Baker Hughes Announces November 2008 Rig Counts

HOUSTON, Dec. 5 /PRNewswire-FirstCall/ — Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for November 2008 was 1,096, unchanged from the 1,096 counted in October 2008, and up 104 from the 992 counted in November 2007. The international offshore rig count for November 2008 was 297, up 13 from the 284 counted in October 2008 and up 25 from the 272 counted in November 2007.

The US rig count for November 2008 was 1,935 down 41 from the 1,976 counted in October 2008 and up 137 from the 1,798 counted in November 2007. The Canadian rig count for November 2008 was 417, down 29 from the 446 counted in October 2008 and up 46 from the 371 counted in November 2007.

The worldwide rig count for November 2008 was 3,448, down 70 from the 3,518 counted in October 2008 and up 287 from the 3,161 counted in November 2007.

    November 2008 Rotary Rig Counts

                       November 2008         October 2008     November 2007
                    Land   OS   Total  Var. Land  OS  Total  Land  OS  Total
    ------------------------------------------------------------------------
      Europe          55   52   107     6    53   48   101    34   37     71
      Middle East    244   36   280    (8)  253   35   288   235   30    265
      Africa          45   14    59    (1)   48   12    60    51   18     69
      Latin America  320   77   397    (6)  325   78   403   271   69    340
      Asia Pacific   135  118   253     9   133  111   244   129  118    247
                     ---  ---   ---         ---  ---   ---   ---  ---    ---
     International   799  297  1096     0   812  284  1096   720  272    992

      United States 1873   62  1935   (41) 1903   73  1976  1737   61   1798
      Canada         415    2   417   (29)  444    2   446   369    3    371
                     ---    -   ---         ---    -   ---   ---    -    ---
     North America  2288   64  2352   (70) 2347   75  2422  2106   64   2169
    ------------------------------------------------------------------------
     Worldwide      3087  361  3448   (70) 3159  359  3518  2826  336   3161

About the Baker Hughes Rig Counts

The Baker Hughes Rotary Rig Counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the United States, Canada and international markets. Baker Hughes has issued the rotary rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of US and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975.

North American rig count data is scheduled to be released at noon central time on the last working day of each week. The international rig count is scheduled to be released on the 5th working day of the month. Additional detailed information on the Baker Hughes rig counts is available from our website at http://www.bakerhughes.com/investor/rig.

Baker Hughes provides reservoir consulting, drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

    Contacts:
    Gary R. Flaharty (713) 439-8039
    H. Gene Shiels (713) 439-8822

SOURCE Baker Hughes Incorporated