Baker Hughes Announces October 2007 Rig Counts

HOUSTON, Nov. 7 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that the international rig count for October 2007 was 1,024, down 8 from the 1,032 counted in September 2007, and up 59 from the 965 counted in October 2006. The international offshore rig count for October 2007 was 286, up 1 from the 285 counted in September 2007 and up 12 from the 274 counted in October 2006.

The US rig count for October 2007 was 1,762, down 21 from the 1,783 counted in September 2007 and up 28 from the 1,734 counted in October 2006. The Canadian rig count for October 2007 was 338, down 13 from the 351 counted in September 2007 and down 93 from the 431 counted in October 2006.

The worldwide rig count for October 2007 was 3,124, down 42 from the 3,166 counted in September 2007 and down 6 from the 3,130 counted in October 2006.

October 2007 Rotary Rig Counts


                   October 2007          September 2007      October 2006
                  Land  OS  Total   Var. Land   OS   Total  Land  OS   Total
------------------------------------------------------------------------------
     Europe        32   50    82     5     31   46     77    28   52     80
     Middle East  235   33   268    (5)   239   34    273   230   27    257
     Africa        54   15    69    (4)    57   16     73    50   18     68
     Latin
      America     289   66   355    (8)   291   72    363   265   65    330
     Asia
      Pacific     128  122   250     4    129  117    246   118  112    230
                  ---  ---   ---          ---  ---    ---   ---  ---    ---
    International 738  286  1024    (8)   747  285   1032   691  274    965

        United
        States   1713   49  1762   (21)  1718   65   1783  1644   90   1734
        Canada    335    3   338   (13)   348    3    351   427    4    431
                  ---  ---   ---          ---  ---    ---   ---  ---    ---
    North
     America     2048   52  2100   (34)  2066   68   2134  2071   94   2165

------------------------------------------------------------------------------

    Worldwide    2786  338  3124   (42)  2813  353   3166  2762  368   3130


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.

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 is 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