Baker Hughes Incorporated (ticker: BHI, exchange: New York Stock Exchange (.N)) News Release - 7-Apr-2005
Baker Hughes Announces March 2005 Rig Counts
International Rig Count Up 2% From February 2005; Up 12% From One Year Ago Worldwide Rig Count Down 5% From February 2005; Up 9% From One Year Ago
HOUSTON, April 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that the international rig count for March 2005 was 891, up 15 from the 876 counted in February 2005, and up 92 from the 799 counted in March 2004. The international offshore rig count for March 2005 was 254, up 1 from the 253 counted in February 2005 and up 18 from the 236 counted in March 2004.
The US rig count for March 2005 was 1,306, up 30 from the 1,276 counted in February 2005 and up 170 from the 1,136 counted in March 2004. The Canadian rig count for March 2005 was 420, down 173 from the 593 counted in February 2005 and down 42 from the 462 counted in March 2004.
The worldwide rig count for March 2005 was 2,617, down 128 from the 2,745 counted in February 2005 and up 220 from the 2,397 counted in March 2004.
March 2005 Rotary Rig Counts
March 2005 February 2005 March 2004
Land OS Total Var. Land OS Total Land OS Total
Europe 25 46 71 17 24 30 54 31 48 79
Middle East 213 33 246 14 204 28 232 186 32 218
Africa 37 14 51 -2 36 17 53 30 11 41
Latin America 256 58 314 -3 249 68 317 210 68 278
Asia Pacific 106 103 209 -11 110 110 220 106 77 183
International 637 254 891 15 623 253 876 563 236 799
United
States 1,210 96 1,306 30 1,172 104 1,276 1,042 94 1,136
Canada 418 2 420 -173 590 3 593 458 4 462
North America 1,628 98 1,726 -143 1,762 107 1,869 1,500 98 1,598
Worldwide 2,265 352 2,617 -128 2,385 360 2,745 2,063 334 2,397
March 2005 Workover Rig Counts
March 2005 Var. February 2005 March 2004
United States 1,259 -2 1,261 1,238
Canada 718 -102 820 449
North America 1,977 -104 2,081 1,687
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 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