Baker Hughes Company (or Baker Hughes Company) Baker Hughes Company was founded in 1972. General Electric merged its oil and gas assets with the original Baker Hughes Incorporated (formerly NYSE: BHI) in 2016. It was formed by the merger of two long-established oilfield service and equipment companies Baker and Hughes), formerly known as Baker Hughes, a GE company (formerly NYSE: BHGE), which was changed to its current name in October 2019. headquartered in Houston, Texas, 68,000 full-time employees (2019), is a provider of products and services to the global oil exploration and processing industry large service company, now Baker Hughes, Inc. is the General Electric company (General Electric company) subsidiaries .
Baker Hughes (BHI):
Baker Hughes (Baker Hughes), Halliburton and Schlumberger are the world’s top three oilfield technology service companies. However, in 2014, Halliburton issued an offer to Baker Hughes, and the merger is expected to take place in 2015 After the completion of the second half of the year, the three giants have become two oligarchs (the deadline for the merger is the end of April 2016, if the two parties do not make a decision, the two companies can choose to terminate the transaction at their own discretion. In early May 2016, the deadline After the expiration of the time limit, Baker Hughes and Halliburton announced the termination of the merger agreement).
Baker Hughes provides integrated oilfield products, services and digital solutions worldwide.
The merged Baker Hughes company is divided into 4 departments to operate : Oilfield Services (oilfield services department), Oilfield Equipment (oilfield equipment department), Turbomachinery & Process Solutions (turbine machinery and processing solutions department), Digital Solutions (digital solutions) Program).
- Oilfield Services-provides drilling, cable, evaluation, completion, production and intervention services; as well as drilling and completion fluids, completion tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pump systems, and oil and gas Natural gas and oilfield and industrial chemicals serviced by oilfield service companies.
- Oilfield Equipment-design and manufacture products and services, including pressure control equipment and services, subsea production systems and services, drilling equipment and flexible pipeline systems; and onshore and offshore drilling and production systems and equipment for floating production platforms, And provide a series of services related to onshore and offshore drilling activities.
- Turbomachinery & Process Solutions-provides equipment and related services for mechanical drive, compression and power generation applications in the oil and gas industry. Its product portfolio includes drives, compressors and turnkey solutions; as well as pumps, valves, compressed natural gas and small-scale LNG solutions. The department serves upstream, midstream, onshore and offshore, industrial, engineering, procurement and construction companies.
- Digital Solutions——Provide sensor-based measurement, non-destructive testing and inspection, turbine, generator and factory control and condition monitoring, as well as pipeline integrity solutions for a range of industries such as oil and gas, power generation, aerospace, metal and transport. It provides services through direct and indirect channels.
The Baker Hughes (BHI) companies and businesses before the merger:
Baker Hughes has a wide range of oilfield production services. The company’s purpose is to improve the efficiency of oil industry operations and increase the ultimate recovery rate of oil and gas reservoirs. Mainly engaged in the following services: 1) drilling and formation evaluation; 2) completion services; 3) production management; 4) enterprise solutions.
Through its seven oilfield service companies, the company provides various products and services for drilling, well completion and oil and gas well production.
- Hughes Christensen Company (HCC): is a manufacturer and seller of drill bits for the world’s oil, natural gas and geothermal industries. Using computer design, world-class testing equipment and advanced manufacturing technology, we develop and produce drill bits with excellent performance. HCC product series include: tri-cone bits and fixed cutting edge (diamond) bits, super tri-cone bits series, diamond bits, submerged-cast diamond bits, etc.
- Baker oil Tools (BOT) company: Provides well completion, workover and fishing equipment services. Specialized research to provide solutions to the life of oil wells in order to help users increase oil recovery and reduce costs. It can also provide packer system downhole fishing equipment, liner hanger, maintenance tools and underground safety system.
- Baker Atlas Company: Engaged in downhole petrophysical and geophysical data acquisition, processing and analysis services, including open hole and cased hole logging, perforation and pipe recovery, and has a geoscience center engaged in formation evaluation, geosteering and reservoir description .
- Baker Petrolite Company: is a chemical company that produces oilfield chemicals and provides services for drilling, oil well production enhancement measures, oil production and pipeline transportation. It also provides specialty chemicals for oil refining, petrochemical, chemical and other industries.
- Baker Hughes INTEQ Company: Provides data communication, data management, expert services, drilling and formation evaluation technologies and services; provides directional drilling, rotary steering technology, and drilling fluid systems.
- Bird Machine Company: Provides solid/liquid separation equipment for chemical, mining, municipal, industrial and pharmaceutical, food, and its products include: continuous centrifuges, filters, basket centrifuges, filter presses, dryers and others Processing equipment.
- Centrilift Company: Leading in the world in terms of oilfield electric submersible pump system and downhole oil-water separation technology. All the key components of ESP system can be manufactured, including special armored cables and variable speed motor controllers designed for oilfield applications.
Baker Hughes (BHI) History:
- In 1907, Reuben C. Baker invented the casing shoe. This revolutionary invention advanced the technology of punch drilling.
- In 1909 Howard R. Hughes, Sr invented the first roller cone bit in drilling history.
- Baker International merged with Hughes Tool Company in 1987 to form Baker Hughes.
- Since then, Baker Hughes has acquired and integrated a series of oilfield technology companies, including: Brown Oil Tools, CTC, EDECO, Elder Oil Tools (completion services); Milchem and Newpark (drilling fluid); EXLOG (mud logging); Eastman Christensen and Drilex (directional well drilling and drill bits); Teleco (logging while drilling); Tri-State and Wilson (fishing tools and services); Centrilift (artificial lift); Aquaness, Chemlink and Petrolite (s chemical agents); Western Atlas (seismic exploration and logging).
- In 2014, Baker Hughes acquired Perfomix, a company that develops oilfield data transmission and analysis software, which enhanced Baker Hughes’ competitiveness in tool integration, real-time data monitoring and analysis of modern, visualization, and standardized platforms.
- On November 17, 2014, the oil service provider Halliburton announced that it would acquire Baker Hughes for US$34.6 billion. That is, Halliburton would acquire Baker Hughes at a price of US$78.62 per share. The payment method would be cash plus Stocks, this transaction is expected to be completed in the second half of 2015. (The deadline for the merger is the end of April 2016. If the parties do not make a decision, the two companies can choose to terminate the transaction. In early May 2016, after the deadline expires, Baker Hughes and Halliburton announced the termination of the merger agreement).
- In October 2016, General Electric announced that it would acquire Baker Hughes and merge its oil and gas business with BHI. GE and Baker Hughes will hold 62.5% and 37.5% of the combined company, respectively. At the same time (split before acquisition by GE), BHI split the North America Land Pressure Pumping division and established a new BJ Services Company, which merged with ALLIED Services and ALTCEM.