Baker Hughes Announces January 2008 Rig Counts
February 07 2008 - 8:00AM
PR Newswire (US)
HOUSTON, Feb. 7 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:
BHI; EBS) announced today that the international rig count for
January 2008 was 1,053, up 17 from the 1,036 counted in December
2007, and up 81 from the 972 counted in January 2007. The
international offshore rig count for January 2008 was 291,
unchanged from the 291 counted in December 2007 and up 15 from the
276 counted in January 2007. The international rig count for
January 2008 reflects a 16 rig increase in Europe. Included in the
European rig count is a 17 rig increase in Romania compared to
December 2007. The increase in Romania is attributable to improved
visibility and coverage of rig activity in the country as well as
higher levels of overall activity. The US rig count for January
2008 was 1,749, down 62 from the 1,811 counted in December 2007 and
up 35 from the 1,714 counted in January 2007. The Canadian rig
count for January 2008 was 494, up 134 from the 360 counted in
December 2007 and down 74 from the 568 counted in January 2007. The
worldwide rig count for January 2008 was 3,296, up 89 from the
3,207 counted in December 2007 and up 42 from the 3,254 counted in
January 2007. January 2008 Rotary Rig Counts January 2008 December
2007 January 2007 Land OS Total Var. Land OS Total Land OS Total
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Europe 48 45 93 16 31 46 77 26 48 74 Middle East 241 34 275 1 235
39 274 235 28 263 Africa 52 16 68 (6) 58 16 74 52 17 69 Latin
America 291 74 365 (5) 294 76 370 265 70 335 Asia Pacific 130 122
252 11 127 114 241 118 113 231 --- --- --- --- --- --- --- --- ---
International 762 291 1053 17 745 291 1036 696 276 972 United
States 1690 59 1749 (62) 1749 62 1811 1630 84 1714 Canada 492 2 494
134 358 2 360 564 4 568 --- --- --- --- --- --- --- --- --- North
America 2182 61 2243 72 2107 64 2171 2194 88 2282
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Worldwide 2944 352 3296 89 2852 355 3207 2890 364 3254 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. 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 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 DATASOURCE: Baker Hughes Incorporated CONTACT: Gary
R. Flaharty, +1-713-439-8039, or H. Gene Shiels, +1-713-439-8822,
both of Baker Hughes Incorporated Web site:
http://www.bakerhughes.com/
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