Baker Hughes Announces May 2000 Rig Counts

HOUSTON--(BUSINESS WIRE)--June 7, 2000--

International Rig Count Up 4% from May 2000; Up 6% from 1 year ago

Worldwide Rig Count Up 7% from May 2000; Up 41% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI), announced today that the international rig count for May 2000 was 627, up 25 from the 602 counted in April 2000 and up 36 from the 591 counted in May 1999. The international offshore rig count for May 2000 was 166, down 2 from the 168 counted in April 2000 and down 19 from the 185 counted in May 1999.

The US rig count for May 2000 was 844, up 39 from the 805 counted in April 2000 and up 328 from the 516 counted in May 1999. The Canadian rig count for May 2000 was 193, up 42 from the 151 counted in April 2000 and up 123 from the 70 counted in May 1999.

The worldwide rig count for May 2000 was 1664, up 106 from April 2000 and up 487 from the 1177 counted in May 1999. -0-

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May 2000 Rotary Rig Counts

                     May-00    Variance    Apr-00          May-99
               -------------------------------------------------------
               Land  Off-  Total      Land  Off- Total Land Off- Total
                     shore                 shore            shore
               -------------------------------------------------------
Europe           38   38    76   (3)    37   42    79   43   39     82
Middle East     135   21   156    3    126   27   153  120   20    140
Africa           25   21    46    4     25   17    42   26   11     37
Latin America   182   33   215   16    167   32   199  146   44    190
Asia Pacific     81   53   134    5     79   50   129   71   71    142
----------------------------------------------------------------------
International   461  166   627   25    434  168   602  406  185    591
   U.S.         706  138   844   39    681  124   805  414  102    516
   Canada       189    4   193   42    147    4   151   64    6     70
----------------------------------------------------------------------
North America   895  142 1,037   81    828  128   956  478  108    586
----------------------------------------------------------------------
Worldwide     1,356  308 1,664  106  1,262  296 1,558  884  293  1,177
======================================================================

May 2000 Workover Rig Counts

                  May-00     Variance       Apr-00        May-99
                 -----------------------------------------------------
U.S.              1,106         36          1,070           775
Canada              279         35            244           150
----------------------------------------------------------------------
North America     1,385         71          1,314           925

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   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 website at http://www.bakerhughes.com/investor/rig .

Baker Hughes is a leading supplier of reservoir-centered products, services and systems to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS

CONTACT: Baker Hughes, Houston

Gary R. Flaharty, 713/439-8039

gary.flaharty@bakerhughes.com