Baker Hughes Announces April 2004 Rig Counts

International Rig Count Up 4% From March 2004; Up 8% From One Year Ago;

Worldwide Rig Count Down 11% From March 2004; Up 12% From One Year Ago

HOUSTON, May 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; PCX; EBS) announced today that the international rig count for April 2004 was 832, up 33 from the 799 counted in March 2004, and up 62 from the 770 counted in April 2003. The international offshore rig count for April 2004 was 260, up 24 from the 236 counted in March 2004, and up 30 from the 230 counted in April 2003.

The US rig count for April 2004 was 1,151, up 15 from the 1,136 counted in March 2004 and up 168 from the 983 counted in April 2003. The Canadian rig count for April 2004 was 153, down 309 from the 462 counted in March 2004 and up two from the 151 counted in April 2003.

The worldwide rig count for April 2004 was 2,136 down 261 from the 2,397 counted in March 2004 and up 232 from the 1,904 counted in April 2003.

     April 2004 Rotary Rig Counts
                       April 2004             March 2004       April 2003
                    ---------------         --------------   ---------------
                      Land  OS  Total   Var.  Land  OS  Total  Land  OS  Total
     -------------------------------------------------------------------------
       Europe           30   50    80     1     31   48    79    33   50    83
       Middle East     194   32   226     8    186   32   218   176   31   207
       Africa           32   14    46     5     30   11    41    39   21    60
       Latin America   213   72   285     7    210   68   278   187   51   238
       Asia Pacific    103   92   195    12    106   77   183   105   77   182
     International     572  260   832    33    563  236   799   540  230   770
       United States 1,058   93 1,151    15  1,042   94 1,136   878  105   983
       Canada          149    4   153  (309)   458    4   462   149    2   151
     North America   1,207   97 1,304  (294) 1,500   98 1,598 1,027  107 1,134
     -------------------------------------------------------------------------
     Worldwide       1,779  357 2,136  (261) 2,063  334 2,397 1,567  337 1,904
     =========================================================================


     April 2004 Workover Rig Counts

                         April 2004     Var.    March 2004   April 2003
     -------------------------------------------------------------------------
      United States         1,228       (10)         1,238       1,145
      Canada                  194      (255)           449         123
     -------------------------------------------------------------------------
     North America           1,422      (265)         1,687       1,268
     =========================================================================

    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. In 1987, 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 website 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

     Contact:
     Gary R. Flaharty (713) 439-8039
SOURCE  Baker Hughes Incorporated
    -0-                             05/07/2004
    /CONTACT:  Gary R. Flaharty of Baker Hughes Incorporated, +1-713-439-8039/
    /Web site:  http://www.bakerhughes.com
                http://www.bakerhughes.com/investor/rig /
    (BHI)

CO:  Baker Hughes Incorporated
ST:  Texas
IN:  OIL
SU:

AH-CJ 
-- DAF006 --
8743 05/07/2004 01:00 EDT http://www.prnewswire.com