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Weatherford Int'l Announces Confirmation Of Plan Of Reorganization

Weatherford International plc said that the United States Bankruptcy Court for the Southern District of Texas issued an order confirming the company's Second Amended Joint Prepackaged Plan of Reorganization of Weatherford International plc and its Affiliate Debtors under Chapter 11 of the United States Bankruptcy Code. The company expects that the effective date of the Plan will occur before year-end.

The company noted that amended plan of reorganization contemplates the reduction of about $5.85 billion in debt.

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