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Baker Hughes, a GE company Announces January 2018 Rig Counts

Feb 7, 2018

HOUSTON & LONDON--(BUSINESS WIRE)--Feb. 7, 2018-- Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for January 2018 was 960, up 6 from the 954 counted in December 2017, and up 27 from the 933 counted in January 2017. The international offshore rig count for January 2018 was 196, up 5 from the 191 counted in December 2017, and down 10 from the 206 counted in January 2017.

The average US rig count for January 2018 was 937, up 7 from the 930 counted in December 2017, and up 254 from the 683 counted in January 2017. The average Canadian rig count for January 2018 was 278, up 73 from the 205 counted in December 2017, and down 24 from the 302 counted in January 2017.

The worldwide rig count for January 2018 was 2,175, up 86 from the 2,089 counted in December 2017, and up 257 from the 1,918 counted in January 2017.

January 2018 Rig Counts

                                                                   
     

January 2018

          December2017       January2017
        Land     Offshore     Total      

Month
Variance

    Land     Offshore     Total       Land     Offshore     Total
                       
Latin America 165 26 191 -4 169 26 195 142 34 176
Europe 57 27 84 -3 57 30 87 67 31 98
Africa 69 11 80 3 67 10 77 68 11 79
Middle East 342 41 383 5 336 42 378 334 48 382
Asia Pacific 131     91     222 5 134     83     217 116     82     198
International 764 196 960 6 763 191 954 727 206 933
 
United States 919 18 937 7 911 19 930 659 24 683
Canada 277     1     278 73 204     1     205 301     1     302
North America 1,196 19 1,215 80 1,115 20 1,135 960 25 985
                                           
Worldwide 1,960     215     2,175 86 1,878     211     2,089 1,687     231     1,918
 

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

Baker Hughes, a GE company
Media Relations:
Stephanie Cathcart, +1 202-549-6462
stephanie.cathcart@bhge.com
Melanie Kania, +1 713-439-8303
melanie.kania@bhge.com
or
Investor Relations:
Philipp Mueller, +1 281-809-9088
investor.relations@bhge.com

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