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                                                                    EXHIBIT 99.1

[WEATHERFORD LOGO]                                                  NEWS RELEASE


           WEATHERFORD ANNOUNCES COMPLETION OF GRANT PRIDECO SPIN-OFF

HOUSTON, April 17, 2000 - - Weatherford International, Inc. (NYSE: WFT)
announced that it has completed the spin-off of its formerly wholly owned
subsidiary, Grant Prideco, Inc., the world's largest provider of drill stem
products and a leading provider of engineered connections.

     Weatherford announced on July 21, 1999, its decision to distribute to its
stockholders all of Grant Prideco's common stock. Weatherford's Board of
Directors fixed the close of business on March 23, 2000 as the record date for
the spin-off. The distribution of one share of Grant Prideco common stock for
each outstanding share of Weatherford common stock was completed at the close of
business on April 14, 2000.

     Houston-based Weatherford International, Inc. (HTTP://WWW.WEATHERFORD.COM)
is one of the largest global providers of innovative mechanical solutions,
technology and services for the drilling and production sectors of the oil and
gas industry. Weatherford's four divisions - Drilling and Intervention Services,
Completion Systems, Artificial Lift Systems and Weatherford Global Compression
Services - operate in over 50 countries and employ approximately 10,000 people
worldwide.

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Contact:

Don Galletly  (713) 693-4148