Background and Organizational Struc

Background and Organizational Structure 3.2
Weatherford is a leading provider of equipment and services to the oil and natural gas exploration
and production industry. Weatherford conducts operations in over 100 countries, which are located
in nearly all of the oil and natural gas producing regions in the world, and has manufacturing
facilities and sales, service, and distribution locations throughout the world. As of December 31,
2013, Weatherford had approximately 70,000 employees.
Weatherford is among the leaders in each of its primary markets, and its distribution and service
network is one of the most extensive in the industry. Demand for the industry’s services and
products depends on the number of oil and natural gas wells drilled, the depth and drilling
conditions of the wells, the number of well completions, and the level of workover activity
worldwide.
Weatherford's geographic revenue split between its four regions is as such: North America 42.0
percent, Middle East and North Africa (“MENA”) 22.0 percent, Europe 18.0 percent, and Latin
America 19.0 percent. Weatherford's strategic objectives are as follows:
• Continuously improve the efficiency, productivity, and quality of products and services as
well as its respective delivery in order to grow revenues and operating margins in all
geographic markets at a rate exceeding underlying market activity;
• Through a commitment to innovation and invention, develop and commercialize new products and services capable of meeting evolving market needs of customers across the
reservoir lifecycle; and
• Extend global infrastructure in an efficient manner to meet customer demand for products
and services.
In the past seven years, Weatherford has completed numerous acquisitions and divestitures. The
most recent ones are descrbed below. .
Weatherford completed the sale of its industrial screen business under Johnson Screens during the
first quarter of 2013.
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In January 2013, Weatherford acquired certain assets of Entre Siderca SAIC,
Argentina, and purchased shares in Techno Rada Labs Sdn Bhd, Malaysia, and 1273941 Ontario Inc.
By the end of 2013, DSK Inc. was merged into Weatherford Artificial Lift Systems LLC, and certain
manufacturing assets were sold to various unrelated third parties.