Baker Hughes

Background

Baker Hughes Co. manufactures drilling and production equipment as well as providing drilling, intervention, and processing field services with operates in over 120 countries. Subsidiaries include Centrilft, Petrolite, and Nuovo Pignone. and Operations are organized into four business units: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). Research centers are located in Houston; Oklahoma City, Oklahoma; Dhahran, Saudi Arabia; and Rio de Janeiro. Common shares listed on the NYSE (BKR) exchange. The company traces its name to the merger of Baker International and Hughes Tool.

Baker Hughes was formed through the 1987 merger of completion tool company Baker International (formerly Baker Oil Tools) and drill bit company Hughes Tool. Directional drilling and drill bit company Eastman Christensen was acquired in 1990, creating the Hughes Christensen division. Directional drilling company Teleco was acquired from Sonat and merged with East Whipstock directional drilling, Milpark drilling fluids, Oil Base drilling fluids, Exlog mud logging, and others to create the Inteq division.

General Electric (GE) initially entered the oil and gas industry with the acquisition of Italian compressor maker Nuovo Pignone in 1994. Baker Hughes acquired chemical company Petrolite in 1997 as well as Drilex which became part of Inteq. Also in 1997, electric submersible pump manufacturer Oil Dynamics was purchased from Franklin Electric to form the Centrilift division of Baker Hughes. In 1998, Western Atlas was acquired including what became the Baker Atlas wireline and perforating division. GE purchased condition monitoring instrumentation company Bentley Nevada in 2002. British drilling and wireline equipment company Sondex was acquired by GE in 2007 as well as drilling, completion, and subsea equipment manufacturer VetcoGray. Pressure control equipment manufacturer Hydril was added in 2008.

In 2011, GE added surface wellhead capability with the acquisition of John Wood's well support division, flexible riser and flowline manufacturer Wellstream, and compression, valve, piping, and control company Dresser Incorporated. 2012 GE acquisitions included Norway-based flow measurement sensor company Presens and subsea acoustic monitoring company Naxys. GE acquired artificial lift company Lufkin in 2013 as well as Liquefied Natural Gas (LNG) technology specialist Salof as well as epicyclic gear specialist Allen Gears. In 2014, Cameron's reciprocating compression division was acquired. Subsea intervention specialist Advantec was acquired in 2015. With the Baker Hughes acquisition in 2017 came the reservoir modeling company JewelSuite. GE sold reduced its interest in the company below 50% in 2019.

Company Details

Vertical:

Sector:

Control:

Headquarters:

Investors:

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Operated Facilities

Well Construction

14
4
16
26
1
11
1

Well Servicing

4
4
38
16
2
2
22
10
9

Oil & Gas Production

4
12
4
26

Energy Transfer

6
2
1

Equity Holdings

Oil & Gas Extraction

100%

Well Servicing

46.7%

Process Control

100%
100%

Fluid Processing

100%

Leaders

CEO & Chairman Not Available