Baker Hughes Announces February 2007 Rig Counts

HOUSTON, March 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for February 2007 was 981, up 9 from the 972 counted in January 2007, and up 96 from the 885 counted in February 2006. The international offshore rig count for February 2007 was 286, up 10 from the 276 counted in January 2007 and up 19 from the 267 counted in February 2006.

The US rig count for February 2007 was 1,736, up 22 from the 1,714 counted in January 2007 and up 203 from the 1,533 counted in February 2006. The Canadian rig count for February 2007 was 635, up 67 from the 568 counted in January 2007 and down 80 from the 715 counted in February 2006.

The worldwide rig count for February 2007 was 3,352, up 98 from the 3,254 counted in January 2007 and up 219 from the 3,133 counted in February 2006.


    February 2007 Rotary Rig Counts

                      February 2007          January 2007       February 2006
                    Land   OS  Total  Var.  Land  OS  Total    Land  OS  Total

------------------------------------------------------------------------------

      Europe          27   47    74     0     26   48    74     29   56    85
      Middle East(1) 223   29   252   (11)   235   28   263    183   29   212
      Africa          52   12    64    (5)    52   17    69     36   13    49
      Latin America  276   84   360    25    265   70   335    248   61   309
      Asia Pacific   117  114   231     0    118  113   231    122  108   230
                     ---  ---   ---    --    ---  ---   ---    ---  ---   ---
    International    695  286   981     9    696  276   972    618  267   885

     United
     States         1651   85  1736    22   1630   84  1714    1454   79  1533
     Canada          633    2   635    67    564    4   568     712    3   715
                    ----   --  ----    --   ----   --  ----    ----   --  ----

North America 2284 87 2371 89 2194 88 2282 2166 82 2248 ------------------------------------------------------------------------------

    Worldwide       2979  373  3352    98   2890  364  3254    2784  349  3133

    (1) Beginning with the January 2006 report, the company has discontinued
        its rig count for Iran and Sudan.  In the third quarter of 2005, our
        independent foreign subsidiaries initiated a process to prohibit any
        business activity that directly or indirectly involves or facilitates
        transactions in Iran, Sudan or with their governments, including
        government-controlled companies operating outside of these countries.


    February 2007 Workover Rig Counts

                       February 2007      Var.   January 2007    February 2006
------------------------------------------------------------------------------
      United States        1480             1        1479             1535
      Canada                826            27         799              821
                           ----            --        ----             ----
    North America          2306            28        2278             2356


    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 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.

NOT INTENDED FOR BENEFICIAL HOLDERS

Contacts:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE: Baker Hughes Incorporated

CONTACT: Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels,
+1-713-439-8822, both of Baker Hughes Incorporated
Web site: http://www.bakerhughes.com