Baker Hughes Introduces Well Count
New Well Count Index Complements Legacy Rig Count
HOUSTON, July 18, 2013
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
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
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:
Media Relations: Christine Mathers, +1.713.439.8738,
Investor Relations: Trey Clark, +1.713.439.8039, firstname.lastname@example.org
Eric Holcomb, +1.713.439.8822,
SOURCE Baker Hughes Incorporated
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