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Baker Hughes Company. Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, reservoir consulting, and tubular running services.
At one point, known as BJ Services Company, the company operated in more than 50 countries worldwide. BJ Services generated record revenue of $5.4 billion in fiscal 2008, up 13% from the prior year, and had 18,000 employees. [1] On April 28, 2010, the company was bought by Baker Hughes in a $5.5 billion stock and cash deal.
In October, 2019, GE sold a portion of its 62.5% stake in BHGE, reducing its ownership below 50%, and BHGE was rechristened as Baker Hughes Company (NYSE:BKR). [4] Baker Hughes has positioned itself as an energy technology company. [5] Bently Nevada remained a Baker Hughes Business after GE's sale of its interest in the company. As of 2020 ...
In 2013, he was appointed president of GE's Oil and Gas division, [10] which he ran until the division was merged with Baker Hughes Inc in 2017, becoming Baker Hughes, a GE Company (NYSE:BHGE). [11] He became CEO of the newly formed company, and following GE's divestment from the company in 2019, has continued on as CEO of the independent Baker ...
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Gaffney, Cline & Associates. GaffneyCline is a global consultancy in the energy sector, providing techno-commercial advice to clients that include energy producers, financial institutions, governments, etc. GaffneyCline is an independent wholly-owned subsidiary of Baker Hughes. One of the notable functions of GaffneyCline, along with similar ...
On November 17, 2014, Halliburton and Baker Hughes jointly announced a definitive agreement under which Halliburton will, subject to the conditions set forth in the agreement, acquire Baker Hughes in a stock and cash transaction valued at $34.6 billion. A press release made available on the former's website, as at December 11, 2014 detailed the ...
The company prospered in the 1970s, growing to 3,800 employees and annual sales of over $364 million by the early 1980s. [2] In 2013, Lufkin was acquired by General Electric for $3.3 billion. [3] On June 30, 2020, Lufkin once again became an independent company with Baker Hughes divesting its Rod Lift Systems business.