Baker Hughes Announces March 2008 Rig Counts

HOUSTON, April 7, 2008 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for March 2008 was 1,054, up 22 from the 1,032 counted in February 2008, and up 60 from the 994 counted in March 2007. The international offshore rig count for March 2008 was 285, up 10 from the 275 counted in February 2008 and up 2 from the 283 counted in March 2007.

The US rig count for March 2008 was 1,797, up 32 from the 1,765 counted in February 2008 and up 48 from the 1,749 counted in March 2007. The Canadian rig count for March 2008 was 408, down 212 from the 620 counted in February 2008 and up 16 from the 392 counted in March 2007.

The worldwide rig count for March 2008 was 3,259, down 158 from the 3,417 counted in February 2008 and up 124 from the 3,135 counted in March 2007.

    March 2008 Rotary Rig Counts

                         March 2008           February 2008       March 2007
                       Land  OS Total  Var.   Land  OS Total    Land  OS Total
    --------------------------------------------------------------------------
      Europe            48  52   100    19      46  35    81      28  49    77
      Middle East      238  31   269    (3)    243  29   272     230  30   260
      Africa            52  18    70    12      42  16    58      51  14    65
      Latin America    302  78   380     7     299  74   373     291  74   365
      Asia Pacific     129 106   235   (13)    127 121   248     111 116   227
                       --- ---  ----   ----    --- ---  ----     --- ---   ---
    International      769 285  1054    22     757 275  1032     711 283   994

      United States   1737  60  1797    32    1709  56  1765    1668  81  1749
      Canada           407   1   408  (212)    619   1   620     390   2   392
                      ----  --  ----  -----   ----  --  ----    ----  --  ----
    North America     2144  61  2205  (180)   2328  57  2385    2058  83  2141
    --------------------------------------------------------------------------
    Worldwide         2913 346  3259  (158)   3085 332  3417    2769 366  3135


    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.

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 is 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.

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


SOURCE  Baker Hughes Incorporated
    -0-                             04/07/2008
    /CONTACT:  Gary R. Flaharty, +1-713-439-8039, or H. Gene Shiels,
+1-713-439-8822, both of Baker Hughes Incorporated/
    /Web site:  http://www.bakerhughes.com /
    (BHI)

CO:  Baker Hughes Incorporated
ST:  Texas
IN:  OIL MAR
SU:  SVY

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9881 04/07/2008 06:00 EDT http://www.prnewswire.com