International Rig Count Up 2% From January 2005; Up 11% From One Year Ago
Worldwide Rig Count Up 3% From January 2005; Up 11% From One Year Ago
HOUSTON, March 7 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI)
announced today that the international rig count for February 2005 was 876, up
16 from the 860 counted in January 2005, and up 86 from the 790 counted in
February 2004. The international offshore rig count for February 2005 was
253, up 19 from the 234 counted in January 2005 and up 17 from the 236 counted
in February 2005.
The US rig count for February 2005 was 1,276, up 21 from the 1,255 counted
in January 2005 and up 157 from the 1,119 counted in February 2004. The
Canadian rig count for February 2005 was 593, up 43 from the 550 counted in
January 2005 and up 25 from the 568 counted in February 2004.
The worldwide rig count for February 2005 was 2,745, up 80 from the
2,665 counted in January 2005 and up 268 from the 2,477 counted in
February 2004.
February 2005 Rotary Rig Counts
February 2005 January 2005 February 2004
---------------- ----------------- ---------------
Land OS Total Var. Land OS Total Land OS Total
--------------------------------------------------------------------------
Europe 24 30 54 (3) 24 33 57 30 43 73
Middle East 204 28 232 (10) 210 32 242 182 34 216
Africa 36 17 53 3 37 13 50 32 16 48
Latin America 249 68 317 10 246 61 307 205 64 269
Asia Pacific 110 110 220 16 109 95 204 105 79 184
International 623 253 876 16 626 234 860 554 236 790
United States 1,172 104 1,276 21 1,152 103 1,255 1,020 99 1,119
Canada 590 3 593 43 547 3 550 565 3 568
North America 1,762 107 1,869 64 1,699 106 1,805 1,585 102 1,687
--------------------------------------------------------------------------
Worldwide 2,385 360 2,745 80 2,325 340 2,665 2,139 338 2,477
==========================================================================
February 2005 Workover Rig Counts
February 2005 Var. January 2004 February 2003
--------------------------------------------------------------------------
United States 1,261 (3) 1,264 1,150
Canada 820 50 770 789
--------------------------------------------------------------------------
North America 2,081 47 2,034 1,939
==========================================================================
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.
Contacts: Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822
SOURCE Baker Hughes Incorporated
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Related links:
http://www.bakerhughes.com
http://www.bakerhughes.com/investor/rig
CONTACT:
Gary R. Flaharty, +1-713-439-8039, or H. Gene
Shiels, +1-713-439-8822, both of Baker Hughes Incorporated
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