Weatherford Announces Results to Date of Cash Tender Offers

Weatherford International Ltd., a Swiss joint-stock corporation WFT, announced today that approximately $167,066,000 in aggregate principal amount of notes were tendered prior to 11:59 p.m., New York City time, on September 22, 2010 pursuant to the previously announced cash tender offer by Weatherford International, Inc., a Delaware corporation and subsidiary of Weatherford, for any and all of its outstanding 6 5/8% Senior Notes due November 15, 2011. The Any and All Offer is one of two separate offers, with the other being a "Maximum Tender Offer," as discussed below. Both offers are made pursuant to an offers to purchase document and related letter of transmittal, which set forth a comprehensive description of the terms of the tender offers. In the Maximum Tender Offer, Weatherford Delaware is offering to purchase, under certain conditions, its 5.95% Senior Notes due June 15, 2012, and Weatherford International Ltd., a Bermuda exempted company and subsidiary of Weatherford is offering to purchase, under certain conditions, its 5.15% Senior Notes due March 15, 2013, and its 4.95% Senior Notes due October 15, 2013. The maximum principal amount of notes to be purchased pursuant to the Maximum Tender Offer has been set as $532,934,000. Such maximum amount is equal to the difference between $700,000,000 and the face amount of notes validly tendered and accepted for payment in the Any and All Offer. The amounts of each series of notes to be purchased in the Maximum Tender Offer are prioritized and may be prorated as set forth in the offers to purchase document.
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