Weatherford Awarded Contract for Mechanized Tubular Running Equipment

26 Oct 1998

Houston, October 26, 1998

Weatherford International, Inc. (NYSE: WFT) has been selected to provide mechanized tubular running equipment for two of Schlumberger Sedco Forex’s semisubmersible deepwater drilling projects in Angola and in the Gulf of Mexico. The equipment will be installed on Schlumberger’s new Sedco Express fifth generation semisubmersible rigs.

Weatherford’s package includes remote controlled equipment for stabbing operations and the maneuvering of power tongs on the rig floor, primarily for high alloy tubing and casing applications. The equipment is controlled by Programmable Logic Controllers (PLC) that can be tied in to the rig’s zone management (or anti-collision) systems.

The use of the PLC’s result in safer operations, because it eliminates the need for a stabber in the derrick. This benefit also translates into more reliable, efficient and cost effective use of rig time.

Houston-based Weatherford International, Inc. is one of the world’s largest providers of engineered products and specialized services to the drilling, completion and production sectors of the global oil and gas industry.

Christine McGee (713) 693-4362

This press release may contain 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 and the integration of recent acquisitions, all of which are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Weatherford International, Inc.'s Annual, Quarterly and Current Reports filed with the Securities and Exchange Commission, include the impact of oil and natural gas prices and worldwide economic conditions on drilling activity, the demand and pricing of Weatherford's products, as well as the ability to achieve the anticipated synergies and savings from the recent merger between EVI, Inc. and Weatherford Enterra, Inc. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated.

Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027