Weatherford to Assume Ownership of e2Tech Limited

Weatherford International has exercised its option to assume control of e2Tech Limited from Shell Technology Ventures Limited. The option had been granted under the terms of an earlier transaction between Weatherford and Shell pursuant to which Weatherford had been granted a global license for certain expandable tubular technology developed by Shell. By exercising the option, Weatherford now has access to a new range of expandable tubular technology for well completion and well construction and related intellectual property rights acquired by e2Tech.