Baker Hughes
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| Baker Hughes Incorporated | |
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| Type | Public (NYSE: BHI) |
|---|---|
| Founded | 1987 (merger) |
| Headquarters | Headquarters in Houston. Operates worldwide |
| Key people | Chairman & CEO: Chad Deaton President & COO James Clark |
| Industry | Oil and Gas |
| Products | Oil field services & equipment |
| Revenue | $6.1 billion USD (2004) |
| Employees | > 26,900 worldwide (2004) |
| Slogan | Core Values of Integrity, Teamwork, Performance & Learning |
| Website | BakerHughes.com |
Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger and Halliburton, its main competitors.
Chad Deaton is the CEO.
Baker Hughes Incorporated was formed when Baker International and Hughes Tool Company merged in 1987. Baker Hughes is headquartered in Houston, Texas and operates worldwide with major offices in Aberdeen (UK), Singapore, Dubai, Research & Maintenance Facility in Celle (Germany) and (Lafayette) Louisiana. The company is administered broadly in 4 regions worldwide, namely EARC (Europe, Africa, Russia & Caspian), MEAP (Middle East, Asia-Pacific), NA (North America) and LA (Latin America).
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[edit] History
The Company's part founder was Howard Hughes, Jr., the famous aviation enthusiast (of 'The Aviator' movie fame) who flew the infamous 'Spruce Goose'. Howard Hughes, Jr. formed the Hughes Aircraft company which was eventually splintered into various business units and merged with Raytheon, General Motors & Boeing. Baker International was formed by Reuben C. Baker who introduced the world's first cable tool drilling rig in 1907. Baker soon diversified into making downhole tools to facilitate oil & gas production, set casing and deploy cementing tools (floats).
Until recently, Baker Hughes was co-owner, with Schlumberger, of WesternGeco, the geophysical and seismic data acquisition company (see timeline below).
[edit] Business units
- Baker Atlas - Advanced Wireline well logging and Data Analysis
- Baker Hughes INTEQ - Directional Drilling, MWD/LWD and Surface Logging Systems
- Baker Hughes Drilling Fluids - Drilling fluids technology
- Baker Oil Tools - Completion, fishing, and workover solutions
- Baker Petrolite - Specialty chemicals and Processing
- Hughes Christensen - Drill bits & Drilling optimization
- Centrilift - Electric submersible pump systems
- Production Quest - Production Optimization
- Baker Hughes Business Support Services (BHBSS) - Business support IT, Finance, Payroll
[edit] Acquisitions
(completions)
- Brown Oil Tools
- CTC
- EDECO
- Elder Oil Tools
(drilling fluids)
(mud logging)
(directional drilling and diamond drill bits)
- Eastman Christensen
- Drilex
(measurement while drilling)
- Teleco
(fishing tools and services)
(specialty chemicals)
- Aquaness
- Chemlink
- Petrolite - 1997
(seismic exploration, well logging)
(previously formed by the merger of Dresser Atlas and Western Geophysical)
[edit] Joint venture
In 2000, Baker Hughes and Schlumberger formed a joint venture called Western Geco. The Joint venture was signed for a period of 5 years in November 2000. Western Geco was formed by the merger of Baker Hughes's Western Geophysical and Schlumberger's Geco-Prakla which were the two leading seismic interpretation companies.
In 2006, Baker Hughes announced in a press release that it was selling its 30% share of the Western Geco joint venture to Schlumberger for $2.4 billion in cash. Goldman, Sachs & Co. provided advice on the transaction.
