Lifted by a major natural gas order from longtime partner Qatar Petroleum, Baker Hughes Co. saw its revenue climb and equipment orders increase during the third quarter by 4% sequentially. CEO Lorenzo Simonelli said he sees positives for natural gas, pointing to the major liquefied natural gas (LNG) order in Qatar. However, like his fellow…
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Articles from Baker Hughes
Baker Hughes Secures Equipment Deal for Major Qatari LNG Expansion
Baker Hughes Co. said Tuesday it will supply Qatar Petroleum gas-powered refrigerant units for an expansion of the Middle Eastern country’s liquefaction capacity to 110 million metric tons/year (mmty) from 77 mmty by 2025. The Houston-based oilfield services giant said it is among the largest liquefied natural gas (LNG) deals it has secured in the…
September 29, 2020
Baker Hughes Sees Uptick in Covid-Related Remote Operations, with Longer-Term LNG Outlook Still Positive
Covid-19 has created near-term challenges, but Baker Hughes Co. has seen positives as its remote services capabilities expand to serve customers. In addition, the outlook for global natural gas continues to be solid, CEO Lorenzo Simonelli said Wednesday. Simonelli shared second quarter results and insight on the opportunities and challenges ahead during a conference call…
July 22, 2020
U.S. Down One Natural Gas Rig, Oil Patch Down Four
The U.S. natural gas rig count fell one unit to 75 for the week ending Friday (July 10), while more losses in the oil patch ensured that the combined domestic tally would extend a months-long slide, the latest numbers from Baker Hughes Co. (BKR) show. After the departure of four oil-directed rigs in the United…
July 10, 2020
NGI The Weekly Gas Market Report
Baker Hughes Confident Natural Gas Markets Improving, but LNG FIDs Likely in Holding Pattern
With U.S. producers now shutting in wells across the United States, the natural gas markets are likely to improve as the decline in associated production from oil “could lift North American prices sooner than previously thought,” Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday.
April 22, 2020
BHGE Gains on Stronger LNG Equipment Demand, Overseas Activity
The expansion worldwide in global liquefied natural gas (LNG) demand and growing international oil and gas services helped lift the second quarter performance of Baker Hughes, a GE company (BHGE).
July 31, 2019
U.S. Onshore Activity Flattens, with Six Rigs Dropped, Says BHGE
Domestic oil and natural gas producers dropped six land rigs as of Wednesday (Nov. 21) from a week earlier, but gains in Canada and the Gulf of Mexico lifted the overall North American count by four, according to data compiled by Baker Hughes, a GE Company (BHGE).
November 21, 2018
Texas Leads Gains as BHGE’s U.S. Rig Count Climbs by Four
The U.S. rig count grew by four to 1,067 for the week ended Friday (Oct. 19), driven by gains in oil drilling and featuring a sharp uptick in Texas, according to data from Baker Hughes, a GE Company (BHGE).
October 19, 2018
U.S. Drops Three Natural Gas Rigs, Oil Down Too
Three natural gas rigs packed up shop in the United States for the week ended Friday as overall domestic drilling activity pulled back, according to data from Baker Hughes Inc. (BHI).
August 3, 2018
U.S. Drops One Natural Gas Rig, Oil Paces Small Gain in BHI’s Count
The United States dropped one natural gas-directed rig as an uptick in oil activity led to a small increase in Baker Hughes Inc.’s tally for the week ended Friday.
July 27, 2018
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