Baker Hughes Announces March 2001 Rig Counts

HOUSTON--(BUSINESS WIRE)--April 6, 2001--

          International Rig Count Down 1% from February 2001;
         Up 19% from 1 year ago; Worldwide Rig Count Down 4%
              from February 2001; Up 32% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for March 2001 was 722, down 10 from the 732 counted in February 2001 and up 116 from the 606 counted in March 2000. The international offshore rig count for March 2001 was 207, unchanged from the 207 counted in February 2001 and up 34 from the 173 counted in March 2000.

The US rig count for March 2001 was 1,164 up 28 from the 1,136 counted in February 2001 and up 394 from the 770 counted in March 2000. The Canadian rig count for March 2001 was 445 down 117 from the 562 counted in February 2001 and up 51 from the 394 counted in March 2000.

The worldwide rig count for March 2001 was 2,331 down 99 from the 2,430 counted in February 2001 and up 561 from the 1,770 counted in March 2000.

March 2001 Rotary Rig Counts

                  March 2001           February 2001      March 2000
               ---------------        ---------------   --------------
               Land  OS  Total  Var   Land  OS  Total   Land  OS Total
----------------------------------------------------------------------
 Europe         41   49    90    0     34   56    90     36   46    82
 Middle East   142   22   164  (10)   149   25   174    130   19   149
 Africa         29   23    52    0     31   21    52     27   18    45
 Latin America 212   55   267    3    215   49   264    165   34   199
 Asia Pacific   91   58   149   (3)    96   56   152     75   56   131
International  515  207   722  (10)   525  207   732    433  173   606
 US            997  167 1,164   28    973  163 1,136    647  123   770
 Canada        440    5   445 (117)   556    6   562    389    5   394
N. America   1,437  172 1,609  (89) 1,529  169 1,698  1,036  128 1,164
----------------------------------------------------------------------
Worldwide    1,952  379 2,331  (99) 2,054  376 2,430  1,469  301 1,770
======================================================================


March 2001 Workover Rig Counts

                    March 2001   Var.   February 2001       March 2000
----------------------------------------------------------------------
  US                    1,193    (15)       1,208               992
  Canada                  413     (2)         415               412
----------------------------------------------------------------------
North America           1,606    (17)       1,623             1,404
======================================================================

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

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