Houston, March 23, 2000
Weatherford International, Inc. (NYSE: WFT) today announced that its gas compression division, Weatherford Global Compression Services, has acquired the business and assets of Oakwell Compressor Packages BV, in The Netherlands. The acquisition will expand Weatherford Global’s platform of full-service compression capabilities in Europe and Africa.
Oakwell’s principal business units include natural gas compressor packaging and manufacture of ancillary oil field equipment, such as power units, liquid fuel atomizing units and lubrication systems. The company will be operated as Weatherford Global Compression BV.
“The acquisition of Oakwell provides Weatherford Global with a strong presence in the fast growing European and African areas and will complement our existing operations in North America, the Far East and South America,” said Bruce Longaker, President of Weatherford Global.
Weatherford Global Compression Services is a single-source provider of natural gas compression solutions to a variety of customers worldwide. Its solutions comprise the widest choice of compression services in the business, including full service turnkey compression project management, a large fleet of rental compression units, maintenance and reconditioning services for customer-owned equipment, custom-engineered compression systems, innovative financing programs, used compression equipment and compressed natural gas vehicle refueling equipment.
Houston-based Weatherford International, Inc.
(http://www.weatherford.com) is one of the largest providers of innovative mechanical solutions, technology and services for the drilling, completion and production sectors of the oil and gas industry. Weatherford operates in more than 50 countries and employs approximately 10,000 people worldwide.
Don Galletly (713) 693-4148
Michael Honea (972) 751-8520
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027