Baker Hughes Extends Exchange Offer for Senior Notes Due 2021

HOUSTON, May 10, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has further extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 that have not been registered under the Act (the "Old Notes").

As a result of the extension, the exchange offer is now scheduled to expire at 5 p.m., Eastern time, on May 24, 2012, unless further extended. The exchange offer was previously set to expire at 5 p.m., Eastern time, on May 10, 2012. As of this date, tenders of approximately $747,190,000 aggregate principal amount, or 99.63%, of the Old Notes have been received pursuant to the exchange offer. Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated April 5, 2012.

This news release is not an offer to exchange the New Notes for the Old Notes or the solicitation of an offer to exchange, which we are making only through the exchange offer prospectus.

Copies of the prospectus and letter of transmittal may be obtained from the following:

By Registered or Certified Mail
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Overnight Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Hand Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options — Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

Eligible institutions may make requests by facsimile at (212) 298-1915 and may confirm facsimile delivery by calling (212) 815-2742.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.

This news release contains forward-looking statements as defined under federal securities laws. These forward-looking statements involve certain risks and uncertainties and actual results could differ materially. Baker Hughes undertakes no obligation to publicly update or revise any forward-looking statement.

CONTACTS:

Media Relations:       Teresa Wong, +1.713.439.8110, teresa.wong@bakerhughes.com

                                Pam Easton, +1.713.439.8391, pamela.easton@bakerhughes.com

Investor Relations:     Adam Anderson, +1.713.439.8039, adam.anderson@bakerhughes.com

                               Eric Holcomb, +1.713.439.8822, eric.s.holcomb@bakerhughes.com

SOURCE Baker Hughes Incorporated

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Baker Hughes Extends Exchange Offer for Senior Notes Due 2021

HOUSTON, May 3, 2012 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it has extended the expiration date of its offer to exchange up to $750 million aggregate principal amount of its 3.20% Senior Notes due 2021 (the "New Notes") that have been registered under the Securities Act of 1933, as amended, for an equal amount of its outstanding 3.20% Senior Notes due 2021 or that have not been registered under the Act (the "Old Notes").

As a result of the extension, the exchange offer is now scheduled to expire at 5 p.m., Eastern time, on May 10, 2012, unless further extended. The exchange offer was originally set to expire at 5 p.m., Eastern time, on May 3, 2012. As of this date, tenders of approximately $747,190,000 aggregate principal amount, or 99.63%, of the Old Notes have been received pursuant to the exchange offer. Except for the extension of the expiration date, all of the other terms of the exchange offer remain as set forth in the exchange offer prospectus, dated April 5, 2012.

This news release is not an offer to exchange the New Notes for the Old Notes or the solicitation of an offer to exchange, which we are making only through the exchange offer prospectus.

Copies of the prospectus and letter of transmittal may be obtained from the following:

By Registered or Certified Mail
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Overnight Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

By Hand Delivery
The Bank of New York Mellon Trust Company, N.A.
c/o The Bank of New York Mellon Trust Corporation
Corporate Trust Options -- Reorganization Unit
101 Barclay Street, Floor 7 East
New York, NY 10286
Attention: Diane Amoroso

Eligible institutions may make requests by facsimile at (212) 298-1915 and may confirm facsimile delivery by calling (212) 815-2742.

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 58,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit www.bakerhughes.com.

This news release contains forward-looking statements as defined under federal securities laws. These forward-looking statements involve certain risks and uncertainties and actual results could differ materially. Baker Hughes undertakes no obligation to publicly update or revise any forward-looking statement.

SOURCE Baker Hughes Incorporated

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INTEQ Extends Drilling Performance Envelope with AutoTrak® X-treme® Rotary Steerable Service

HOUSTON - April 27, 2006 - INTEQ has launched the AutoTrak® X-treme® Rotary Closed Loop Drilling System (RCLS), which delivers precise wellbore placement at high drilling efficiency.

INTEQ has integrated its third-generation AutoTrak rotary steerable system with its X-treme motor technology, which generates 50% to 100% more power than conventional motors. As a result, the new AutoTrak X-treme system offers pinpoint well placement and exceptional hole quality capabilities of the AutoTrak system with high penetration rates associated with the X-treme motor.

“The introduction of AutoTrak systems nearly ten years ago enabled complex 3-D wells to be drilled precisely through the reservoir for increased hydrocarbon recovery and lower cost,” explained Martin Craighead, INTEQ President. “We expect the advantages of the AutoTrak X-treme system to have a similar impact by further extending field development options and improving drilling efficiencies.”

Available to drill hole sizes from 5-7/8" to 18-1/4", the AutoTrak X-treme system has been field tested in rigorous drilling environments. In more than 100 demanding well sections, AutoTrak X-treme system has increased drilling efficiency, extended the reach of lower- capacity drilling rigs and reduced costs associated with casing or drillstring wear. The system has reduced risk in re-entry applications to allow operators to extend field life through economical access to stranded reserves.

In the North Sea, the AutoTrak X-treme system is being used routinely to extend the reach of horizontal production wells several thousand feet past prior limits for enhanced recovery. The AutoTrak X-treme system is also being applied extensively in Saudi Arabia to drill extended multilateral wells faster and more precisely to achieve reduced cost, early production and higher hydrocarbon recovery. In offshore India, the system has improved drilling performance and reach capabilities on a challenging multilateral project.

INTEQ, a division of Baker Hughes, is a provider of advanced While-Drilling technologies and services. Major capabilities include directional drilling, Measurement-While-Drilling (MWD), Logging-While-Drilling (LWD) and well-site information management services.

Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.

CONTACT:
Stephen Scheffer, 713/625-4465
stephen.scheffer@bakerhughes.com
www.bakerhughes.com/inteq

AutoTrak X-treme services can be used to drill hole sizes from 5-7/8" to 18-1/4".

AutoTrak X-treme system’s added power (50% to 100%) is made possible by a proprietary X-treme stator design.

In offshore India, the AutoTrak X-treme system is being used to improve drilling efficiency and extend the reach of wells in a challenging limestone reservoir.

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