2001 rig countBaker Hughes Incorporated (ticker: BHI, exchange: New York Stock Exchange (.N)) News Release - 7-Jun-2001
Baker Hughes Announces May 2001 Rig Counts
HOUSTON, Jun 7, 2001 (BUSINESS WIRE) --
International Rig Count up 1% from April 2001; Up 20% from 1 year ago;
Worldwide Rig Count up 3% from April 2001; Up 34% from 1 year ago
Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for May 2001 was 752, up 10 from the 742 counted in April 2001 and up 125 from the 627 counted in May 2000. The international offshore rig count for May 2001 was 230, up 11 from the 219 counted in April 2001 and up 64 from the 166 counted in May 2000.
The US rig count for May 2001 was 1,234 up 28 from the 1,206 counted in April 2001 and up 389 from the 845 counted in May 2000. The Canadian rig count for May 2001 was 238 up 21 from the 217 counted in April 2001 and up 49 from the 189 counted in May 2000.
The worldwide rig count for May 2001 was 2,224 up 59 from the 2,165 counted in April 2001 and up 563 from the 1,661 counted in May 2000.
May 2001 Rotary Rig Counts
May 2001 April 2001 May 2000
Land OS Total Var Land OS Total Land OS Total
Europe 37 61 98 9 39 50 89 38 38 76
Middle East 145 29 174 5 141 28 169 135 21 156
Africa 31 24 55 (5) 32 28 60 25 21 46
Latin America 219 49 268 (2) 218 52 270 182 33 215
Asia Pacific 90 67 157 3 93 61 154 81 53 134
International 522 230 752 10 523 219 742 461 166 627
US 1,064 170 1,234 28 1,037 169 1,206 707 138 845
Canada 235 3 238 21 211 6 217 185 4 189
N. America 1,299 173 1,472 49 1,248 175 1,423 892 142 1,034
Worldwide 1,821 403 2,224 59 1,771 394 2,165 1,353 308 1,661
May 2001 Workover Rig Counts
May 2001 Var. April 2001 May 2000
US 1,267 51 1,216 1,041
Canada 290 25 265 279
North America 1,557 76 1,481 1,320
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 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 provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.
NOT INTENDED FOR BENEFICIAL HOLDERS
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