Exhibit 99.1

wftgraphic8252a012a02a01a10.jpg
News Release

Weatherford Reports Second Quarter 2017 Results

BAAR, SWITZERLAND, July 28, 2017 - Weatherford International plc (NYSE: WFT) reported a net loss of $171 million, or a loss of $0.17 per share, and a non-GAAP net loss of $282 million before charges and credits ($0.28 non-GAAP loss per share) on revenues of $1.36 billion for the second quarter of 2017.

Second Quarter 2017 Highlights
Excluding the adjustment related to a change in our revenue recognition in Venezuela, operating margins improved by 400 basis points sequentially;
Net cash used in operating activities was $62 million, a sequential improvement of 65%;
OneStimSM joint venture with Schlumberger on track to close in the second half of 2017;
Signed a Memorandum of Understanding (MOU) with Saudi Aramco, advancing localization in Saudi Arabia; and
Signed a technology cooperation agreement with Gazprom Neft intended to further develop current business relationships and collaborations between the two companies.

Mark A. McCollum, President and Chief Executive Officer, commented, “I am pleased that our team has delivered a solid second quarter performance. We generated significantly higher incrementals, improved our cash flow compared to the previous quarter and provided our customers with nearly flawless service quality execution. Looking forward, I see a lot of opportunities for further performance improvements, and we have initiated several projects to unlock and accelerate these opportunities to drive stronger financial results and meaningfully reduce our debt and increase market share. We have great technology, a global presence, outstanding collaborative customer relationships and a high-caliber workforce, allowing us to be a partner of choice for our customers in many basins around the world.”


1

The following information was filed by Weatherford International Plc (WFT) on Friday, July 28, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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