Weatherford
international plc
At the cowen & company 5th annual ultimate energy conference
New york, ny
December 2, 2015
©2015 Weatherford International plc. All rights reserved.
1
The Reality of our position
complete
offering
global
technology
infrastructure
depth
low
market share
Power of
integration
Changed Operating
economics
And culture
©2015 Weatherford International plc. All rights reserved.
2
Our direction
Our Actions and initiatives will be Centered Perennially around :
Harvesting our core
Lowering our cost structure Through cycles
Allocating Capital and generating cash As company-wide discipline
“We confirm our direction is steadfast.”
©2015 Weatherford International plc. All rights reserved.
3
Our core
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4
Our complete offering and technology depth
FORMATION
EVALUATION
Complete Reservoir
Evaluation and
Characterization Services
(excluding seismic):
Core Evaluation
Logging-while-Drilling
(unique sensing)
 Wireline (specific sensing
and conveyance)
 Advanced Mudlogging
 Petroleum Consulting


WELL
CONSTRUCTION
Industry Leadership:






Tubular Running Services
Managed Pressure
Drilling (MPD)
Drilling with casing
Cementation products
Liner hangers
Solid expandables
COMPLETION
Differentiated
Completion Portfolio:





Openhole Completion
Systems
Multifaceted zonal
isolation capability
Sand control technology
Latest generation
Completion technology
Pressure Pumping
PRODUCTION
Industry Leadership:
Reciprocating Rod Lift
Progressing Cavity
Pumping
 Gas Lift
 Plunger Lift
 Hydraulic Lift
 Production Optimization
(all forms)
⁻ Control systems
⁻ Flow measurement
⁻ Reservoir monitoring
⁻ Software


Land rigs
( non-core )
Weatherford has 113
total rigs, including
Drilling and Workover
units across 18 countries;
78% or 88 rigs are
currently located in the
Eastern Hemisphere
Land rig business carvedout and separated into an
independent segment as of
1Q 2015
“The depth and breadth of our technology anchors us in opportunity”
©2015 Weatherford International plc. All rights reserved.
5
Our broad global infrastructure
NORTH AMERICA
Manufacturing and Service
544
Employees
30%
Manufacturing and Service
219
Employees
20%
EUROPE / RUSSIA
Moscow
Aberdeen
Calgary
LATIN AMERICA
Houston
Switzerland
Dubai
Manufacturing and Service
191
Employees
15%
Singapore
Bogota
MIDDLE EAST / NORTH AFRICA
Manufacturing and Service
117
Employees
23%
Johannesburg
ASIA PACIFIC
Manufacturing and Service
Employees
109
8%
SUB-SAHARAN AFRICA
Manufacturing and Service
58
Employees
4%
Total Facilities
100+ Countries
6 Continents
1,238 Locations
Principal Office
Regional Office
1,238
©2015 Weatherford International plc. All rights reserved.
6
permanently transforming
Our cost structure
©2015 Weatherford International plc. All rights reserved.
7
Lowering Cost – reducing headcount
6,096
Year-End Headcount* 2013 – 2015E
80,000
Positions eliminated in 2014
70,000
60,000
39,700
2015E year-end headcount
Headcount
2015 YTD net reduction of
14,500 positions
67,000
56,000
50,000
42,800
40,000
39,700
30,000
20,000
10,000
-
2013
*Includes all employees
**Includes Land Rig headcount of 4,719
2014
3Q15**
2015E
©2015 Weatherford International plc. All rights reserved.
8
Lowering Cost – eliminating unprofitable operations
64
operating locations
closed in 2014
Moscow
Aberdeen
Calgary
Houston
Switzerland
Dubai
105
operating facilities closed in 2015
Ongoing and increased focus on
Singapore
Bogota
Supply Chain efficiencies
Johannesburg
Principal Office
Regional Office
©2015 Weatherford International plc. All rights reserved.
9
Peer Decrementals 2009 vs. 2015
2008-2009 YTD Decrementals
0%
2014-2015 YTD Decrementals
0%
-20%
-20%
-40%
-27.7%
-40%
-60%
-31.3%
-33.1%
-38.8%
-55%
-65%
-80%
-78%
-60%
-100%
-80%
-120%
-100%
-140%
-140%
-160%
-120%
WFT
SLB
Note: Operating Income excludes Corporate and other
HAL
BHI
WFT
SLB
HAL
BHI
©2015 Weatherford International plc. All rights reserved. 10
Permanently transforming our cost structure
Core Businesses Support Ratio*
Targeted 2015 core support ratio
Below 40%
70%
60%
59%
50%
45%
40%
Core support ratio improved
by 19% from 2013 ‒ 2015
39.8% from 59%
39.8%
Low-mid 30%
Current**
2017E
30%
20%
10%
0%
*Core Businesses Support Ratio calculated as support functions over direct functions
**As of November 20, 2015
2013
2014
©2015 Weatherford International plc. All rights reserved. 11
Permanently transforming our cost structure
$2B
Cost Savings 2014-2015
~$750M
Permanent Cost Savings
$ in millions
2014-2015E Annualized Cost Savings
$2,200
$2,000
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$-
$2.0B
~$1.4B
$602M
ACTUAL
2014
2014
ESTIMATES
ACTUAL
2015E
2015E
ESTIMATES
ESTIMATES
Total
Cost
2016E
Savings
“Our results demonstrate what can be achieved
with relentless focus.”
©2015 Weatherford International plc. All rights reserved. 12
Systematic talent development
8 REGIONS | 6 NEW LEADERS
Our TALENT
Initiatives and Culture

Introduced systemic and collaborative talent
review process, achieving high level of
leadership engagement

Reformed philosophy and approach to
sourcing and developing our next generation

Restructured Management Bonus Plan to
sharpen focus on relative peer performance
on both the top and bottom lines
12 PRODUCT LINES | 7 NEW LEADERS
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Cash and returns
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Returns ─ 2015 and beyond will see positive free cash flow
Working Capital  $560M in 2015 vs. ($240M) in 2014
We are
Capex
our efforts on
Iraq / zubair
intensifying
Free Cash Flow
generation
Severance
Free cash flow
*Excludes Friedman settlement
 $650M in 2015 vs. $1,450M in 2014
 Mechanical Completion milestone achieved;
cash neutral in 2H 2015
 Severance payments reduced in 2H 2015
Positive $150 to $250M target for 2015*
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2016 free cash flow to repay debt maturities
Working Capital
 Increased earnings and working capital offset
 Inventory and DSO continue to decrease
2016
non-recurring
charges
Capex
significantly
Iraq / zubair
 2016 net cash flow from Zubair contract in Iraq to be FCF
positive, YoY $200M net change
Severance
 2016 cash severance and restructuring costs <$20M, with
>$150M improvement YoY vs. 2015
curtailed
Free cash flow
 2016 capex expected to be ~$400M, $250M less than 2015
~$600M incremental cash flow vs. 2015
©2015 Weatherford International plc. All rights reserved. 16
Easily manageable debt
14 year gap
$1,200
9.625%
$1,000
5.125%
$ millions
$800
4.5%
6.35%
$600
6.0%
$400
$1,000
5.50%
5.95%
$800
6.80%
$646
$600
$500
$200
6.75%
7.0%
6.50%
9.875%
$461
$455
$350
$300
$487
$412
$250
$0
2016


2017
2018
2019
2020
2021
2022
2036
2037
2038
2039
2040
2041
2042
2016 – 2018 bond maturities will be funded completely from free cash flow
Recovering Investment Grade credit ratings in 2017
©2015 Weatherford International plc. All rights reserved. 17
A disciplined approach
Capital Expenditures* 2007-2015E
Former years of overspending
Infrastructure, Real Estate,
Product Line Development
55%
Reduction
$3,000
$2,500
30%
25%
Significantly lower
Capex going forward
In millions
26%
$2,000
20%
14%
$1,500
15%
21%
18%
$1,000
10%
12%
10%
10%
Lower spending will not
impede our growth
prospects
Source: Company Data
*Capex figures are shown as a percentage of revenues
10%
$500
<7%
$-
5%
0%
2007
2008
2009
2010
2011
Capital Expenditures
2012
2013
2014 2015E
% of Revenue
©2015 Weatherford International plc. All rights reserved. 18
Our outlook
©2015 Weatherford International plc. All rights reserved. 19
Weatherford today ─ our company transformed
Our Competitive Strengths
 Our operating capabilities are focused and immeasurably stronger
 We have product line depth and breadth
 Our service and manufacturing infrastructure is vast and worldwide
 Our technological strengths anchor us in opportunity
 We are developing our talent bench as a culture
“Our results are proving the merits of our Direction.”
©2015 Weatherford International plc. All rights reserved. 20
Our outlook ‒ what we do know
Decline Rates are Destiny
Weatherford is a Different Company
Competitive Context Favorable
©2015 Weatherford International plc. All rights reserved. 21
DISCLAIMER
This presentation contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 concerning, among other things, Weatherford’s prospects for its operations
and expectations regarding future financial results which are subject to certain risks, uncertainties and
assumptions. These risks and uncertainties, which are more fully described in Weatherford International
plc’s reports and registration statements filed with the SEC, include but are not limited to the impact of oil
and natural gas prices and worldwide economic conditions on drilling activity, the outcome of pending
litigation, our ability to maintain robust internal controls over financial reporting, the demand for and
pricing of Weatherford’s products and services, domestic and international economic and regulatory
conditions, changes in tax and other laws affecting our business, results of our tax planning and cost
reduction efforts, our ability to complete our reductions in force and facility closures and realize cost
savings, effects of extreme weather conditions and global political instability. Should one or more of these
risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary
materially from those currently anticipated.
©2015 Weatherford International plc. All rights reserved. 22