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Baker Hughes Company is an American global energy technology company co-headquartered in Houston, Texas and London, UK.As one of the world's largest oil field services, industrial and energy technology companies, it provides products and services to the oil and gas industry for exploration and production, as well as other energy and industrial applications.
BJ Services in 2017 began operating as an independent joint venture after Baker Hughes sold a 53.3 percent stake in the hydraulic fracturing and cementing business to private equity firm CSL Capital Management and Goldman Sachs’ West Street Energy Partners for $325 million. [6] On 20 July 2020, BJ Services filed Chapter 11 bankruptcy. [7]
Revenue from Baker Hughes' oilfield services business, which accounts for about half of total sales, tumbled 26% to $2.41 billion in the second quarter. Baker Hughes has cut its 2020 budget by ...
Baker is the first oilfield services firm to report quarterly results, and its beat bodes well for rivals Schlumberger and Halliburton, both of which report in coming days.
Investors in Baker Hughes (NYSE: BHI) sent shares higher on Friday, despite the fact that the company announced a profit warning last Thursday. Investors were already well aware of the troubles in ...
Western Atlas wireline division, Western Atlas Logging Services, became Baker Atlas, one of seven divisions of Baker Hughes. The Western Geophysical division of Western Atlas was joined with Schlumberger geophysical operations, Geco-Prakla, to form WesternGeco in 2000. WesternGeco was initially owned jointly by Baker Hughes and Schlumberger. [2]
High oil price is likely to have aided Baker Hughes' (BKR) oilfield service business in Q2.
The firm announced it would acquire Baker Hughes for around $35 billion in cash and stock, creating an oilfield services company that aims to compete with Schlumberger. [47] Prior to the merger of Baker Hughes and Halliburton, Halliburton must divest over $5 billion of its assets according to the regulations created by US competition ...