Baker Hughes Announces December 2007 Rig Counts

HOUSTON, Jan 08, 2008 /PRNewswire via COMTEX News Network/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for December 2007 was 1,036, up 44 from the 992 counted in November 2007, and up 85 from the 951 counted in December 2006. The international offshore rig count for December 2007 was 291, up 19 from the 272 counted in November 2007 and up 1 from the 271 counted in December 2006.

The international rig count for December 2007 reflects a 30 rig increase in Latin America, primarily due to recovery from weather delays in Mexico, the end of strikes in Argentina, and the addition of four offshore rigs in Brazil.

The US rig count for December 2007 was 1811, up 13 from the 1798 counted in November 2007 and up 93 from the 1718 counted in December 2006. The Canadian rig count for December 2007 was 360, down 11 from the 371 counted in November 2007 and down 96 from the 456 counted in December 2006.

The worldwide rig count for December 2007 was 3207, up 46 from the 3161 counted in November 2007 and up 82 from the 3125 counted in December 2006.

    December 2007 Rotary Rig Counts


                     December 2007         November 2007       December 2006
                Land   OS  Total  Var.   Land   OS   Total    Land   OS  Total

    Europe          31   46    77    6     34   37     71      26    39   65
    Middle East    235   39   274    9    235   30    265     226    29   255
    Africa          58   16    74    5     51   18     69      47    20    67
    Latin America  294   76   370   30    271   69    340     260    69   329
    Asia Pacific   127  114   241   (6)   129  118    247     121   114   235

    International  745  291  1036   44    720  272    992     680   271   951

    United States 1749   62  1811   13   1737   61   1798    1634    84  1718
    Canada         358    2   360  (11)   369    3    371     452     4   456
    North America 2107   64  2171    2   2106   64   2169    2086    88  2174


    Worldwide     2852  355  3207   46   2826  336   3161    2766   359  3125



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 is a leading provider of 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

http://www.bakerhughes.com/