Baker Hughes Announces October 2000 Rig Counts

HOUSTON--(BUSINESS WIRE)--Nov. 6, 2000--

International Rig Count Up 2% from September 2000; Up 29% from 1 year ago; Worldwide Rig Count Up 5% from September 2000; Up 34% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for October 2000 was 727, up 13 from the 714 counted in September 2000 and up 162 from the 565 counted in October 1999. The international offshore rig count for October 2000 was 219, up 6 from the 213 counted in September 2000 and up 62 from the 157 counted in October 1999.

The U.S. rig count for October 2000 was 1,055 up 44 from the 1,011 counted in September 2000 and up 344 from the 741 counted in October 1999. The Canadian rig count for October 2000 was 353 up 39 from the 314 counted in September 2000, and up 64 from the 289 counted in October 1999.

The worldwide rig count for October 2000 was 2,135 up 96 from the 2,039 counted in September 2000 and up 717 from the 1,418 counted in October 1999.

October 2000 Rotary Rig Counts

                 October 2000         September 2000      October 1999
              ---------------         --------------   ---------------
              Land   OS Total  Var   Land   OS Total   Land   OS Total
----------------------------------------------------------------------
 Europe         39   57    96    1     39   56    95     37   29    66
 Middle East   143   19   162    4    137   21   158    116   18   134
 Africa         25   25    50    3     25   22    47     25   13    38
 Latin America 210   55   265    6    207   52   259    161   34   195
 Asia Pacific   91   63   154   (1)    93   62   155     69   63   132
International  508  219   727   13    501  213   714    408  157   565
 U.S.          908  147 1,055   44    864  147 1,011    630  111   741
 Canada        348    5   353   39    310    4   314    285    4   289
N. America   1,256  152 1,408   83  1,174  151 1,325    915  115 1,030
----------------------------------------------------------------------
Worldwide    1,764  371 2,135   96  1,675  364 2,039  1,323  272 1,595
======================================================================

    October 2000 Workover Rig Counts

               October 2000      Var.  September 2000    October 1999
----------------------------------------------------------------------
 U.S.                 1,087       53            1,034             931
 Canada                 354       10              344             287
----------------------------------------------------------------------
North America         1,441       63            1,378           1,218
======================================================================

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--HM/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