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Baker Hughes, a GE company Announces August 2019 Rig Counts

September 9, 2019

HOUSTON & LONDON--(BUSINESS WIRE)--Sep 9, 2019--

Baker Hughes, a GE company (NYSE: BHGE) announced today that the Baker Hughes international rig count for August 2019 was 1,138, down 24 from the 1,162 counted in July 2019, and up 130 from the 1,008 counted in August 2018. The international offshore rig count for August 2019 was 244, down 11 from the 255 counted in July 2019, and up 32 from the 212 counted in August 2018.

The average U.S. rig count for August 2019 was 926, down 29 from the 955 counted in July 2019, and down 124 from the 1,050 counted in August 2018. The average Canadian rig count for August 2019 was 142, up 21 from the 121 counted in July 2019, and down 78 from the 220 counted in August 2018.

The worldwide rig count for August 2019 was 2,206, down 32 from the 2,238 counted in July 2019, and down 72 from the 2,278 counted in August 2018.

August 2019 Rig Counts

See note to editor at the bottom of this press release.

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.

Note to editor: As of June 07, 2019, Ukraine was added to the Baker Hughes International Rig Count report and is reflected in the Europe count. This addition is not reflected in historical data.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190909005234/en/

CONTACT: Media Relations:

Melanie Kania

+1 713-439-8303

melanie.kania@bhge.comorInvestor Relations:

Jud Bailey

+1 281-809-9088

investor.relations@bhge.com

KEYWORD: NORTH AMERICA UNITED STATES UNITED KINGDOM EUROPE TEXAS

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: Baker Hughes, a GE company

Copyright Business Wire 2019.

PUB: 09/09/2019 06:00 AM/DISC: 09/09/2019 06:01 AM

http://www.businesswire.com/news/home/20190909005234/en

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