Baker Hughes Announces November 2006 Rig Counts

HOUSTON, Dec. 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for November 2006 was 939, down 26 from the 965 counted in October 2006, and up 4 from the 935 counted in November 2005. The international offshore rig count for November 2006 was 260, down 14 from the 274 counted in October 2006 and down 7 from the 267 counted in November 2005.

(A) Excluding Iran and Sudan, the international rig count for November 2006 was 939, down 26 from the 965 counted in October 2006, and up 61 from the 878 counted in November 2005. The international offshore rig count for November 2006 was 260, down 14 from the 274 counted in October 2006 and down 1 from the 261 counted in November 2005.

The US rig count for November 2006 was 1,706 down 28 from the 1,734 counted in October 2006 and up 220 from the 1,486 counted in November 2005. The Canadian rig count for November 2006 was 432, up 1 from the 431 counted in October 2006 and down 168 from the 600 counted in November 2005.

The worldwide rig count for November 2006 was 3,077, down 53 from the 3,130 counted in October 2006 and up 56 from the 3,021 counted in November 2005. (A) Excluding Iran and Sudan, the worldwide rig count for November 2006 was 3,077, down 53 from the 3,130 counted in October 2006 and up 113 from the 2,964 counted in November 2005.


     November 2006 Rotary Rig Counts

                     November 2006          October 2006      November 2005
                   Land  OS  Total  Var.  Land  OS   Total  Land   OS  Total
    ------------------------------------------------------------------------
      Europe         29  36    65   (15)    28  52     80     25   50    75
      Middle East   229  30   259     2    230  27    257    221   35   256
      Africa         51  18    69     1     50  18     68     38   11    49
      Latin
       America      250  68   318   (12)   265  65    330    253   65   318
      Asia Pacific  120 108   228    (2)   118 112    230    131  106   237
                    --- ---   ---    ---   --- ---    ---    ---  ---   ---
    International   679 260   939   (26)   691 274    965    668  267   935

      United
       States      1619  87  1706   (28)  1644  90   1734   1402   84  1486
      Canada        427   5   432     1    427   4    431    596    4   600
                    ---   -   ---     -    ---   -    ---    ---    -   ---
    North America  2046  92  2138   (27)  2071  94   2165   1998   88  2086
    ------------------------------------------------------------------------
    Worldwide      2725 352  3077   (53)  2762 368   3130   2666  355  3021

(A) Beginning with the January 2006 report, the company has discontinued its rig count for Iran and Sudan. In the third quarter of 2005, our independent foreign subsidiaries initiated a process to prohibit any business activity that directly or indirectly involves or facilitates transactions in Iran, Sudan or with their governments, including government-controlled companies operating outside of these countries.



    (A) November 2006 Totals excluding Iran and Sudan

                    November 2006          October 2006        November 2005
                   Land  OS  Total  Var.  Land   OS  Total   Land   OS  Total
    -------------------------------------------------------------------------
      Middle East   229  30   259     2    230   27   257     170   29   199
                                      -                       ---   --   ---
    International   679 260   939   (26)   691  274   965     617  261   878
    -------------------------------------------------------------------------
    Worldwide
     Total         2725 352  3077   (53)  2762  368  3130    2615  349  2964



     November 2006 Workover Rig Counts

                       November 2006    Var.   October 2006    November 2005
    ------------------------------------------------------------------------
      United States        1522         -40        1562             1446
      Canada                682          55         627              790
                            ---          --         ---              ---
    North America          2204          15        2189             2236


    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

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