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                                                                    EXHIBIT 99.1



                         WEATHERFORD CLOSES DAILEY DEAL


HOUSTON, Aug. 31, 1999 -- Weatherford International, Inc. (NYSE: WFT) today
announced that it has completed its acquisition of Dailey International, Inc.

Under the terms of the acquisition, Weatherford will issue a total of
approximately 4,267,640 shares of Common Stock to the Dailey noteholders and
stockholders. Of the total number shares issued, Weatherford will issue
approximately 3,985,900 shares to the Dailey noteholders and approximately
281,740 shares to the Dailey common stockholders. The total number of
Weatherford shares issued was based upon a market value of $35.49375 per
Weatherford share. In addition, Weatherford, which held approximately 24 percent
of the outstanding Dailey notes, will receive approximately 1,226,285 shares of
its own common stock to be retained as treasury shares.

Dailey International 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.

Houston-based Weatherford International, Inc. is one of the largest global
providers of engineered products and services to the drilling and production
sectors of the oil and gas industry.

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Contact:
Don Galletly   (713) 693-4148