BAAR, Switzerland, Nov. 28, 2017 /PRNewswire/ -- Weatherford
International plc (NYSE: WFT) announces that the U.S. Department of
Justice has cleared the proposed OneStimSM joint venture
between Weatherford and Schlumberger Ltd., granting early
termination of the waiting period required by the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, thus paving the way for a
fourth quarter 2017 closing.
Following closing, OneStim will deliver completions products and
services for the development of unconventional resource plays in
the United States and Canada land markets and offer one of the
broadest multistage completions portfolios in the market combined
with one of the largest hydraulic fracturing fleets in the
industry.
Forward-Looking Statements
This press release contains forward-looking statements regarding
the OneStim joint venture and Weatherford. These forward-looking
statements include, among other things, the joint venture, and
Weatherford's strategies and priorities and are also generally
identified by the words "believe," "project," "expect,"
"anticipate," "estimate," "outlook," "budget," "intend,"
"strategy," "plan," "guidance," "may," "should," "could," "will,"
"would," "will be," "will continue," "will likely result," and
similar expressions, although not all forward-looking statements
contain these identifying words. Such statements are based upon
Weatherford's current beliefs and are subject to significant risks,
assumptions and uncertainties. Should one or more of these risks or
uncertainties materialize, or underlying assumptions prove
incorrect, actual results of Weatherford or the joint venture may
vary. Readers are also cautioned that forward-looking statements
are only predictions and may differ materially from actual future
events or results. Forward-looking statements are also affected by
the risk factors described in the Company's Annual Report on Form
10-K for the year ended December 31,
2016, the Company's Quarterly Reports on Form 10-Q, and
those set forth from time-to-time in the Company's other filings
with the Securities and Exchange Commission. We undertake no
obligation to correct or update any forward-looking statement,
whether as a result of new information, future events, or
otherwise, except to the extent required under federal securities
laws.
About Weatherford
Weatherford is one of the largest multinational oilfield service
companies providing innovative solutions, technology and services
to the oil and gas industry. The Company operates in over 90
countries and has a network of approximately 860 locations,
including manufacturing, service, research and development, and
training facilities and employs approximately 29,500 people. For
more information, visit www.weatherford.com and connect with
Weatherford on LinkedIn, Twitter, YouTube and Facebook.
Weatherford Contacts
Christoph
Bausch – Executive Vice President and Chief Financial
Officer
Tel: +1 713.836.4615
Karen David-Green – Vice
President Investor Relations, Marketing & Communications
Tel: +1 713.836.7430
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SOURCE Weatherford International plc