This is the best thermal paste I have ever used. (Hydronaut) It is specially designed for water cooler. It's just the right consistency - NOT runny at all, stays where you apply, pliable enough to spread as much as you like. It comes with a small flat tip designed to fit over the tip of the tubing, but I've used it as a hand held dilator and it worked perfectly. You could probably just place a small blob in the center of the CPU and spread it out with pressure, but I wanted to know that the entire heat spreader was covered. or water cooler. It might be more expensive, but it's easy to see why when you actually use it. Really worth it for the less hassle of trying to install a cooler.
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