Baker Hughes Announces September 2001 Rig Counts.

Business/Energy Editors

HOUSTON--(BUSINESS WIRE)--Oct. 5, 2001

International Rig Count up 1% from August 2001; Up 7% from 1 year ago;

Worldwide Rig Count down 2% from August 2001; Up 12% from 1 year ago

Baker Hughes Incorporated (NYSE:BHI)(PCX:BHI)(EBS:BHI) announced today that the international rig count for September 2001 was 766, up 10 from the 756 counted in August 2001 and up 52 from the 714 counted in September 2000. The international offshore rig count for September 2001 was 226, up 7 from the 219 counted in August 2001 and up 13 from the 213 counted in September 2000.

The US rig count for September 2001 was 1,193, down 59 from the 1,252 counted in August 2001 and up 182 from the 1,011 counted in September 2000. The Canadian rig count for September 2001 was 317, down 8 from the 325 counted in August 2001 and up 3 from the 314 counted in September 2000.

The worldwide rig count for September 2001 was 2,276, down 57 from the 2,333 counted in August 2001 and up 237 from the 2,039 counted in September 2000.

September 2001 Rotary Rig Counts

                September 2001         August 2001     September 2000
                ---------------      ----------------  ---------------
                Land  OS  Total Var  Land   OS  Total  Land  OS  Total
----------------------------------------------------------------------
 Europe           40  60   100  10     34   56    90     39  56    95
 Middle East     149  38   187  (2)   152   37   189    137  21   158
 Africa           28  24    52   0     28   24    52     25  22    47
 Latin America   225  41   266   1    221   44   265    207  52   259
 Asia Pacific     98  63   161   1    102   58   160     93  62   155
International    540 226   766  10    537  219   756    501 213   714
 US            1,050 143 1,193 (59) 1,105  147 1,252    864 147 1,011
 Canada          311   6   317  (8)   319    6   325    310   4   314
N. America     1,361 149 1,510 (67) 1,424  153 1,577  1,174 151 1,325
----------------------------------------------------------------------
Worldwide      1,901 375 2,276 (57) 1,961  372 2,333  1,675 364 2,039
======================================================================


September 2001 Workover Rig Counts

                 September 2001    Var.  August 2001   September 2000
----------------------------------------------------------------------
  US                  1,246        (57)     1,303           1,034
  Canada                345        (10)       355             344
----------------------------------------------------------------------
North America         1,591        (67)     1,658           1,378
======================================================================

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 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