Oilfield services provider Baker Hughes Co said on Monday it will take a $1.5 billion charge to its first-quarter earnings, write down the value of its oilfield business and slash this year's capital spending by 20%.Oil and gas producers have cut 2020 spending by about 30%…
Bahamas Petroleum Company (BPC) has signed a master services agreement (MSA) with Baker Hughes, as the oil and gas exploration company moves toward drilling its first exploration well in the Bahamas in 2020.In August 2019, following extensive technical discussions and mutual due diligence…
Baker Hughes, C3.ai, and Microsoft Corp. announced an alliance to bring enterprise artificial intelligence (AI) solutions to the energy industry on the Microsoft Azure cloud computing platform.This alliance will enable customers to streamline…
Baker Hughes announced today that Apache Corporation’s North Sea subsidiaries have awarded, through a multi-year frame agreement, a suite of subsea equipment and services including six trees, wellheads and an associated service package. This…
Baker Hughes has officially dropped GE from its name after the industrial conglomerate shed majority ownership in the oilfield services company in September.Formerly Baker Hughes, a GE company, the firm will now be known as Baker Hughes, and…
General Electric is looking to raise up to $3 billion in sale of majority-owned Baker Hughes shares, resulting in a reduction of the U.S industrial conglomerate's stake in the oilfield services provider to less than 50%, Baker Hughes said on Tuesday…
Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector…
General Electric Co is selling a portion of its stake in oilfield services provider Baker Hughes, the U.S. industrial conglomerate said on Tuesday, its latest move to raise cash and repay debt.GE, which bought Baker Hughes in July 2017, has…
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign…
Just months after GE and Baker Hughes completed their high-profile merger in July this year, GE's new CEO John Flannery has told investors on 13 November that the company is looking at its exit options regarding the newly combined business…
GE Oil & Gas and Baker Hughes today (3 July) completed their planned merger, which will create an entity that offers GE’s digital solutions and Baker Hughes domain expertise as oilfield services provider. Source…
Baker Hughes stockholders voted 99% to approve its merger with GE Oil & Gas, the company announced today (30 June). The company says that shares voted at the meeting represent approximately 86% of Baker Hughes' shares outstanding as of the record date for the meeting…
Baker Hughes and GE are one step closer to closing their proposed merger, after reaching an agreement with the US Department of Justice (DOJ), allowing the two companies to complete their proposed transaction under US law. Image from Baker Hughes…
Baker Hughes and General Electric Co. (GE) have announced the executive team that will lead Baker Hughes, a GE Company upon closing of their proposed transaction to combine GE’s Oil & Gas business with Baker Hughes. The combined executive team will be as follows: Lorenzo Simonelli…
Baker Hughes and GE have gained clearance from the European Commission (EU) for the duo’s proposed merger. “The companies remain confident in the value that the combined company will deliver to its customers, employees, shareholders and to the oil and gas industry…
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