Weatherford re-engineers approach and launches new production and reservoir monitoring offering

GENEVA, Oct. 28, 2013 /PRNewswire/ -- Weatherford International's production systems business unit today announced the worldwide release of OmniWell™ Production and Reservoir Monitoring at Intelligent Energy Conference 2013 in Dubai, UAE. Weatherford's OmniWell solutions provide unified reservoir monitoring for real-time downhole data in well conditions ranging from routine to the most extreme environments.

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Fit-for-purpose OmniWell solutions incorporate electronic and optical sensing technologies. These high-performance solutions deliver reliable, real-time data for pressure, thermal, flow, acoustic and seismic applications to enable more informed, actionable decision making. A unique Weatherford-designed downhole OmniWell cable physically integrates multiple measurement solutions. The data from those solutions is acquired at the surface and processed through a scalable data management platform that seamlessly relays critical data to powerful visualization and analysis platforms in real time.

"This new approach for permanent monitoring solutions doesn't just represent new tools and technology for operators," noted Tad Bostick, Vice President of Reservoir Monitoring for Weatherford. "The OmniWell approach simplifies and unifies integration and workflows for reservoir solutions for all well types in today's broad range of production environments. This is a shift from a typical tool-based or fragmented data collection approach to a more unified solution where various streams of critical data are transferred to an operator from multiple downhole sources—when he or she needs it—through a unified system, for better production and asset management."

Weatherford is also introducing a new, scalable data platform for acquiring, integrating and managing critical well data, plus software and services to simultaneously visualize dynamic, multi-parameter data for changing well conditions. The integrated data platform for multi-application, multi-measurements and distributed sensing enables correlated readings and permits advanced, real-time characterization of the well environment. This software and service platform provides a powerful window for analysis and action.

This unified approach is further demonstrated in the simplified OmniWell optical cable system, which can operate in low to extreme temperatures and pressures and can deliver the widest variety of sensing data available in the industry. Simplified downhole cabling will finally enable real value sensing for activities such as flow profiling, frac monitoring, production surveillance and thermal profiling.

Weatherford has over 25 years of experience in reservoir monitoring including electronic and optical permanent downhole sensing technologies, in onshore and offshore wells around the world. Weatherford has deployed permanent monitoring systems using electronic gauges in more than 5,000 wells and has deployed monitoring systems averaging 10 optical sensors each in more than 600 wells. The Weatherford track record includes many world firsts and award-winning technologies, among them milestones of deploying over 15 million feet (4,570km) of optical fiber permanently installed in wells. With the broadest range of sensors in the industry today, Weatherford provides fit-for-purpose solutions for all land and offshore wells, for new and aging reservoirs, covering all applications including conventional artificial-lift monitoring, heavy oil applications, shale plays, steam flood, intelligent wells, extended reach horizontal wells, subsea wells and well integrity monitoring.

About Weatherford

Weatherford is a Swiss-based, multinational oilfield service company. It is one of the largest global providers of technology and services for the oil and gas industry. Weatherford operates in over 100 countries and employs over 65,000 people worldwide.

Contacts:

Wuen Fung Hor
Corporate Marketing and Communications Director
+1-713-836-6303

Kelley Hughes
Senior Corporate Communications Lead
+1-713-836-6493

Forward-Looking Statements
The statements set forth in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "intend," "expect," and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond Weatherford's control. Actual results and benefits may differ from any results expected or implied by such statements.

Weatherford undertakes no obligation to correct, update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required under federal securities laws.

For additional information, please see Weatherford's latest proxy statement, annual report and SEC Forms 10-K, 10-Q and 8-K for the past year, which are available on Weatherford's website at www.weatherford.com under "Investor Relations" and may also be obtained electronically by accessing the SEC's home page at http://www.sec.gov.