Baker Hughes Announces July 2000 Rig Counts

HOUSTON--(BUSINESS WIRE)--Aug. 7, 2000--

International Rig Count Up 1% from June 2000; Up 14% from 1 year ago

Worldwide Rig Count Up 5% from June 2000; Up 38% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for July 2000 was 662, up 5 from the 657 counted in June 2000 and up 81 from the 581 counted in July 1999. The international offshore rig count for July 2000 was 189, down 3 from the 192 counted in June 2000 and up 6 from the 183 counted in July 1999.

The U.S. rig count for July 2000 was 941 up 63 from the 878 counted in June 2000 and up 354 from the 587 counted in July 1999. The Canadian rig count for July 2000 was 308 up 17 from the 291 counted in June 2000 and up 93 from the 215 counted in July 1999.

The worldwide rig count for July 2000 was 1,911 up 85 from the 1,826 counted in June 2000 and up 528 from the 1,383 counted in July 1999. -0-

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                      July 2000 Rotary Rig Counts

                July 2000                June 2000        July 1999
              -------------          ---------------- ----------------
               Land Off-  Total Vari- Land Off-  Total Land Off- Total
                    Shore       ance       Shore            Shore
--------------------------------------------------------------------
Europe           36   49    85  (5)   35    55    90    39  41    80
Middle East     137   23   160   1   135    24   159   117  24   141
Africa           24   21    45  (1)   24    22    46    24  14    38
Latin America   195   38   233   8   190    35   225   142  37   179
Asia Pacific     81   58   139   2    81    56   137    76  67   143
--------------------------------------------------------------------
International   473  189   662   5   465   192   657   398 183   581
 U.S.           784  157   941  63   739   139   878   487 100   587
 Canada         303    5   308  17   286     5   291   209   6   215
North America 1,087  162 1,249  80 1,025   144 1,169   696 106   802
--------------------------------------------------------------------
Worldwide     1,560  351 1,911  85 1,490   336 1,826 1,094 289 1,383

                     July 2000 Workover Rig Counts

                    July 2000               June 2000  July 1999
----------------------------------------------------------------------
U.S.                 1,014          (34)       1,048      797
Canada                 302           (4)         306      237
----------------------------------------------------------------------
North America        1,316          (38)       1,354    1,034

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    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 U.S. 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 Web site at http://www.bakerhughes.com/investor/rig .

Baker Hughes is a leading supplier of reservoir-centered products, services and systems to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS

CONTACT: Baker Hughes, Houston

             Gary R. Flaharty, 713/439-8039
             gary.flaharty@bakerhughes.com
             www.bakerhughes.com