglas.Ellis@chevron.com