Baker Hughes Announces Suspension of the Well Count

HOUSTON, April 9, 2015 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that effective immediately it has suspended the quarterly publication of the U.S. onshore well count. In response to the recent market downturn and internal initiatives to reduce costs, the company has prioritized its resources to support the ongoing publication of the weekly North America and monthly International rig counts, which continue to provide a timely and relevant snapshot of evolving market conditions.

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. Baker 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 at 6:00 a.m. ET. Additional detailed information on the Baker Hughes rig counts is available from our website.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 62,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information about Baker Hughes, visit: www.bakerhughes.com.

CONTACTS:   


Media Relations:     

Melanie Kania, + 1.713.439.8303, melanie.kania@bakerhughes.com

Investor Relations:    

Trey Clark, +1.713.439.8039, trey.clark@bakerhughes.com


Alondra Oteyza, +1.713.439.8822, alondra.oteyza@bakerhughes.com

 

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SOURCE Baker Hughes Incorporated