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Monday, December 1, 2014

Weatherford sells chemicals, drilling fluids units to Lubrizol, (NYSE: WFT)

Oilfield services provider Weatherford International Plc said Berkshire Hathaway Inc's Lubrizol Corp would pay $750 million in cash for two businesses that provide chemicals and drilling fluids for oil and gas production. Weatherford said the sale of its engineered chemistry and integrity drilling fluids businesses also included a potential increase of $75 million tied to the performance of the units after the deal closes.

West Fraser Timber Co. Ltd. is a Canada-based wood products company. Shares of WFT fell by 14.38% or $-2.2/share to $13.10. In the past year, the shares have traded as low as $12.88 and as high as $24.88. On average, 9266860 shares of WFT exchange hands on a given day and today's volume is recorded at 9873981.