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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
   FORM 11-K
 FOR ANNUAL REPORTS OF EMPLOYEE STOCK
PURCHASE, SAVINGS AND SIMILAR PLANS
PURSUANT TO SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2006
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission file number 1-31339
   WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
   Weatherford International Ltd.




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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 INDEX TO FINANCIAL STATEMENTS
 AND SUPPLEMENTAL SCHEDULES
 PageReport of Independent Registered Public Accounting Firm
    
    
    2Financial Statements-Statements of Net Assets Available for Benefits as of
December 31, 2006 and 2005
    
    
    3Statement of Changes in Net Assets Available for Benefits
for the Year Ended December 31, 2006
    
    
    4Notes to Financial Statements
    
    
    5Supplemental Schedules:Schedule H, Line 4(a), Schedule of Delinquent Participant Contributions
    
    
    11Schedule H, Line 4(i), Schedule of Assets (Held at End of Year)
    
    
    12Consent of Independent Registered Public Accounting Firm
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 
 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
 DECEMBER 31, 2006 AND 2005
 2006
    
    
    2005ASSETS:Investments, at fair value
    
    $
    392,258,525
    
    
    $
    293,882,666Receivables-Participants contributions
    
    
    1,354,848
    
    
    
    22,405Company contributions
    
    
    1,404,201
    
    
    
    11,456Loan repayment receivable
    
    
    226,646
    
    
    
    1,941Accrued income receivable
    
    
    39,574
    
    
    
    3,935Pending settlement
    
    
    12,167
    
    
    
    128,305Total receivables
    
    
    3,037,436
    
    
    
    168,042NET ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
    
    
    395,295,961
    
    
    
    294,050,708Adjustment from fair value to contact
value for fully benefit-responsive
investment contracts
    
    
    1,409,962
    
    
    
    1,217,639NET ASSETS AVAILABLE FOR BENEFITS
    
    $
    396,705,923
    
    
    $
    295,268,347
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##### Table of Contents



WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 
 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
 FOR THE YEAR ENDED DECEMBER 31, 2006
 ADDITIONS:Net appreciation in fair value of collective trusts
    
    $
    3,757,633Net appreciation in fair value of common stocks
    
    
    4,732,447Net appreciation in fair value of mutual funds
    
    
    12,023,893Interest income
    
    
    898,285Dividend income
    
    
    16,504,30637,916,564Contributions-Participants
    
    
    38,485,724Company
    
    
    16,545,398Rollovers
    
    
    5,346,54560,377,667Transfers from other plans
    
    
    31,465,695Total additions
    
    
    129,759,926DEDUCTIONS:Benefits paid to participants and beneficiaries
    
    
    28,257,315Administrative fees
    
    
    65,035Total deductions
    
    
    28,322,350NET INCREASE
    
    
    101,437,576NET ASSETS AVAILABLE FOR BENEFITS, beginning of year
    
    
    295,268,347NET ASSETS AVAILABLE FOR BENEFITS, end of year
    
    $
    396,705,923
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 
 NOTES TO FINANCIAL STATEMENTS
 DECEMBER 31, 2006
 DESCRIPTION OF THE PLAN:
  General
    Eligibility
     Contributions
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 NOTES
TO FINANCIAL STATEMENTS  (Continued)
    Participant Accounts
  Investment Options
  Vesting
  Expenses of the Plan
  Participant Loans
 The Wall Street Journal
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 NOTES
TO FINANCIAL STATEMENTS  (Continued)
 Withdrawals and Terminations
   Plan Termination
  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
 Basis of Accounting
  New Accounting Pronouncement
 Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain
Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health
and Welfare and Pension Plans .
 Reporting of Investment Contracts Held by Health and Welfare Benefit
Plans and Defined Contribution Pension Plans,
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 NOTES
TO FINANCIAL STATEMENTS  (Continued)
 Use of Estimates
  Valuation of Investments and Income Recognition
    Payment of Benefits
  INVESTMENTS:
  2006
    
    2005Retirement Preservation Trust (formerly, Merrill Lynch
Retirement Preservation Trust) (stated at contract value)
    
    $
    74,208,535
    
    
    $
    67,646,584Common Shares of Weatherford International Ltd.
    
    
    56,719,845
    
    
    
    39,703,706Davis New York Venture Fund
    
    
    46,018,071
    
    
    
    33,614,215Equity Index Trust (formerly, Merrill Lynch Equity Index Trust)
    
    
    28,407,623
    
    
    
    23,951,889Blackrock International Value Fund (formerly, Merrill Lynch
International Value Fund)
    
    
    27,266,979
    
    
    
    14,221,534PIMCO Total Return Fund
    
    
    26,031,266
    
    
    
    18,742,592Goldman Sachs Mid Cap Value Fund
    
    
    21,550,360
    
    
    
    5,099,619Blackrock Balanced Capital Fund, Inc. (formerly, Merrill Lynch
Balanced Capital Fund, Inc.)
    
    
    20,898,937
    
    
    
    16,430,659
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 NOTES TO FINANCIAL STATEMENTS (Continued)
 ASSETS TRANSFERRED FROM OTHER PLANS:
  Month
    
    Plan
    
    AmountJanuary
    
    Precision Energy Services Savings Plan
    
    $
    30,502,709May
    
    Valkyrie Commissioning Services, Inc. 401(k) Savings Plan
    
    
    295,537July
    
    High Pressure Integrity, Inc. 401(k) Profit Sharing Plan
    
    
    667,449$
    31,465,695
 RISKS AND UNCERTAINTIES:
  RELATED PARTY TRANSACTIONS:
  TAX STATUS:
  RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500:
  2006
    
    
    2005Net assets available for benefits per the financial statements
    
    $
    396,705,923
    
    
    $
    295,268,347Amounts allocated to withdrawing participants
    
    
    (252,552
    )
    
    
    (2,953
    )Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
    
    
    (1,409,962
    )
    
    
    3⁄4Net assets available for benefits per the Form 5500
    
    $
    395,043,409
    
    
    $
    295,265,394
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 NOTES TO FINANCIAL STATEMENTS (Continued)
  Net increase in net assets available for benefits per the financial statements
    
    $
    101,437,576Less: Amounts allocated to withdrawing participants at December 31, 2006
    
    
    (252,552
    )Add: Amounts allocated to withdrawing participants at December 31, 2005
    
    
    2,953Less: Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
    
    
    (1,409,962
    )Net increase in net assets available for benefits per Form 5500
    
    $
    99,778,015
   SUBSEQUENT EVENTS:
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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 
 SCHEDULE H, LINE 4(a), SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
 EIN: 04-2515019 PN:002
 YEAR ENDED DECEMBER 31, 2006
 Participant Contributions
    
    Total that Constitute NonexemptTransferred Late to Plan
    
    Prohibited Transactions$93,737*
    
    $93,737*
 
 *
    
    Lost earnings were remitted to the Plan on August 16,
2006. 11




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WEATHERFORD INTERNATIONAL, INC. 401(k) SAVINGS PLAN
 
 SCHEDULE H, LINE 4(i), SCHEDULE OF ASSETS (HELD AT END OF YEAR)
 EIN: 04-2515019 PN:002
 DECEMBER 31, 2006
 Principal NumberIdentity of Issue
    
    Description of Investment
    
    of Units/ Shares
    
    
    Current ValueCOLLECTIVE TRUSTS:*Merrill Lynch Bank USA
    
    Equity Index Trust
    
    
    264,355
    
    
    $
    28,407,623*Merrill Lynch Bank USA
    
    Retirement Preservation Trust
    
    
    74,208,535
    
    
    
    72,798,573Total collective trusts
    
    
    
    
    
    
    101,206,196MUTUAL FUNDS:American Beacon Funds
    
    American Beacon Small Cap Value Fund
    
    
    401,315
    
    
    
    8,507,883American Funds
    
    American Growth Fund of America, Inc.
    
    
    241,605
    
    
    
    7,939,137*Blackrock, Inc.
    
    Blackrock Balanced Capital Fund, Inc. (formerly, Merrill Lynch Balanced Capital Fund, Inc.)
    
    
    762,457
    
    
    
    20,898,937*Blackrock, Inc.
    

Blackrock Bond Fund, Inc. (formerly, Merrill Lynch Corporate Bond Intermediate Term Portfolio)
    
    
    304
    
    
    
    3,494*Blackrock, Inc.
    
    Blackrock Global Allocation Fund, Inc. (formerly, Merrill Lynch Global Allocation Fund, Inc.)
    
    
    774,982
    
    
    
    14,112,422*Blackrock, Inc.
    
    Blackrock International Value Fund (formerly, Merrill Lynch International Value Fund)
    
    
    876,470
    
    
    
    27,266,979Davis Venture Group
    
    Davis New York Venture Fund
    
    
    1,181,465
    
    
    
    46,018,071Federated Income Securities
    
    Federated Fund for US Government Securities
    
    
    96,059
    
    
    
    735,812Fidelity Investments
    
    Fidelity Advisors Small Cap Growth Fund
    
    
    626,264
    
    
    
    14,198,948Goldman Sachs
    
    Goldman Sachs Growth Opportunities Fund
    
    
    360,924
    
    
    
    8,102,739Goldman Sachs
    
    Goldman Sachs Mid Cap Value Fund
    
    
    553,851
    
    
    
    21,550,360MFS Investment Management
    
    MFS International New Discovery Fund
    
    
    461,007
    
    
    
    12,603,925PIMCO Mutual Funds
    
    Pimco Total Return Fund
    
    
    2,507,829
    
    
    
    26,031,266Van Kampen Investments
    
    Van Kampen Equity & Income Fund
    
    
    802,161
    
    
    
    7,315,706Total mutual funds
    
    
    
    
    
    
    215,285,679COMMON STOCKS:*Weatherford International Ltd.
    
    Common Shares of Weatherford International Ltd.
    
    
    1,357,259
    
    
    
    56,719,845Grant Prideco, Inc.
    
    Common stock of Grant Prideco, Inc.
    
    
    132,648
    
    
    
    5,275,419Total common stocks
    
    
    
    
    
    
    61,995,264OTHER:*Merrill Lynch Trust Company
    
    Cash, interest-bearing
    
    
    
    
    
    
    272,647*Participant loans
    
    Interest rates ranging from 5.0% to 10.5% with varying maturity dates
    
    
    
    
    
    
    13,498,739Total assets
    
    
    
    
    
    $
    392,258,525
 
 
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SIGNATURES
  WEATHERFORD INTERNATIONAL, INC.401(k) SAVINGS PLANDate: June 28, 2007
    
    /s/ Burt M. MartinBurt M. MartinSenior Vice President and General Counselfor Weatherford International, Inc . andWeatherford International Ltd. andAdministrative Committee Member
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INDEX TO EXHIBITS
 ExhibitNumber
    
    Description23.1
    
    Consent of Independent Registered Public Accounting Firm
 14