Baker Hughes Announces March 2006 Rig Counts

HOUSTON, April 7, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for March 2006 was 898, up 13 from the 885 counted in February 2006, and up seven from the 891 counted in March 2005. The international offshore rig count for March 2006 was 274, up seven from the 267 counted in February 2006 and up 20 from the 254 counted in March 2005.

(a) Excluding Iran and Sudan, the international rig count for March 2006 was 898, up 13 from the 885 counted in February 2006, and up 68 from the 830 counted in March 2005. The international offshore rig count for March 2006 was 274, up seven from the 267 counted in February 2006 and up 29 from the 245 counted in March 2005.

The US rig count for March 2006 was 1,551 up 18 from the 1,533 counted in February 2006 and up 245 from the 1,306 counted in March 2005. The Canadian rig count for March 2006 was 620, down 95 from the 715 counted in February 2006 and up 200 from the 420 counted in March 2005.

The worldwide rig count for March 2006 was 3,069, down 64 from the 3,133 counted in February 2006 and up 452 from the 2,617 counted in March 2005. (a) Excluding Iran and Sudan, the worldwide rig count for March 2006 was 3,069 down 64 from the 3,133 counted in February 2006 and up 513 from the 2,556 counted in March 2005.

March 2006 Rotary Rig Counts

                         March 2006           February 2006      March 2005
                      Land  OS  Total Var.   Land  OS  Total   Land  OS Total
    -------------------------------------------------------------------------
      Europe           25   55    80   -5     29   56    85     25   46    71
      Middle East     191   30   221    9    183   29   212    213   33   246
      Africa           38   20    58    9     36   13    49     37   14    51
      Latin America   250   56   306   -3    248   61   309    256   58   314
      Asia Pacific    120  113   233    3    122  108   230    106  103   209
                      ---  ---   ---  ---    ---  ---   ---    ---  ---   ---
    International     624  274   898   13    618  267   885    637  254   891

      United States  1463   88  1551   18   1454   79  1533   1210   96  1306
      Canada          617    3   620  -95    712    3   715    418    2   420
                      ---  ---   ---  ---    ---  ---   ---    ---  ---   ---
    North America    2080   91  2171  -77   2166   82  2248   1628   98  1726
    -------------------------------------------------------------------------
    Worldwide        2704  349  3069  -64   2784  349  3133   2265  352  2617

(a) Beginning with the January 2006 report, the company has discontinued its rig count for Iran and Sudan. In the third quarter of 2005, our independent foreign subsidiaries initiated a process to prohibit any business activity that directly or indirectly involves or facilitates transactions in Iran, Sudan or with their governments, including government-controlled companies operating outside of these countries.

(a) March 2006 Totals excluding Iran and Sudan

                       March 2006            February 2006      March 2005
                     Land  OS  Total Var.   Land  OS  Total   Land  OS Total
    ------------------------------------------------------------------------
      Middle East    191   30   221    9    183   29   212    161   24   185
                     ---  ---   ---  ---    ---  ---   ---    ---  ---   ---
    International    624  274   898   13    618  267   885    585  245   830
      US            1463   88  1551   18   1454   79  1533   1210   96  1306
      Canada         617    3   620  -95    712    3   715    418    2   420
                     ---  ---   ---  ---    ---  ---   ---    ---  ---   ---
    ------------------------------------------------------------------------
    Worldwide Total 2704  365  3069  -64   2784  349  3133   2213  343  2556



    

    March 2006 Workover Rig Counts

                             March 2006      Var.   February 2006   March 2005
    -------------------------------------------------------------------------
      United States             1539            4         1535         1259
      Canada                     488         -333          821          718
                                 ---          ---          ---          ---
    North America               2027         -329         2356         1977

   

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

Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels, +1-713-439-8822, both of Baker Hughes Incorporated