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Baker Hughes Announces December 2008 Rig Counts

Posted on: Thursday, 8 January 2009, 15:44 CST

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

Source: PR Newswire

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