Press Release

SOURCE: The Dillard Anderson Group

Weatherford U.S., L.P. Acquires Alpha Oil Tools

Tuesday, May 9th, 2006

Press Release 

Weatherford International (NYSE: WFT) announced today that it has acquired Alpha Oil Tools, a Ft. Worth, Texas based company that manufactures equipment for use in oil and gas wells.  Alpha, which will become part of the Completion and Production Systems Division of Weatherford, specializes in drillable products used for well servicing and well abandonment.  

The addition of this product line complements the overall business for Weatherford International.  As oil fields mature and existing wells age, the demand for the Alpha Oil Tool product will continue to grow.  Alpha brings a quality product and a unique distribution arrangement to Weatherford, while Weatherford brings global infrastructure and technical support. 

Weatherford International, Ltd. provides equipment and services used for the drilling, completion, and production of oil and natural gas wells in the United States. The company operates through four divisions: Evaluation, Drilling & Intervention Services; Completion & Production Systems; Precision Drilling International; and Pipeline & Specialty Services.

The Dillard Anderson Group acted as exclusive financial advisors to Alpha on the sale to Weatherford.  Jim Smith, CEO and Jay Smith, Vice President, have accepted management positions with this new division of Weatherford.

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