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                                                                    Exhibit 99.2



              DAILEY INTERNATIONAL INC. ANNOUNCES EFFECTIVENESS OF
               PLAN OF REORGANIZATION AND CLOSING OF ACQUISITION
                       BY WEATHERFORD INTERNATIONAL, INC.


         CONROE, TEXAS, August 31, 1999 - Dailey International Inc. today
announced the closing of its acquisition by Weatherford International, Inc.
(NYSE:WFT) under the terms of its previously-announced acquisition agreement
with Weatherford.  In addition, it announced that the Second Amended Joint Plan
of Reorganization of Dailey and certain of its subsidiaries, as confirmed by
order of the United States Bankruptcy Court for the District of Delaware
entered on August 20, 1999, became effective today.

         Under the Plan and the acquisition agreement, on the effective date,
(i) all of the outstanding Dailey Senior Notes were canceled, and the holders
thereof will be entitled to receive in exchange shares of common stock of
Weatherford having an aggregate market value (as provided in the Plan) of $185
million, at a rate of 18.9534 shares of Weatherford common stock per $1,000
principal amount of Senior Notes, and (ii) all of the issued and outstanding
shares of Class A and Class B common stock of Dailey were canceled and the
holders thereof will be entitled to receive in exchange shares of Weatherford
common stock having an aggregate market value (as provided in the Plan) of $10
million, at a rate of 0.02795 shares of Weatherford common stock per share of
Dailey common stock.  It is anticipated that instruments for the exchange of
Dailey Senior Note and common stock certificates will be mailed to holders
later this week.

         Dailey International Inc. is a leading provider of specialty drilling
equipment and services to the oil and gas industry and designs, manufactures
and rents proprietary downhole tools for oil and gas drilling and workover
applications worldwide.  Weatherford International, Inc. is one of the world's
largest providers of equipment and services used for the exploration and
production of oil and natural gas.

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Contact:

Don Galletly     (713) 693-4148
Jean Davenport   (409) 760-3399




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