Baker Hughes Announces January 2008 Rig Counts

HOUSTON, Feb. 7 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for January 2008 was 1,053, up 17 from the 1,036 counted in December 2007, and up 81 from the 972 counted in January 2007. The international offshore rig count for January 2008 was 291, unchanged from the 291 counted in December 2007 and up 15 from the 276 counted in January 2007.

The international rig count for January 2008 reflects a 16 rig increase in Europe. Included in the European rig count is a 17 rig increase in Romania compared to December 2007. The increase in Romania is attributable to improved visibility and coverage of rig activity in the country as well as higher levels of overall activity.

The US rig count for January 2008 was 1,749, down 62 from the 1,811 counted in December 2007 and up 35 from the 1,714 counted in January 2007. The Canadian rig count for January 2008 was 494, up 134 from the 360 counted in December 2007 and down 74 from the 568 counted in January 2007.

The worldwide rig count for January 2008 was 3,296, up 89 from the 3,207 counted in December 2007 and up 42 from the 3,254 counted in January 2007.




    January 2008 Rotary Rig Counts

                     January 2008             December 2007     January 2007
                    Land  OS  Total   Var.   Land  OS  Total   Land  OS  Total
    --------------------------------------------------------------------------

      Europe         48   45    93     16      31   46    77     26   48    74
      Middle East   241   34   275      1     235   39   274    235   28   263
      Africa         52   16    68     (6)     58   16    74     52   17    69
      Latin
       America      291   74   365     (5)    294   76   370    265   70   335
      Asia Pacific  130  122   252     11     127  114   241    118  113   231
                    ---  ---   ---            ---  ---   ---    ---  ---   ---
    International   762  291  1053     17     745  291  1036    696  276   972

      United
       States      1690   59  1749    (62)   1749   62  1811   1630   84  1714
      Canada        492    2   494    134     358    2   360    564    4   568
                    ---  ---   ---            ---  ---   ---    ---  ---   ---
    North America  2182   61  2243     72    2107   64  2171   2194   88  2282
    --------------------------------------------------------------------------
    Worldwide      2944  352  3296     89    2852  355  3207   2890  364  3254



    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

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