Fact - Total Assets = 12.013 billion. But that includes 2.346 billion Goodwill. Which is the amount they overpaid for all the companies they bought over the years.
Fact - Total Liabilities = 10.685 billion.
So total assets are actually 9.667 billion. And that is being generous. Because I know for a fact that all the company assets are cannibalized to keep the field assets working. If they wrote off all the bad assets they would probably lose 30% of the asset value. And Inventory has a huge portion of scrap, that has been sitting in yards rusting, because they didn't raise AFE's to capitalized the assets after the downturn. So there is another huge write off sitting in the inventory.
Bottom Line: Weatherford has negative value (Liabilities greater than the Assets). No one would buy WFT, so stop holding out for a savior. Any company can spend less money and get the assets for cash. Just like Schlum did.
I know they just got 400 million. But that is a drop in the bucket and they probably wont even use it to pay down debt. Because they are greedy and stupid.