In a securities filing, Weatherford also said that its chief financial officer, John Briscoe, was leaving the company effective immediately.
The double-barrelled news blast sent the company's shares down on Thursday morning. They opened down more than 7% in New York and were trading at $14.92 apiece around midday.
Weatherford sold its 38.5% stake in Russia-based Borets to joint venture partner Tangent Fund Limited for $400 million.
