Baker Hughes Announces April 2001 Rig Counts

HOUSTON--(BUSINESS WIRE)--May 7, 2001--

            International Rig Count up 3% from March 2001;
          Up 23% from 1 year ago; Worldwide Rig Count Down 7%
                from March 2001; Up 39% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for April 2001 was 742, up 20 from the 722 counted in March 2001 and up 140 from the 602 counted in April 2000. The international offshore rig count for April 2001 was 219, up 12 from the 207 counted in March 2001 and up 51 from the 168 counted in April 2000.

The U.S. rig count for April 2001 was 1,206 up 42 from the 1,164 counted in March 2001 and up 402 from the 804 counted in April 2000. The Canadian rig count for April 2001 was 217 down 228 from the 445 counted in March 2001 and up 71 from the 146 counted in April 2000.

The worldwide rig count for April 2001 was 2,165 down 166 from the 2,331 counted in March 2001 and up 613 from the 1,552 counted in April 2000.

    April 2001 Rotary Rig Counts

                 April 2001             March 2001        April 2000
              ---------------         --------------   ---------------
               Land  OS  Total   Var  Land  OS Total   Land   OS Total
----------------------------------------------------------------------
 Europe          39   50    89   (1)    41  49    90     36   42    78
 Middle East    141   28   169    5    142  22   164    127   27   154
 Africa          32   28    60    8     29  23    52     25   17    42
 Latin America  218   52   270    3    212  55   267    167   32   199
 Asia Pacific    93   61   154    5     91  58   149     79   50   129
International   523  219   742   20    515 207   722    434  168   602
 U.S.         1,037  169 1,206   42    997 167 1,164    680  124   804
 Canada         211    6   217 (228)   440   5   445    142    4   146
N. America    1,248  175 1,423 (186) 1,437 172 1,609    822  128   950
----------------------------------------------------------------------
Worldwide     1,771  394 2,165 (166) 1,952 379 2,331  1,256  296 1,552
======================================================================

    April 2001 Workover Rig Counts

                     April 2001   Var.   March 2001       April 2000
----------------------------------------------------------------------
 U.S.                  1,216      23       1,193             1,070
 Canada                  265    (148)        413               244
----------------------------------------------------------------------
North America          1,481    (125)      1,606             1,314
======================================================================

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 U.S. and Canadian drilling activity. Hughes initiated the monthly international rig count in 1975. In 1987 the Baker Oil Tools began its monthly workover rig count.

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 and North American workover rig counts are scheduled to be released on the 5th working day of the month. Additional detailed information on the Baker Hughes rig counts are available from our Web site at http://www.bakerhughes.com/investor/rig.

Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS

--30--HM/ho*

CONTACT: Baker Hughes Incorporated, Houston
Gary R. Flaharty, 713/439-8039
gary.flaharty@bakerhughes.com
or
Kyle J. Leak, 713/439-8042
kyle.leak@bakerhughes.com