Baker Hughes Announces June 2001 Rig Counts

HOUSTON--(BUSINESS WIRE)--July 9, 2001--

International Rig Count up 1% from May 2001; Up 16% from 1 year ago

Worldwide Rig Count up 5% from May 2001; Up 28% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for June 2001 was 760, up 8 from the 752 counted in May 2001 and up 103 from the 657 counted in June 2000. The international offshore rig count for June 2001 was 232 up 2 from the 230 counted in May 2001 and up 40 from the 192 counted in June 2000.

The US rig count for June 2001 was 1,271 up 37 from the 1,234 counted in May 2001 and up 393 from the 878 counted in June 2000. The Canadian rig count for June 2001 was 302 up 64 from the 238 counted in May 2001 and up 11 from the 291 counted in June 2000.

The worldwide rig count for June 2001 was 2,333 up 109 from the 2,224 counted in May 2001 and up 507 from the 1,826 counted in June 2000.

June 2001 Rotary Rig Counts

                    June 2001             May 2001        June 2000
                 --------------       ---------------   --------------
                 Land OS  Total  Var  Land  OS  Total   Land OS  Total
----------------------------------------------------------------------
 Europe           34  65    99   1     37   61    98     35  55    90
 Middle East     149  30   179   5    145   29   174    135  24   159
 Africa           33  24    57   2     31   24    55     24  22    46
 Latin America   216  49   265  (3)   219   49   268    190  35   225
 Asia Pacific     96  64   160   3     90   67   157     81  56   137
International    528 232   760   8    522  230   752    465 192   657
 US            1,108 163 1,271  37  1,064  170 1,234    739 139   878
 Canada          300   2   302  64    235    3   238    286   5   291
N. America     1,408 165 1,573 101  1,299  173 1,472  1,025 144 1,169
----------------------------------------------------------------------
Worldwide      1,936 397 2,333 109  1,821  403 2,224  1,490 336 1,826
======================================================================

June 2001 Workover Rig Counts

                      June 2001    Var.    May 2001        June 2000
----------------------------------------------------------------------
  US                    1,197     -70       1,267             1,048
  Canada                  311      21         290               306
----------------------------------------------------------------------
North America           1,508     -49       1,557             1,354
======================================================================

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 Web site 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--EB/ho*

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