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TheStreet Open House

Weatherford International Management Discusses Q2 2012 Results - Earnings Call Transcript

Weatherford International (WFT)

Q2 2012 Earnings Call

July 25, 2012 8:00 am ET

Executives

Bernard J. Duroc-Danner - Chairman, Chief Executive Officer and President

John H. Briscoe - Chief Financial Officer and Senior Vice President

Analysts

William A. Herbert - Simmons & Company International, Research Division

James D. Crandell - Dahlman Rose & Company, LLC, Research Division

Ole H. Slorer - Morgan Stanley, Research Division

James C. West - Barclays Capital, Research Division

Angeline M. Sedita - UBS Investment Bank, Research Division

Kurt Hallead - RBC Capital Markets, LLC, Research Division

Michael W. Urban - Deutsche Bank AG, Research Division

Scott Gruber - Sanford C. Bernstein & Co., LLC., Research Division

Presentation

Operator

Good morning. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Weatherford International Second Quarter 2012 Earnings Conference Call. [Operator Instructions] As a reminder, ladies and gentlemen, today's call is being recorded. Thank you.

I would now like to turn the conference over to Mr. Bernard Duroc-Danner, Chairman, President and Chief Executive Officer. Sir, you may begin your conference.

Bernard J. Duroc-Danner

Thank you. Good morning, everyone. John will start with his comments and followed by mine.

John H. Briscoe

Thank you, Bernard, and good morning, everyone. Before my prepared comments, I would like to remind listeners that this call contains forward-looking statements within the meaning of applicable securities laws, and also includes non-GAAP financial measures. A detailed disclaimer related to our forward-looking statements is included in our press release, which has been filed with the SEC and is available on our website at weatherford.com or upon request. Similarly, a reconciliation of excluded items and non-GAAP financial measures is included in our press release and also on our website.

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