Baker Hughes

U.S. Onshore Activity Flattens, with Six Rigs Dropped, Says BHGE

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

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

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

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
BHI U.S. Rig Count Steady as Permian, Marcellus Activity Rises

BHI U.S. Rig Count Steady as Permian, Marcellus Activity Rises

Having enjoyed consistent growth since 2016, the U.S. rig count has leveled off in recent weeks, a trend that continued for the week ended Friday as Baker Hughes Inc.’s (BHI) domestic tally increased by two units overall, including gains in the Marcellus Shale and Permian Basin.

July 27, 2018
BHGE Orders Hit $6B in 2Q, While Synergies from Merger Escalate

BHGE Orders Hit $6B in 2Q, While Synergies from Merger Escalate

One year after General Electric Co. (GE) combined its estimable oilfield services business with Baker Hughes Inc., the company is working to secure oilfield business in an increasingly competitive market, a strategy that appeared to pay dividends during the second quarter.

July 23, 2018

Briefs– Baker Hughes NGS Sale

Baker Hughes, a GE company (BHGE), is selling its natural gas solutions (NGS) business, part of the turbomachinery and process solutions segment, in two separate agreements for a total of $375 million. The NGS product line is being sold to First Reserve in a transaction that includes three manufacturing sites in North America and the UK, as well as transferring 450 employees in eight countries. Separately, the Talamona, Italy branch of the NGS product line, which includes a manufacturing site, is being sold to Pietro Fiorentini SpA. Forty employees in Talamona also would be transferred. Both transactions are expected to close by the end of the year.

July 19, 2018
BHI’s Domestic Rig Count Drops Amid Both Oil, NatGas Oil Declines

BHI’s Domestic Rig Count Drops Amid Both Oil, NatGas Oil Declines

The U.S. rig count fell by five units for the week ended Friday thanks to a drop in both oil and natural gas activity, including declines in the Haynesville and Eagle Ford shales and in the Williston Basin, according to data from Baker Hughes Inc.

June 29, 2018

GE to Punt Baker Hughes Within Three Years

General Electric (GE), which spent billions to become the largest shareholder in Baker Hughes Inc., said Tuesday it plans to “fully separate” its 62.5% interest within three years.

June 27, 2018
BHGE’s Backlog, Orders Climbing While Merger Synergies Cutting Costs

BHGE’s Backlog, Orders Climbing While Merger Synergies Cutting Costs

Less than a year after General Electric Co. (GE) combined its oilfield business with Baker Hughes Inc., which created the second largest oilfield services (OFS) company by revenue, the venture appears to be paying dividends, while the backlog grows and costs decline.

April 20, 2018