Weatherford International hit with FCPA fine

Oilfield services company to pay over a quarter of a billion dollars

Weatherford International, an oilfield services company, has agreed to a settlement to resolve probes into a number of matters, including bribery, export control and violations of sanctions.

The company, which was founded in Texas but is now based in Geneva, was the subject of multiple investigations. Weatherford made two deferred-prosecution agreements and issued guilty pleas from three of its units, in an attempt to resolve the probes. The primary result, was the payment of $252.7 million in penalties and fines, according to the U.S. Justice Department.

Senior Editor and Community Manager

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Rich Steeves

Richard P. Steeves is Senior Editor and Community Manager of InsideCounsel magazine, where he covers the intellectual property and compliance beats. Rich earned a B.A....

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