BKR

Baker Hughes Company (BKR) Profile for Oil Projects

Company Overview Baker Hughes Company is a global energy technology company co-headquartered in Houston, Texas, and London, UK. It is one of the world's largest oil field services, industrial, and energy technology companies, providing a wide range of products and services to the oil and gas industry, as well as other energy and industrial applications.

Segments and Operations

Baker Hughes operates through two primary segments:

Oilfield Services & Equipment (OFSE)

• This segment designs and manufactures products and provides related services for onshore and offshore oilfield operations. Key areas include:
  • Exploration, appraisal, development, production, rejuvenation, and decommissioning of wells.
  • Drilling services, drill bits, and drilling and completions fluids.
  • Completions, intervention, measurements, pressure pumping, and wireline services.
  • Artificial lift systems, oilfield and industrial chemicals, subsea projects and services, flexible pipe systems, and surface pressure control systems.
  • Integrated well services and solutions.

Industrial & Energy Technology (IET)

• This segment provides technology solutions and services for mechanical-drive, compression, and power-generation applications across various energy sectors, including:
  • Oil and gas
  • Liquefied natural gas (LNG) operations
  • Downstream refining and petrochemical markets
  • Lower carbon solutions to broader energy and industrial sectors.
  • The segment also includes gas technology equipment, flow control, turnkey solutions, and services related to climate change, such as carbon capture, hydrogen production, and emissions management.

Integrated Well Services (IWS) Baker Hughes offers comprehensive Integrated Well Services (IWS) to optimize project performance and value. Key aspects of IWS include:

• Project Execution and Cost Management: Leveraging project execution expertise to reduce total ownership costs and ensure safety through a strong commitment to health, safety, and environment (HSE).
• Boosting Efficiency and Repeatability: Executing operations with a focus on lean operations, teamwork, and ongoing technology advancement to achieve consistent well delivery and operational efficiency.
• Digitalization and Automation: Utilizing real-time operations, project optimization, remote monitoring, and management to enhance well construction, production, and maintenance scheduling. This includes the adoption of artificial intelligence (AI) and digital automation tools.
• Flexible Commercial Models: Developing commercial models that address commercial and operational risks, providing cost-efficient and effective program solutions tailored to specific operational goals.

Global Presence and Facilities Baker Hughes operates in over 120 countries with facilities in various locations including Australia, Brazil, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, the United Kingdom, and the United States.

Recent Developments and Acquisitions

• Compact Carbon Capture: Acquired in November 2020, this company develops solvent-based carbon capture patents.
• Joint Venture with Aramco: Established in December 2020 to create a non-metallic materials company called Novel Non-Metallic Solutions Manufacturing.
• ARMS Reliability: Acquired in 2021, providing advisory services and software to several industries.
• SRI International: Acquired a license for the use of mixed-salt process technology for flue gas carbon capture in March 2021.

Sustainability and Decarbonization Efforts Baker Hughes is committed to reducing emissions and innovating new technologies to drive cleaner energy. The company develops and deploys advanced technologies to serve energy and industrial companies, focusing on efficiency, reliability, and sustainability. This includes a comprehensive suite of Carbon Capture, Utilization, and Storage (CCUS) solutions and investments in the future decarbonization of the energy system.

Leadership and Headquarters

• Headquarters: 575 North Dairy Ashford Road, Suite 100, Houston, TX 77079-1121, USA.
• CEO: Lorenzo Simonelli.
• Employees: Approximately 57,000 full-time employees.

Financial and Market Information

• Stock Listing: NASDAQ under the ticker symbol BKR.
• Recent Financial Performance: Baker Hughes has reported earnings that include Non-GAAP EPS and revenue figures, with recent quarters showing a mix of beating and missing analyst expectations.

Baker Hughes' extensive portfolio, global presence, and commitment to innovation and sustainability position it as a leading provider of oilfield products, services, and digital solutions, making it a significant player in the energy and industrial sectors.