International Rig Count Down One Rig From December 2003; Up 9% From One Year
Ago
Worldwide Rig Count Up 5% From December 2003; Up 19% From One Year Ago
HOUSTON, Feb. 6 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated
(NYSE: BHI; PCX; EBS) announced today that the international rig count for
January 2004 was 802, down one from the 803 counted in December 2003, and up
68 from the 734 counted in January 2003. The international offshore rig count
for January 2004 was 227, down 20 from the 247 counted in December 2003, and
up 14 from the 213 counted in January 2003.
The US rig count for January 2004 was 1,101, down 13 from the 1,114
counted in December 2003 and up 247 from the 854 counted in January 2003. The
Canadian rig count for January 2004 was 554, up 137 from the 417 counted in
December 2003 and up 76 from the 478 counted in January 2003.
The worldwide rig count for January 2004 was 2,457 up 123 from the 2,334
counted in December 2003 and up 391 from the 2,066 counted in January 2003.
January 2004 Rotary Rig Counts
January 2004 December 2003 January 2003
--------------- -------------- ---------------
Land OS Total Var. Land OS Total Land OS Total
-------------------------------------------------------------------------
Europe 33 36 69 (14) 36 47 83 37 47 84
Middle East 187 35 222 5 183 34 217 175 35 210
Africa 36 12 48 (14) 38 24 62 37 16 53
Latin America 211 62 273 9 197 67 264 166 45 211
Asia Pacific 108 82 190 13 102 75 177 106 70 176
International 575 227 802 (1) 556 247 803 521 213 734
United States 1,001 100 1,101 (13) 1,009 105 1,114 743 111 854
Canada 549 5 554 137 412 5 417 475 3 478
North America 1,550 105 1,655 124 1,421 110 1,531 1,218 114 1,332
-------------------------------------------------------------------------
Worldwide 2,125 332 2,457 123 1,977 357 2,334 1,739 327 2,066
=========================================================================
January 2004 Workover Rig Counts
January 2004 Var. December 2003 January 2002
-------------------------------------------------------------------------
United States 1,182 20 1,162 989
Canada 767 463 304 489
-------------------------------------------------------------------------
North America 1,949 483 1,466 1,478
=========================================================================
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 are 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
Contact:
Gary R. Flaharty (713) 439-8039
gary.flaharty@bakerhughes.com
Kyle J. Leak (713) 439-8042
kyle.leak@bakerhughes.com
SOURCE Baker Hughes Incorporated
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Related links:
http://www.bakerhughes.com
CONTACT:
Gary R. Flaharty, +1-713-439-8039, or
gary.flaharty@bakerhughes.com , or Kyle J. Leak, +1-713-439-8042,
or kyle.leak@bakerhughes.com , both of Baker Hughes Incorporated
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