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                                                                    Exhibit 99.1

                         [NATIONAL-OILWELL LETTERHEAD]

NEWS

                                                         CONTACT:  STEVE KRABLIN
                                                                  (713) 960-5506

FOR IMMEDIATE RELEASE

                NATIONAL-OILWELL AND DRECO COMBINATION COMPLETED

HOUSTON, TX, SEPTEMBER 25, 1997 -- National-Oilwell, Inc. (NOI/NYSE) announced
today it completed its previously announced combination with Dreco Energy
Services Ltd.

In addition, the Company announced that it has entered into a new $125 million
credit facility with a group of banks led by Chase Securities Inc. as Arranger
and Texas Commerce Bank, N.A. as Agent.

The combined company is a worldwide leader in the design, manufacture and sale
of machinery, equipment and downhole tools used in oil and gas drilling and
production, as well as in the distribution to the oil and gas industry of
maintenance, repair and operating products.

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