Baker Hughes Announces January 2007 Rig Counts

HOUSTON, Feb 07, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for January 2007 was 972, up 21 from the 951 counted in December 2006, and up 67 from the 905 counted in January 2006. The international offshore rig count for January 2007 was 276, up 5 from the 271 counted in December 2006 and up 13 from the 263 counted in January 2006.

The US rig count for January 2007 was 1,714, down 4 from the 1,718 counted in December 2006 and up 241 from the 1,473 counted in January 2006. The Canadian rig count for January 2007 was 568, up 112 from the 456 counted in December 2006 and down 92 from the 660 counted in January 2006.

The worldwide rig count for January 2007 was 3,254, up 129 from the 3,125 counted in December 2006 and up 216 from the 3,038 counted in January 2006.



     January 2007 Rotary Rig Counts
                     January 2007           December 2006     January 2006
                  Land   OS   Total  Var. Land   OS   Total  Land   OS   Total
    --------------------------------------------------------------------------

     Europe         26   48     74    9     26   39     65     27   54     81
     Middle
      East(1)      235   28    263    8    226   29    255    182   28    210
     Africa         52   17     69    2     47   20     67     38    9     47
     Latin America 265   70    335    6    260   69    329    262   61    323
     Asia Pacific  118  113    231   (4)   121  114    235    133  111    244
                  ----  ---   ----  ---   ----  ---   ----   ----  ---   ----
    International  696  276    972   21    680  271    951    642  263    905

     United
      States      1630   84   1714   (4)  1634   84   1718   1396   77   1473
     Canada        564    4    568  112    452    4    456    656    4    660
                  ----  ---   ----  ---   ----  ---   ----   ----  ---   ----
     North
      America     2194   88   2282  108   2086   88   2174   2052   81   2133
    -------------------------------------------------------------------------
    Worldwide     2890  364   3254  129   2766  359   3125   2694  344   3038

(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.



    January 2007 Workover Rig Counts
                        January 2007      Var.    December 2006   January 2006
      United States          1479           -5         1484           1506
      Canada                  799          376          423            812
                             ----          ---         ----           ----
     North America           2278          371         1907           2318

    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

Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels, +1-713-439-8822, both of Baker Hughes Incorporated

http://www.bakerhughes.com