Baker Hughes

The global LNG market remained tight during the third quarter, evidenced by price spikes, labor strikes in Australia and geopolitical turmoil,  but demand still rose about 1.5% year/year and is looking stronger, Baker Hughes Co. CEO Lorenzo Simonelli said Thursday. During a wide ranging conference call to discuss quarterly results, Simonelli provided insight into how…

Baker Hughes Co. has inked a deal to supply Tellurian Inc.’s Driftwood export terminal in Louisiana with liquefaction equipment, keeping the project on track to achieve first LNG in 2027 even though it hasn’t been sanctioned yet.  Baker Hughes would provide eight gas turbines, main refrigerant compressors and the control units needed for the first…

The opportunities for global natural gas, including LNG, look strong in the near term, with a “number of projects” likely to be sanctioned for the next few years, Baker Hughes Co. CEO Lorenzo Simonelli said Wednesday. During the conference call to discuss second quarter 2023 results, Simonelli said recent customer discussions to advance more liquefied…

North Carolina-based NET Power Inc., fueled by a powerhouse group of natural gas and oil investors, began trading publicly on Friday, with “ample capital” to build a backlog of utility-scale power plant projects as soon as 2026. Rice Acquisition Corp. II and NET Power LLC completed their merger last Thursday (June 8), which launched the…

Natural gas futures traders shrugged off continued mild weather forecasts and elevated supply data, seizing instead on a sharp drop in the weekly rig count to push prices higher for a second day. At A Glance: Bargain buying continues Rig count invigorates bulls NGI sees 110 Bcf injection Following a 7.6-cent gain to close out…

In a potential sign of low commodity prices finally catching up with upstream operators, the U.S. natural gas rig count plummeted during the week ended Friday (May 12), dropping 16 rigs to end the period at 141, according to data from Baker Hughes Co. (BKR). Prior to the latest BKR tally, the U.S. natural gas…

This year has begun with some “macro volatility,” but Baker Hughes Co.’s executive team remains optimistic about the outlook for energy services, particularly for natural gas. The Houston-based oilfield services (OFS) giant kicked off the quarterly earnings season for the energy sector on Wednesday. CEO Lorenzo Simonelli led a conference call with analysts to share…

The U.S. natural gas rig count dropped eight units to fall to 150 for the week ended Friday (Feb. 10), while a 10-rig increase in oil-directed drilling pushed the overall domestic tally two units higher to 761, according to updated figures from Baker Hughes Co. (BKR). Land drilling declined by four units domestically, while the…

Reflecting a notable upswing in the Gulf of Mexico (GOM) and a decline in U.S. land drilling, the domestic rig count rose two units to 761 for the week ended Friday (Feb. 10), according to the latest tally from Baker Hughes Co. (BKR). Ten oil-directed rigs were added in the United States for the week,…