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Baker Hughes, a GE company Announces August 2018 Rig Counts

Sep 10, 2018

HOUSTON & LONDON--(BUSINESS WIRE)--Sep. 10, 2018-- Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for August 2018 was 1,008, up 11 from the 997 counted in July 2018, and up 56 from the 952 counted in August 2017. The international offshore rig count for August 2018 was 212, down 5 from the 217 counted in July 2018, and up 11 from the 201 counted in August 2017.

The average U.S. rig count for August 2018 was unchanged at 1,050 counted in July 2018, and up 103 from the 947 counted in August 2017. The average Canadian rig count for August 2018 was 220, up 16 from the 204 counted in July 2018, and up 3 from the 217 counted in August 2017.

The worldwide rig count for August 2018 was 2,278, up 27 from the 2,251 counted in July 2018, and up 162 from the 2,116 counted in August 2017.

August 2018 Rig Counts

                                     
          August2018             July2018       August2017
            Land     Offshore     Total      

Month
Variance

      Land     Offshore     Total       Land     Offshore     Total
                       
Latin America 168 24 192 2 161 29 190 160 31 191
Europe 53 32 85 5 48 32 80 53 38 91
Africa 87 17 104 6 79 19 98 72 12 84
Middle East 351 51 402 2 354 46 400 340 51 391
Asia Pacific 137     88     225 -4 138     91     229 126     69     195
International 796 212 1,008 11 780 217 997 751 201 952
 
United States 1,031 19 1,050 0 1,032 18 1,050 930 17 947
Canada 219     1     220 16 201     3     204 215     2     217
North America 1,250 20 1,270 16 1,233 21 1,254 1,145 19 1,164
                                           
Worldwide 2,046     232     2,278 27 2,013     238     2,251 1,896     220     2,116
                                                                         

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.

Source: Baker Hughes, a GE company (BHGE)

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

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