Baker Hughes Announces May 2006 Rig Counts

HOUSTON, June 7 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI; EBS) announced today that the international rig count for May 2006was 920, up eight from the 912 counted in April 2006, and up one from the 919counted in May 2005. The international offshore rig count for May 2006 was275, up six from the 269 counted in April 2006 and unchanged from the 275counted in May 2005.

(A) Excluding Iran and Sudan, the international rig count for May 2006 was920, up eight from the 912 counted in April 2006, and up 59 from the 861counted in May 2005. The international offshore rig count for May 2006 was275, up six from the 269 counted in April 2006 and up nine from the 266counted in May 2005.

The US rig count for May 2006 was 1,635 up 38 from the 1,597 counted inApril 2006 and up 316 from the 1,319 counted in May 2005. The Canadian rigcount for May 2006 was 240, up 42 from the 198 counted in April 2006 and downseven from the 247 counted in May 2005.

The worldwide rig count for May 2006 was 2,795, up 88 from the 2,707counted in April 2006 and up 310 from the 2,485 counted in May 2005. (A)Excluding Iran and Sudan, the worldwide rig count for May 2006 was 2,795, up88 from the 2,707 counted in April 2006 and up 368 from the 2,427 counted inMay 2005.

May 2006 Rotary Rig Counts May 2006 April 2006 May 2005 Land OS Total Var. Land OS Total Land OS Total -------------------------------------------------------------------------- Europe 25 61 86 5 26 55 81 27 45 72 Middle East 198 31 229 3 201 25 226 211 34 245 Africa 38 12 50 -6 39 17 56 33 13 46 Latin America 268 65 333 6 264 63 327 264 66 330 Asia Pacific 116 106 222 0 113 109 222 109 117 226 --- --- --- --- --- --- --- --- --- --- International 645 275 920 8 643 269 912 644 275 919 United States 1535 100 1635 38 1502 95 1597 1229 90 1319 Canada 237 3 240 42 196 2 198 244 3 247 --- --- --- --- --- --- --- --- --- --- North America 1772 103 1875 80 1698 97 1795 1473 93 1566 -------------------------------------------------------------------------- Worldwide 2417 378 2795 88 2341 349 2707 2117 368 2485 (A) Beginning with the January 2006 report, the company has discontinued its rig count for Iran and Sudan. In the third quarter of 2005, our independent foreign subsidiaries initiated a process to prohibit any business activity that directly or indirectly involves or facilitates transactions in Iran, Sudan or with their governments, including government-controlled companies operating outside of these countries. (A) May 2006 Totals excluding Iran and Sudan May 2006 April 2006 May 2005 Land OS Total Var. Land OS Total Land OS Total -------------------------------------------------------------------------- Middle East 198 31 229 3 201 25 226 162 25 187 --- --- --- --- --- --- --- --- --- --- International 645 275 920 8 643 269 912 595 266 861 US 1535 100 1635 38 1502 95 1597 1229 90 1319 Canada 237 3 240 42 196 2 198 244 3 247 --- --- --- --- --- --- --- --- --- --- -------------------------------------------------------------------------- Worldwide Total 2417 378 2795 88 2341 366 2707 2068 359 2427 May 2006 Workover Rig Counts May 2006 Var. April 2006 May 2005 -------------------------------------------------------------------------- United States 1657 88 1569 1336 Canada 526 208 318 466 --- --- --- --- North America 2183 296 1887 1802 About the Baker Hughes Rig Counts

The Baker Hughes Rotary Rig Counts are counts of the number of drillingrigs actively exploring for or developing oil or natural gas in the UnitedStates, Canada and international markets. Baker Hughes has issued the rotaryrig counts as a service to the petroleum industry since 1944, when Hughes ToolCompany began weekly counts of US and Canadian drilling activity. Hughesinitiated the monthly international rig count in 1975. In 1987, Baker OilTools began its monthly workover rig count.

North American rig count data is scheduled to be released at noon centraltime on the last working day of each week. The international rig count andNorth American workover rig counts are scheduled to be released on the 5thworking day of the month. Additional detailed information on the Baker Hughesrig counts is available from our website athttp://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 gasindustry.

NOT INTENDED FOR BENEFICIAL HOLDERS

Contacts:

Gary R. Flaharty (713) 439-8039
H. Gene Shiels (713) 439-8822

SOURCE: 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

http://www.bakerhughes.com/investor/rig

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