Baker Hughes Announces November 2000 Rig Counts

HOUSTON--(BUSINESS WIRE)--Dec. 7, 2000--

International Rig Count Down 4% from October 2000; Up 22% from 1

Year Ago; Worldwide Rig Count Down 0.3% from October 2000;

Up 26% from 1 Year Ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for November 2000 was 700, down 27 from the 727 counted in October 2000 and up 125 from the 575 counted in November 1999. The international offshore rig count for November 2000 was 196, down 23 from the 219 counted in October 2000 and up 38 from the 158 counted in November 1999.

The U.S. rig count for November 2000 was 1,067, up 12 from the 1,055 counted in October 2000, and up 285 from the 782 counted in November 1999. The Canadian rig count for November 2000 was 362, up 9 from the 353 counted in October 2000 and up 26 from the 336 counted in November 1999.

The worldwide rig count for November 2000 was 2,129, down 6 from the 2,135 counted in October 2000 and up 436 from the 1,693 counted in November 1999.

                    November 2000 Rotary Rig Counts

               November 2000           October 2000     November 1999
               -------------           ------------     -------------
              Land   OS Total  Var   Land   OS Total   Land   OS Total
----------------------------------------------------------------------
 Europe         36   44    80  (16)    39   57    96     41   36    77
 Middle East   144   21   165    3    143   19   162    116   20   136
 Africa         25   24    49   (1)    25   25    50     23   13    36
 Latin America 208   49   257   (8)   210   55   265    164   35   199
 Asia Pacific   91   58   149   (5)    91   63   154     73   54   127
International  504  196   700  (27)   508  219   727    417  158   575
 U.S.          916  151 1,067   12    908  147 1,055    663  119   782
 Canada        357    5   362    9    348    5   353    331    5   336
N. America   1,273  156 1,429   21  1,256  152 1,408    994  124 1,118
----------------------------------------------------------------------
Worldwide    1,777  352 2,129   (6) 1,764  371 2,135  1,411  282 1,693
======================================================================


                   November 2000 Workover Rig Counts

                   November 2000   Var.   October 2000   November 1999
----------------------------------------------------------------------
 US                    1,159        72        1,087          1,002
 Canada                  346        (8)         354            305
----------------------------------------------------------------------
North America          1,505        64        1,441          1,307
======================================================================

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 U.S. 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 supplier of reservoir-centered products, services and systems to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS

--30--BMD/ho*

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