-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Kr7omKn6ffna2izP95Ikn/mwUQEJHeOMAZHY5261vLS9XXtrWaQkpkHbTZjup0BG 1v+tLAgeDrlfYtOnlPV3aA== 0000912057-95-008647.txt : 19951017 0000912057-95-008647.hdr.sgml : 19951017 ACCESSION NUMBER: 0000912057-95-008647 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19951005 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19951016 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEATHERFORD ENTERRA INC CENTRAL INDEX KEY: 0000029302 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] IRS NUMBER: 741681642 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07867 FILM NUMBER: 95581069 BUSINESS ADDRESS: STREET 1: 1360 POST OAK BLVD STE 1000 CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 7134399400 MAIL ADDRESS: STREET 1: 1360 POST OAK BLVD STE 1000 CITY: HOUSTON STATE: TX ZIP: 77056 FORMER COMPANY: FORMER CONFORMED NAME: WEATHERFORD INTERNATIONAL INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DIXEL INDUSTRIES INC DATE OF NAME CHANGE: 19750618 8-K 1 FORM 8-K ============================================================================== SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: October 5, 1995 WEATHERFORD ENTERRA, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-7867 74-1681642 (State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.) 1360 POST OAK BOULEVARD, SUITE 1000 HOUSTON, TEXAS 77056-3098 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (713) 439-9400 ============================================================================== ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS On October 5, 1995, Weatherford International Incorporated, a Delaware corporation ("Weatherford"), and Enterra Corporation, a Delaware corporation ("Enterra"), completed the previously-announced merger (the "Merger") of Enterra with and into Weatherford. Effective as of the effective time of the Merger (the "Effective Time"), (i) the surviving corporation of the Merger ("WEI") was renamed "Weatherford Enterra, Inc." and (ii) Weatherford effected a one-for-two reverse stock split (the "Reverse Stock Split") of its outstanding common stock, par value $.10 per share (the "Weatherford Common Stock"). Pursuant to the Agreement and Plan of Merger, dated as of June 23, 1995 (the "Merger Agreement"), as amended as of August 28, 1995 and as of October 5, 1995, between Weatherford and Enterra, each of Enterra's approximately 28 million outstanding shares of common stock, par value $1.00 per share, was as of the Effective Time converted into the right to receive 0.845 of a share (which number reflects the Reverse Stock Split) of Weatherford Common Stock. The Merger is intended to be treated as a "pooling of interests" for accounting purposes under Accounting Principles Board Opinion No. 16. The Merger Agreement and Amendment No. 1 to the Merger Agreement have been previously filed with the Securities and Exchange Commission (the "Commission") as Exhibit 2.1 to Weatherford's Registration Statement on Form S-4 (Registration Number 33-62195) and are incorporated herein by reference. Amendment No. 2 to the Merger Agreement is attached hereto as Exhibit 2.2 and is incorporated herein by reference. Prior to the Merger, Enterra was a worldwide provider of specialized services and products to the oil and gas exploration, production and transmission industries. WEI intends to continue to provide products and services around the world to the oil and gas exploration, production and transmission industries. A press release relating to the closing of the Merger, dated October 5, 1995, is attached hereto as Exhibit 99.1 and is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED. Financial statements of Enterra for the periods specified in Rule 3-05(b) of Regulation S-X have been previously filed with the Commission as part of Weatherford's Registration Statement on Form S-4 (Registration Number 33-62195) and are incorporated herein by reference. (b) PRO FORMA FINANCIAL INFORMATION. Pro forma financial information required pursuant to Article 11 of Regulation S-X has been previously filed with the Commission as part of Weatherford's Registration Statement on Form S-4 (Registration Number 33-62195) and is incorporated herein by reference. (c) EXHIBITS. 2.1 Agreement and Plan of Merger dated as of June 23, 1995, as amended as of August 28, 1995, between Weatherford and Enterra (incorporated by reference to Exhibit 2.1 to Weatherford's Registration Statement on Form S-4 (Registration No. 33-62195)). 2.2 Amendment No. 2 to Agreement and Plan of Merger dated as of October 5, 1995, between Weatherford and Enterra. 99.1 Press Release of WEI dated October 5, 1995. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WEATHERFORD ENTERRA, INC. Dated: October 16, 1995 /s/ H. SUZANNE THOMAS ------------------------------------- H. Suzanne Thomas Senior Vice President, Secretary and General Counsel EXHIBIT INDEX 2.1 Agreement and Plan of Merger dated as of June 23, 1995, as amended as of August 28, 1995, between Weatherford and Enterra (incorporated by reference to Exhibit 2.1 to Weatherford's Registration Statement on Form S-4 (Registration No. 33-62195)). 2.2 Amendment No. 2 to Agreement and Plan of Merger dated as of October 5, 1995, between Weatherford and Enterra. 99.1 Press Release of WEI dated October 5, 1995. EX-2.2 2 EXHIBIT 2.2 AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER THIS AMENDMENT NO. 2 TO AGREEMENT AND PLAN OF MERGER, dated as of October 5, 1995, is between Weatherford International Incorporated, a Delaware corporation, and Enterra Corporation, a Delaware corporation. W I T N E S S E T H: WHEREAS, the parties hereto have entered into an Agreement and Plan of Merger dated as of June 23, 1995, and Amendment No. 1 to Agreement and Plan of Merger dated as of August 28, 1995 (collectively, the "Merger Agreement"); WHEREAS, the parties hereto wish to amend the Merger Agreement as set forth in this Amendment No. 2; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto agree as follows: Section 1. Exhibits 5.15, 5.19(a)(ii) and 5.19(a)(iv) to the Merger Agreement are amended to read in their entirety as attached hereto. Section 2. This Amendment No. 2 shall be governed in all respects, including, without limitation, validity, interpretation and effect, by the laws of the State of Delaware. Section 3. This Amendment No. 2 may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party. Section 4. As amended by this Amendment No. 2, the Merger Agreement remains in full force and effect. IN WITNESS WHEREOF, this Amendment No. 2 has been signed by or on behalf of each of the parties as of the date first above written. WEATHERFORD INTERNATIONAL INCORPORATED By /s/ PHILIP BURGUIERES ------------------------------------ Philip Burguieres Chairman of the Board, President and Chief Executive Officer ENTERRA CORPORATION By /s/ D. DALE WOOD ------------------------------------ D. Dale Wood Chairman of the Board, President and Chief Executive Officer -2- EX-99.1 3 EXHIBIT 99.1 NEWS RELEASE For more information contact: STEVEN C. GRANT, VICE PRESIDENT CORPORATE DEVELOPMENT (713) 439-9400 WEATHERFORD ENTERRA, INC. 1360 POST OAK BOULEVARD, SUITE 1000 HOUSTON, TEXAS 77056 PRESS RELEASE FOR IMMEDIATE DISTRIBUTION WEATHERFORD AND ENTERRA COMPLETE MERGER Houston, TX (October 5, 1995) - Weatherford International Incorporated (NYSE WII) and Enterra Corporation (NYSE EN) announced today completion of the merger of the two companies and a name change to Weatherford Enterra, Inc. Shareholders of both companies approved the merger at meetings held today. Weatherford shareholders also approved a one-for-two reverse stock split, the name change and various other matters at today's meeting. The merger was structured as a tax-free pooling of interests. Pursuant to the merger, all outstanding shares of Enterra common stock, approximately 28 million, were converted into approximately 24 million shares of Weatherford Enterra common stock at a ratio of 0.845 of a share of Weatherford Enterra stock, after giving effect to the reverse stock split. Following the merger and the reverse stock split, Weatherford Enterra will have approximately 51 million shares outstanding. The new shares will be listed on the New York Stock Exchange and will continue to carry the WII stock symbol. The Board of Directors of Weatherford Enterra will consist of Thomas N. Amonett, Philip Burguieres, William E. Greehey, John W. Johnson and Robert K. Moses, Jr. (former Weatherford directors) and John A. Hill, William E. Macaulay, Robert L. Parker, Sr., R. Rudolph Reinfrank and Roger M. Widmann (former Enterra directors). Burguieres, Chairman, President and CEO of Weatherford, will serve as Chairman, President and CEO of Weatherford Enterra. Pro forma 1994 revenues, net income, and cash flow (defined as net income plus depreciation) for the combined entities would have been $903 million, $70 million and $158 million, respectively. These pro forma results assume completion as of January 1, 1994 of various other transactions in 1994 and 1995, including the Weatherford Enterra merger and the pending Energy Industries acquisition scheduled to close in November, and realization of certain operational and combination savings benefits resulting from these transactions. Current market capitalization of Weatherford Enterra is approximately $1.5 billion. -more- Following the merger, the significantly expanded Company will operate through six core businesses; rental and fishing services; tubular handling services; gas compression products and services; cementation products; pipeline construction products and services; and energy products and services. In commencing on the merger, Burguieres noted that the combination of two of the leading oil field service companies should be a real benefit to the Company's customers. He commented that "with over 6,000 employees serving customers from over 200 locations worldwide, the new Company will be better able to serve its customers through the more efficient delivery of a broader range of products and services. By benefitting our customers, we benefit our shareholders and employees as well. This merger is an excellent example of our continuing effort to enhance shareholder value." Weatherford Enterra is a Houston, Texas-based diversified international energy service and manufacturing company that provides products and services around the world to the oil and gas exploration, production and transmission industries. ### -----END PRIVACY-ENHANCED MESSAGE-----