Baker Hughes announces October 2012 rig counts

Thursday, Nov 08, 2012

HOUSTON, Nov. 7, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for October 2012 was 1,259, up 5 from the 1,254 counted in September 2012, and up 62 from the 1,197 counted in October 2011. The international offshore rig count for October 2012 was 306, up 13 from the 293 counted in September 2012 and down 6 from the 312 counted in October 2011.

The average U.S. rig count for October 2012 was 1,834, down 25 from the 1,859 counted in September 2012 and down 183 from the 2,017 counted in October 2011. The average Canadian rig count for October 2012 was 365, up 9 from the 356 counted in September 2012 and down 143 from the 508 counted in October 2011.

The worldwide rig count for October 2012 was 3,458, down 11 from the 3,469 counted in September 2012 and down 264 from the 3,722 counted in October 2011.

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.  Baker 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.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.

SOURCE Baker Hughes Incorporated

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