Baker Hughes Rig Count Down 2% From June 2001

Baker Hughes Inc. announced on August 7 that the international rig count for July 2001 was 748, down 12 from the 760 counted in June 2001 and up 86 from the 662 counted in July 2000. The international offshore rig count for July 2001 was 217 down 15 from the 232 counted in June 2001 and up 28 from the 189 counted in July 2000. The U.S. rig count for July 2001 was 1,278 up 7 from the 1,271 counted in June 2001 and up 337 from the 941 counted in July 2000. The Canadian rig count for July 2001 was 319 up 17 from the 302 counted in June 2001 and up 13 from the 306 counted in July 2000. The worldwide rig count for July 2001 was 2,345 up 12 from the 2,333 counted in June 2001 and up 436 from the 1,909 counted in July 2000. 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 the 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.