Baker Hughes Announces December 2008 Rig Counts

HOUSTON, Jan. 8 /PRNewswire/ — Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for December 2008 was 1,078, down 18 from the 1,096 counted in November 2008, and up 42 from the 1,036 counted in December 2007. The international offshore rig count for December 2008 was 291, down 6 from the 297 counted in November 2008 and unchanged from the 291 counted in December 2007.

The US rig count for December 2008 was 1,782, down 153 from the 1,935 counted in November 2008 and down 29 from the 1,811 counted in December 2007. The Canadian rig count for December 2008 was 361, down 56 from the 417 counted in November 2008 and up 1 from the 360 counted in December 2007.

The worldwide rig count for December 2008 was 3,221, down 227 from the 3,448 counted in November 2008 and up 14 from the 3,207 counted in December 2007.

     December 2008 Rotary Rig Counts

                      December 2008          November 2008    December 2007
                     Land   OS  Total  Var. Land   OS  Total Land  OS  Total
    ------------------------------------------------------------------------

        Europe         48   53   101    (6)   55   52   107   31   46    77
        Middle East   246   33   279    (1)  244   36   280  235   39   274
        Africa         51   16    67     8    45   14    59   58   16    74
        Latin
         America      312   77   389    (8)  320   77   397  294   76   370
        Asia
         Pacific      130  112   242   (11)  135  118   253  127  114   241
                      ---  ---   ---         ---  ---   ---  ---  ---   ---
     International    787  291  1078   (18)  799  297  1096  745  291  1036

        United
         States      1716   66  1782  (153) 1873   62  1935 1749   62  1811
        Canada        359    2   361   (56)  415    2   417  358    2   360
                      ---    -   ---         ---    -   ---  ---    -   ---
     North America   2075   68  2143  (209) 2288   64  2352 2107   64  2171

    ------------------------------------------------------------------------
     Worldwide       2862  359  3221  (227) 3087  361  3448 2852  355  3207

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