Baker Hughes Announces November 2005 Rig Counts

International Rig Count Up 4% From October 2005; Up 7% From One Year Ago; Worldwide Rig Count Up 3% From October 2005; Up 17% From One Year Ago

HOUSTON, Dec 07, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for November 2005 was 935, up 32 from the 903 counted in October 2005, and up 59 from the 876 counted in November 2004. The international offshore rig count for November 2005 was 267, up three from the 264 counted in October 2005 and up eight from the 259 counted in November 2004.

The US rig count for November 2005 was 1,486 up seven from the 1,479 counted in October 2005 and up 224 from the 1,262 counted in November 2004. The Canadian rig count for November 2005 was 600, up 59 from the 541 counted in October 2005 and up 153 from the 447 counted in November 2004.

The worldwide rig count for November 2005 was 3,021 up 98 from the 2,923 counted in October 2005 and up 436 from the 2,585 counted in November 2004.

Baker Hughes also reported a correction in the number of oil and gas rigs reported for Argentina in the October 2005 Oil and Gas breakout. The October 2005 oil and gas breakout for Argentina should have been 65 oil rigs and 9 gas rigs, instead of the 35 oil and 39 gas rigs reported. There was no change in the number of land and offshore rigs reported for Argentina. The total number of rigs operating in Argentina and internationally were reported correctly.

November 2005 Rotary Rig Counts

                       November 2005          October 2005     November 2004
                      Land  OS  Total  Var.  Land  OS  Total  Land  OS  Total
    -------------------------------------------------------------------------
      Europe           25   50    75    5     23   47    70    28   41    69
      Middle East     221   35   256   -3    223   36   259   204   35   239
      Africa           38   11    49    3     34   12    46    35   14    49
      Latin America   253   65   318   23    235   60   295   246   71   317
      Asia Pacific    131  106   237    4    124  109   233   104   98   202
                     ---- ----  ---- ----   ---- ----  ----  ---- ----  ----
    International     668  267   935   32    639  264   903   617  259   876

      United States  1402   84  1486    7   1392   87  1479  1162  100  1262
      Canada          596    4   600   59    536    5   541   444    3   447
                     ---- ----  ---- ----   ---- ----  ----  ---- ----  ----
    North America    1998   88  2086   66   1928   92  2020  1606  103  1709
    -------------------------------------------------------------------------
    Worldwide        2666  355  3021   98   2567  356  2923  2223  362  2585


    October 2005 Workover Rig Counts

                      November 2005     Var.     October 05     November 2004
    -------------------------------------------------------------------------
      United States        1446          15         1431             1278
      Canada                790          40          750              737
                           ----        ----         ----             ----
    North America          2236          55         2181             2015



   

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