Dahlman Rose Comments On Weatherford Revenue Growth

According to Dahlman Rose, Weatherford WFT is expected to sell a number of non-core businesses over the next 12-18 months and realize net proceeds of several hundred million dollars. Dahlman Rose said that we are hopeful that the sanctioned country negotiations with various government agencies will be concluded soon and that the bribery piece will follow shortly. “We do not expect the impact of these settlements on Weatherford to be material. There is no connection to the asset sales and the sanctioned country/bribery settlement. Revenue growth for both 2011 and 2012 is expected to exceed 20%, as North America actively continues strong and international E&P spending begins what we expect will be a long recovery.” Weatherford closed on Friday at $17.03.