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Baker Hughes, a GE company Announces October 2018 Rig Counts

November 7, 2018

HOUSTON & LONDON--(BUSINESS WIRE)--Nov 7, 2018--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for October 2018 was 1,017, up 13 from the 1,004 counted in September 2018, and up 66 from the 951 counted in October 2017. The international offshore rig count for October 2018 was 207, up 3 from the 204 counted in September 2018, and up 3 from the 204 counted in October 2017.

The average U.S. rig count for October 2018 was 1,062, up 9 from the 1,053 counted in September 2018, and up 140 from the 922 counted in October 2017. The average Canadian rig count for October 2018 was 192, down 9 from the 201 counted in September 2018, and down 12 from the 204 counted in October 2017.

The worldwide rig count for October 2018 was 2,271, up 13 from the 2,258 counted in September 2018, and up 194 from the 2,077 counted in October 2017.

October 2018 Rig Counts

About the Baker Hughes Rig Counts

The Baker Hughes rig counts are counts of the number of drilling rigs actively exploring for or developing oil or natural gas in the U.S., Canada and international markets. The company has issued the rig counts as a service to the petroleum industry since 1944, when Hughes Tool Company began weekly counts of the U.S. and Canadian drilling activity. The monthly international rig count was initiated in 1975.

The North American rig count 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 fifth working day of the month at 5:00 a.m. Central Time. Additional detailed information on the Baker Hughes rig counts is available from our website.

About Baker Hughes, a GE company

Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions. We deploy minds and machines to enhance customer productivity, safety and environmental stewardship, while minimizing costs and risks at every step of the energy value chain. With operations in over 120 countries, we infuse over a century of experience with the spirit of a startup – inventing smarter ways to bring energy to the world.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181107005075/en/

CONTACT: Baker Hughes, a GE company

Media Relations:

Melanie Kania, +1 713-439-8303

melanie.kania@bhge.com

or

Yulia Caris, +44 7827-35-4283

yulia.caris@bhge.com

or

Investor Relations:

Philipp Mueller, +1 281-809-9088

investor.relations@bhge.com

KEYWORD: UNITED KINGDOM UNITED STATES EUROPE NORTH AMERICA TEXAS

INDUSTRY KEYWORD: ENERGY OIL/GAS

SOURCE: Baker Hughes, a GE company (BHGE)

Copyright Business Wire 2018.

PUB: 11/07/2018 06:00 AM/DISC: 11/07/2018 06:00 AM

http://www.businesswire.com/news/home/20181107005075/en

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