Baker Hughes Announces March 2005 Rig Counts

International Rig Count Up 2% From February 2005; Up 12% From One Year Ago Worldwide Rig Count Down 5% From February 2005; Up 9% From One Year Ago

HOUSTON, April 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for March 2005 was 891, up 15 from the 876 counted in February 2005, and up 92 from the 799 counted in March 2004. The international offshore rig count for March 2005 was 254, up 1 from the 253 counted in February 2005 and up 18 from the 236 counted in March 2004.

The US rig count for March 2005 was 1,306, up 30 from the 1,276 counted in February 2005 and up 170 from the 1,136 counted in March 2004. The Canadian rig count for March 2005 was 420, down 173 from the 593 counted in February 2005 and down 42 from the 462 counted in March 2004.

The worldwide rig count for March 2005 was 2,617, down 128 from the 2,745 counted in February 2005 and up 220 from the 2,397 counted in March 2004.

March 2005 Rotary Rig Counts

                        March 2005            February 2005      March 2004
                      ---------------        ---------------   ---------------
                      Land  OS  Total  Var.  Land  OS  Total   Land  OS  Total
    --------------------------------------------------------------------------
        Europe         25   46    71   17     24   30    54     31   48    79
        Middle East   213   33   246   14    204   28   232    186   32   218
        Africa         37   14    51   -2     36   17    53     30   11    41
        Latin America 256   58   314   -3    249   68   317    210   68   278
        Asia Pacific  106  103   209  -11    110  110   220    106   77   183
    International     637  254   891   15    623  253   876    563  236   799
        United
         States     1,210   96 1,306   30  1,172  104 1,276  1,042   94 1,136
        Canada        418    2   420 -173    590    3   593    458    4   462
    North America   1,628   98 1,726 -143  1,762  107 1,869  1,500   98 1,598
    --------------------------------------------------------------------------
    Worldwide       2,265  352 2,617 -128  2,385  360 2,745  2,063  334 2,397
    ==========================================================================


     March 2005 Workover Rig Counts

                          March 2005  Var.  February 2005  March 2004
    --------------------------------------------------------------------------
      United States         1,259      -2       1,261         1,238
      Canada                  718    -102         820           449
    --------------------------------------------------------------------------
    North America           1,977    -104       2,081         1,687
    ==========================================================================

    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, 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 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.

NOT INTENDED FOR BENEFICIAL HOLDERS

Contacts:
Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE Baker Hughes Incorporated