Baker Hughes Announces June 2000 Rig Counts

HOUSTON--(BUSINESS WIRE)--July 10, 2000--

International Rig Count Up 5% from May 2000; Up 9% from 1 year ago

Worldwide Rig Count Up 10% from May 2000; Up 36% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for June 2000 was 657, up 30 from the 627 counted in May 2000 and up 55 from the 602 counted in June 1999. The international offshore rig count for June 2000 was 192, up 26 from the 166 counted in May 2000 and down 8 from the 200 counted in June 1999.

The US rig count for June 2000 was 878 up 34 from the 844 counted in May 2000 and up 320 from the 558 counted in June 1999. The Canadian rig count for June 2000 was 291 up 102 from the 189 counted in May 2000 and up 104 from the 187 counted in June 1999.

The worldwide rig count for June 2000 was 1826 up 166 from the 1660 counted in May 2000 and up 479 from the 1347 counted in June 1999. -0-

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                    June 2000 Rotary Rig Counts

                June 2000                May 2000         June 1999
              -------------          ---------------- ----------------
               Land Off-  Total Vari- Land Off-  Total Land Off- Total
                    Shore       ance       Shore            Shore
--------------------------------------------------------------------
Europe           35   55    90  14    38    38    76    45  49    94
Middle East     135   24   159   3   135    21   156   117  20   137
Africa           24   22    46   -    25    21    46    24  16    40
Latin America   190   35   225  10   182    33   215   143  44   187
Asia Pacific     81   56   137   3    81    53   134    73  71   144
--------------------------------------------------------------------
International   465  192   657  30   461   166   627   402 200   602
 U.S.           739  139   878  34   706   138   844   458 100   558
 Canada         286    5   291 102   185     4   189   181   6   187
--------------------------------------------------------------------
North America 1,025  144 1,169 136   891   142 1,033   639 106   745
Worldwide     1,490  336 1,826 166 1,352   308 1,660 1,041 306 1,347

                    June 2000 Workover Rig Counts

                     June 2000    Variance   May 2000   June 1999
----------------------------------------------------------------------
U.S.                 1,048          (58)       1,106      795
Canada                 306           27          279      213
----------------------------------------------------------------------
North America        1,354          (31)       1,385    1,008

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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 US and Canadian drilling activity. Hughes initiated the monthly international rig count in the 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 Incorporated, Houston

Gary R. Flaharty, 713/439-8039

gary.flaharty@bakerhughes.com