Baker Hughes Announces November 2001 Rig Counts

HOUSTON, Dec 7, 2001 (BUSINESS WIRE) --

International Rig Count Down 1% From October 2001; Up 6% From 1 Year Ago; Worldwide Rig Count Down 7% From October 2001; Down 6% From 1 Year Ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for November 2001 was 741, down 9 from the 750 counted in October 2001 and up 41 from the 700 counted in November 2000. The international offshore rig count for November 2001 was 220 down 10 from the 230 counted in October 2001 and up 24 from the 196 counted in November 2000.

The U.S. rig count for November 2001 was 1,000 down 111 from the 1,111 counted in October 2001 and down 67 from the 1,067 counted in November 2000. The Canadian rig count for November 2001 was 266 down 38 from the 304 counted in October 2001 and down 96 from the 362 counted in November 2000.

The worldwide rig count for November 2001 was 2,007 down 158 from the 2,165 counted in October 2001 and down 122 from the 2,129 counted in November 2000.

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, 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 provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

NOT INTENDED FOR BENEFICIAL HOLDERS

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 URL: http://www.businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page.