Baker Hughes

Baker Hughes Raises Global LNG Demand Forecast to 2030

Baker Hughes Raises Global LNG Demand Forecast to 2030

Baker Hughes Co. is projecting global demand growth for oil and natural gas into the second half of the year, aligned with rising demand for carbon-neutral products. “As we look ahead to the rest of 2021, we remain cautiously optimistic that the global economy and oil demand will recover from the impact of the global…

April 21, 2021
Baker Hughes, Chart Join Plug Power as Cornerstone Investors in Hydrogen Fund

Baker Hughes, Chart Join Plug Power as Cornerstone Investors in Hydrogen Fund

Baker Hughes Co. is helping to front a hydrogen infrastructure fund as a cornerstone investor with Chart Industries Inc. and Plug Power Inc. Fuel cell manufacturer Plug Power intends to commit $200 million to the FiveT Hydrogen Fund, with infrastructure giants Chart and Baker Hughes each committing $60 million to sponsoring the fund. The Euro-denominated…

April 6, 2021
U.S. Adds One Natural Gas Rig as Drilling Total Surges on Oil Gains

U.S. Adds One Natural Gas Rig as Drilling Total Surges on Oil Gains

The U.S. natural gas rig count rose one unit to 84 for the period ending Friday (Jan. 8), while gains in the oil patch saw the overall domestic drilling tally surge higher, according to the latest weekly numbers published Friday by oilfield services provider Baker Hughes Co. (BKR). In the United States, drillers added eight…

January 8, 2021
Activity Picks Up in Gassy Haynesville as U.S. Rig Count Climbs

Activity Picks Up in Gassy Haynesville as U.S. Rig Count Climbs

After some shuffling around in the major U.S. onshore plays, the domestic rig count added two units to finish at 348 for the holiday-shortened week ending Wednesday (Dec. 23), according to Baker Hughes Co. (BKR). An increase of two natural gas-directed units and one oil-directed unit, partially offset by the loss of one miscellaneous unit,…

December 23, 2020
One Natural Gas Rig Added in U.S., Sturdy Growth in Oil Patch

One Natural Gas Rig Added in U.S., Sturdy Growth in Oil Patch

The U.S. natural gas rig count increased one unit to 77 during the short holiday work week ended Wednesday (Nov. 25), while the overall domestic tally rose sharply on a double-digit increase in the oil patch, according to the latest figures from Baker Hughes Co. (BKR). The United States added 10 rigs overall for the…

November 25, 2020
U.S. Rig Count Soars Ahead of Holiday on Increases in Permian, Eagle Ford

U.S. Rig Count Soars Ahead of Holiday on Increases in Permian, Eagle Ford

The U.S. rig count rose 10 units to 320 during the short holiday work week ended Wednesday (Nov. 25), driven by a sharp increase in oil-directed drilling, including gains in the Permian Basin and Eagle Ford Shale, according to the latest figures from Baker Hughes Co. (BKR). Gains in the United States included 10 oil-directed…

November 25, 2020
Two Natural Gas Rigs Added in U.S. as Oil Drives Double-Digit Drilling Increase

Two Natural Gas Rigs Added in U.S. as Oil Drives Double-Digit Drilling Increase

The U.S. natural gas rig count rose two units to 73 for the week ending Friday (Nov. 13), while strength in the oil patch drove a double-digit increase in domestic drilling overall, according to the latest data from Baker Hughes Co. (BKR). Already on the ascent, the U.S. rig count’s trajectory bent further upward for…

November 13, 2020
U.S. Rig Count Rises Double Digits as Recovery Gains Steam

U.S. Rig Count Rises Double Digits as Recovery Gains Steam

Already on the ascent, the U.S. rig count’s trajectory bent further upward for the week ended Friday (Nov. 13), as strength in oil-directed drilling lifted the overall domestic tally 12 units to 312, according to the latest data from Baker Hughes Co. (BKR). Gains for the week included 10 oil rigs and two natural gas-directed…

November 13, 2020
Baker Hughes ‘More Optimistic’ on Natural Gas as Forward Prices Improve, LNG Orders Climb

Baker Hughes ‘More Optimistic’ on Natural Gas as Forward Prices Improve, LNG Orders Climb

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…

October 21, 2020
Baker Hughes Secures Equipment Deal for Major Qatari LNG Expansion

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
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