January 8, 2019 - 6:00 AM EST
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Baker Hughes, a GE company Announces December 2018 Rig Counts

HOUSTON & LONDON

Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for December 2018 was 1,025, up 34 from the 991 counted in November 2018, and up 71 from the 954 counted in December 2017. The international offshore rig count for December 2018 was 234, up 28 from the 206 counted in November 2018, and up 43 from the 191 counted in December 2017.

The average U.S. rig count for December 2018 was 1,078, up 1 from the 1,077 counted in November 2018, and up 148 from the 930 counted in December 2017. The average Canadian rig count for December 2018 was 141, down 57 from the 198 counted in November 2018, and down 64 from the 205 counted in December 2017.

The worldwide rig count for December 2018 was 2,244, down 22 from the 2,266 counted in November 2018, and up 155 from the 2,089 counted in December 2017.

December 2018 Rig Counts

                                                                     
      December 2018             November 2018       December 2017
        Land     Offshore     Total      

Month
Variance

      Land     Offshore     Total       Land     Offshore     Total
                       
Latin America 170 27 197 8 161 28 189 169 26 195
Europe 57 38 95 12 56 27 83 57 30 87
Africa 93 15 108 5 87 16 103 67 10 77
Middle East 338 56 394 0 344 50 394 336 42 378
Asia Pacific 133     98     231 9 137     85     222 134     83     217
International 791 234 1,025 34 785 206 991 763 191 954
 
United States 1,054 24 1,078 1 1,055 22 1,077 911 19 930
Canada 139     2     141 -57 196     2     198 204     1     205
North America 1,193 26 1,219 -56 1,251 24 1,275 1,115 20 1,135
                                           
Worldwide 1,984     260     2,244 -22 2,036     230     2,266 1,878     211     2,089
                                                                     
 

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.

Media Relations:
Melanie Kania, +1 713-439-8303
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Yulia Caris, +44 7827-35-4283
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or

Investor Relations:
Philipp Mueller, +1 281-809-9088
[email protected]


Source: Business Wire (January 8, 2019 - 6:00 AM EST)

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