EXHIBIT 99.2

[WEATHERFORD LOGO]                                                [NEWS RELEASE]



                    WEATHERFORD CLOSES ACQUISITION OF CIDRA'S
                      OPTICAL SENSING SYSTEMS BUSINESS UNIT


HOUSTON, Nov. 16, 2001 -- Weatherford International, Inc. (NYSE: WFT) today
announced that it has completed its acquisition of CiDRA's Optical Sensing
Systems (OSS) Business Unit.

CiDRA OSS is successfully commercializing a suite of permanent downhole fiber
optic sensor systems. The technologies consist of pressure temperature sensors,
flow and phase fraction systems, as well as an all-fiber in-well seismic system.
CiDRA's systems provide critical downhole intelligence and complement
Weatherford's existing completion capabilities, which include advanced
completion and field automation products and systems.

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 operates in over 100 countries and employs
approximately 13,000 people worldwide.

                                      # # #

Contact:
Don Galletly (713) 693-4148

This press release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 concerning, among other
things, Weatherford's prospects for its operations and the integration of recent
acquisitions, all of which are subject to certain risks, uncertainties and
assumptions. These risks and uncertainties, which are more fully described in
Weatherford International, Inc.'s Annual, Quarterly and Current Reports filed
with the Securities and Exchange Commission, include the impact of oil and
natural gas prices and worldwide economic conditions on drilling activity and
the demand for and pricing of Weatherford's products. Should one or more of
these risks or uncertainties materialize, or should the assumptions prove
incorrect, actual results may vary in material aspects from those currently
anticipated.