Weatherford Announces Senior Note Offering

06 Nov 2001
HOUSTON, Nov 6, 2001 /PRNewswire via COMTEX/ -- Weatherford International, Inc. (NYSE: WFT) proposes to make a private placement of approximately $350 million in senior notes. The net proceeds of the offering will be used to repay existing indebtedness and for general corporate purposes. The company anticipates closing the offering later this month.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities. The offering is being made only to qualified institutional buyers and to certain persons in offshore transactions in reliance on Regulation S. The securities have not been registered under U.S. or state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning, among other things, Weatherford International, Inc.'s future results and prospects for its operations, integration of recent acquisitions and business trends, all of which are subject to certain risks, uncertainties and assumptions. These risks, uncertainties and assumptions, 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, the ability to achieve the anticipated synergies and savings from the integration of recent acquisitions and other cost reduction measures, and the effect of foreign currency fluctuations. 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.

CONTACT: Lisa Rodriguez of Weatherford International, Inc., +1-713-693-4746.

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SOURCE Weatherford International, Inc.

CONTACT:          Lisa Rodriguez of Weatherford International, Inc.,
                  +1-713-693-4746
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URL:              http://www.weatherford.com 
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