Houston, January 12, 1999
Weatherford International, Inc. (NYSE: WFT) announced today that it has acquired West Coast International for $18 million. West Coast is the predominant provider of pressure control and drilling tools in the Dutch and Danish markets.
The acquisition offers increased market presence in the North Sea, providing Weatherford with optimal inventory and service capabilities to package additional work, both in and beyond the North Sea including West Africa and the Caspian Region.
Houston-based Weatherford International, Inc. is one of the largest global providers of engineered products and services to the drilling and production segments of the oil and gas industry.
Contacts:
Don Galletly (713) 693-4148
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
713-693-4000