Baker Hughes Announces January 2001 Rig Counts

HOUSTON--(BUSINESS WIRE)--Feb. 7, 2001--

           International Rig Count Up 2% from December 2000;
                        Up 28% from 1 year ago

            Worldwide Rig Count Up 7% from December 2000;
                        Up 29% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI) (PCX:BHI) (EBS:BHI) announced today that the international rig count for January 2001 was 717, up 12 from the 705 counted in December 2000 and up 157 from the 560 counted in January 2000. The international offshore rig count for January 2001 was 206, up 5 from the 201 counted in December 2000 and up 57 from the 149 counted in January 2000.

The US rig count for January 2001 was 1,118 up 21 from the 1,097 counted in December 2000 and up 343 from the 775 counted in January 2000. The Canadian rig count for January 2001 was 539 up 129 from the 410 counted in December 2000 and up 37 from the 502 counted in January 2000.

The worldwide rig count for January 2001 was 2,374 up 162 from the 2,212 counted in December 2000 and up 537 from the 1,837 counted in January 2000.

January 2001 Rotary Rig Counts

                  January 2001           December 2000   January 2000
                 --------------          -------------  --------------
                 Land  OS Total   Var   Land  OS Total  Land  OS Total
----------------------------------------------------------------------
  Europe          34   53    87   (2)    37   52    89    32  33    65
  Middle East    150   30   180   16    142   22   164   123  17   140
  Africa          29   23    52    3     27   22    49    28  11    39
  Latin America  208   45   253   (4)   207   50   257   150  36   186
  Asia Pacific    90   55   145   (1)    91   55   146    78  52   130
International    511  206   717   12    504  201   705   411 149   560
  US             945  173 1,118   21    950  147 1,097   649 126   775
  Canada         533    6   539  129    405    5   410   497   5   502
N. America     1,478  179 1,657  150  1,355  152 1,507 1,146 131 1,277
----------------------------------------------------------------------
Worldwide      1,989  385 2,374  162  1,859  353 2,212 1,557 280 1,837
======================================================================


January 2001 Workover Rig Counts

                    January 2001    Var.  December 2000   January 2000
----------------------------------------------------------------------
  US                    1,173        57      1,116                 971
  Canada                  411        20        391                 398
----------------------------------------------------------------------
North America           1,584        77     1,507                1,369
======================================================================

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 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 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

--30--SL/na*

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