Baker Hughes

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More Job Losses Coming To U.S. Shale

With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels an... Wednesday, July 22, 2015

Baker Hughes announces second quarter 2015 results, revenue down 33% year-on-year

Baker Hughes Incorporated (NYSE: BHI) announced today results for the second quarter of 2015. Martin Craighead, Baker Hughes Chairman and Chief Executive Officer, commented: 'Revenue of $4 billion for the second quarter declined 33% year-over-year, outperforming the 36% drop in the global rig count... Tuesday, July 21, 2015

Baker Hughes announces weekly rig counts

Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website. BHI Rig Count: U.S. -6 to 857 rigs U.S. Rig Count is down 6 rigs from last week to 857, with oil rigs down 7 to 638, gas rigs up 1 to 218, and miscellaneous rigs unchanged at 1. U.S. Rig Count is down... Monday, July 20, 2015

Halliburton and Baker Hughes provide update on proposed acquisition

Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) today announced that they have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice pursuant to which both companies have agreed to extend the period for the DOJ's review of Halliburton... Monday, July 13, 2015


Baker Hughes announces June 2015 rig counts

Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for June 2015 was 1,146, down 12 from the 1,158 counted in May 2015, and down 198 from the 1,344 counted in June 2014. The international offshore rig count for June 2015 was 277, down 7 from the 284 counted in May ... Wednesday, July 8, 2015

Statoil awards Baker Hughes onshore contract for integrated drilling services at Johan Sverdrup

Statoil is awarding Baker Hughes Norway the onshore contract for integrated drilling services for Johan Sverdrup. The estimated contract value is NOK 1.5 billion and is valid for six years with a four-year extension option for the entire field life. The service will be provided locally from Stavange... Monday, July 6, 2015

Shale exposed service companies are taking a hit

Low oil prices and lowered activity have made a severe impact on the service companies exposed to North America. Their revenues were down 25% in the first quarter - a much higher decrease than the average of -18% we see on a global basis. Figure 1 shows how the largest service companies in North A... Friday, July 3, 2015

Baker Hughes announces weekly North American rig counts

Baker Hughes Incorporated has posted Weekly Rig Count reports to its Investor Relations website. BHI Rig Count: U.S. +3 to 862 rigs U.S. Rig Count is up 3 rigs from last week to 862, with oil rigs up 12 to 640, gas rigs down 9 to 219, and miscellaneous rigs unchanged at 3. U.S. Rig Count is down ... Friday, July 3, 2015

Independent Oil and Gas provides corporate update

Independent Oil and Gas plc, (AIM: IOG.L), the North Sea focused oil and gas company, is pleased to provide a corporate update to shareholders. Highlights: Seismic Remapping Remapping work over the core Southern North Sea ('SNS') gas portfolio with Baker Hughes RDS has helped remove uncertainties ... Thursday, June 25, 2015

Oh US gas demand, where art thou?

In the United States, natural gas is having quite a year. Year-to-date, Platts unit Bentek Energy data shows natural gas production has averaged 72.4 Bcf/d, a 5.2 Bcf/d, or almost an 8% increase, from a year ago. This growth is impressive itself, but what makes it even more impressive is the growth ... Monday, June 15, 2015

Baker Hughes announces May 2015 rig counts

Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for May 2015 was 1,158, down 44 from the 1,202 counted in April 2015, and down 192 from the 1,350 counted in May 2014. The international offshore rig count for May 2015 was 284, down 16 from the 300 counted in Apri... Friday, June 5, 2015

Independent Oil and Gas announces seismic remapping underway in Southern North Sea

Independent Oil and Gas plc, (AIM:IOG.L), the North Sea focused oil and gas company, is pleased to announce that is has commenced the 3D seismic remapping project over its Southern North Sea gas portfolio on a phased basis, with the first results expected by the end of May. IOG has decided to compl... Tuesday, May 12, 2015

Baker Hughes announces April 2015 rig counts

Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for April 2015 was 1,202, down 49 from the 1,251 counted in March 2015, and down 147 from the 1,349 counted in April 2014. The international offshore rig count for April 2015 was 300, down 16 from the 316 counted i... Thursday, May 7, 2015

The Big Opportunity in US Energy Right Now - and Why

Logistics are a bigger piece of the energy pie than ever before—especially rail. Most energy investors are familiar now with the huge rise in crude-by-rail; getting Canadian and Bakken crude to the east and west coast refineries in the United States. It saved the profit margins for many oil p... Wednesday, April 29, 2015

How did that prediction work out, Nostradamus?

They say never make predictions, especially about the future; and by 'they' I mean just about everyone, the quote is variously attributed to Yogi Berra, Albert Einstein and Dan Qualye, amongst others. Foolishly I ignored that advice and I did make a prediction, but I did have a little edge, I paid ... Thursday, April 23, 2015

Baker Hughes announces first quarter results

Baker Hughes Incorporated (NYSE: BHI) announced today results for the first quarter of 2015. Highlights: 20% decline in revenue compared to the first quarter of 2014 attributed to unfavorable market conditions. GAAP net loss per diluted share of $1.35 for the quarter includes $557 million, or $1.28... Tuesday, April 21, 2015

Quantifying the oversupply of US natural gas

This time a year ago, the United States produced about 66 Bcf/d of natural gas and the national average price of next-day delivered natural gas was $4.59/MMBtu. Today, the US is producing roughly 72 Bcf/d of natural gas and the average national price of next-day delivered gas, as of April 13, was $2... Monday, April 20, 2015
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