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Press release from PR Newswire

Baker Hughes Introduces Well Count

Thursday, July 18, 2013

Baker Hughes Introduces Well Count

18:00 EDT Thursday, July 18, 2013

New Well Count Index Complements Legacy Rig Count

HOUSTON, July 18, 2013 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today the introduction of the Baker Hughes Well Count, a new index that provides key U.S. onshore well count data to the oil and gas industry. The proprietary count will be available on a quarterly basis.  The Baker Hughes Well Count is a natural extension of the Baker Hughes Rig Count, which has provided key activity data for more than 70 years. 

"We've been collecting and analyzing oilfield market data for decades," commented Martin Craighead, Chairman and CEO of Baker Hughes. "In the past couple of years, a number of new technologies have been introduced that are purpose-built for drilling and producing from shale. When we compare well count and rig count data side-by-side, we can see that efficiencies in the U.S. are improving and that drilling rigs in some basins are drilling wells faster." 

The Baker Hughes Well Count will be published quarterly on the second Friday of January, April, July and October. Users can access the current Baker Hughes Well Count information as well as historical data that dates back to the first quarter of 2012 on the Baker Hughes website at www.bakerhughes.com/wellcount.  The index will be presented both by wells spud for U.S. onshore as well as by major basin. 

Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 59,000-plus employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. For more information on Baker Hughes' century-long history, visit: www.bakerhughes.com.

CONTACTS:

Media Relations:   

Christine Mathers, +1.713.439.8738, christine.mathers@bakerhughes.com

Investor Relations:  

Trey Clark, +1.713.439.8039, trey.clark@bakerhughes.com 

Eric Holcomb, +1.713.439.8822, eric.s.holcomb@bakerhughes.com

SOURCE Baker Hughes Incorporated

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