Baker Hughes is an American oilfield services company that provides solutions for oil and gas operators to make the most of their reservoirs.
It is based in Houston, Texas.
The company focuses on lowering costs, reducing risk and improving productivity for the oil and gas industry via high-performance drilling, evaluation, completions and production technology and services, integrated operations and reservoir consulting.
It is a leader in tricone and PDC drill bit, ream-while-drilling and casing drilling technology and evaluating geologic formations to place wells in the most productive zones within a reservoir.
Baker Hughes was founded in 1987 following a merger between Baker International and Hughes Tool Company.
The company has 62,000 employees in 80 countries and nine regional and 19 geomarket management teams. Its main regions are: U.S. Land, Gulf of Mexico, Canada, Latin America, Europe, Africa, Russia and Caspian, Middle East and Asia Pacific.
Its oilfield products and services fall into one of two categories, Drilling and Evaluation or Completion and Production:
Drilling and Evaluation: Drill Bits (includes Tricone™, PDC or “diamond”, and Kymera™ hybrid drill bits), Drilling Services, Wireline Services, and Drilling and Completion Fluids.
Completion and Production: Completion Systems, Wellbore Intervention, Intelligent Production Systems, Artificial Lift (electric submersible pump systems), Upstream Chemicals, Pressure Pumping (cementing, stimulation, including hydraulic fracturing, and coil tubing services).
The company offers other services via its Integrated Operations group, which includes: project management, well site supervision, well construction, intervention, third party contractor management, procurement and rig management.
Baker Hughes is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘BHI’.
- Chairman and CEO: Martin S. Craighead
- Industry: Oil/Gas
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: BHI
- S&P 500 Component
- Founded: 1987
- Revenue: $24.551 billion USD (2014)
- Net income: $1,731 million USD (2014)
- Diluted earnings per share: $3.92 USD (2014)
- Employees: 62,000 (2014)
- Company head office: 2929 Allen Parkway, Suite 2100, Houston, Texas 77019-2118, USA
- Website: http://www.bakerhughes.com/
- Company contact number: +1.713.439.8600
- Investor relations contact number: +1.713.439.8039
Baker Hughes Financial Results
|Operating data (in $ millions)||2014||2013|
|– Total revenue||$24,551||$22,364|
|Cost of sales||$6,294||$5,932|
|Cost of services||$13,452||$12,621|
|Research and engineering||$613||$556|
|Marketing, general and administrative||$1,271||$1,306|
|– Total costs and expenses||$21,692||$20,415|
|Income before income taxes||$2,627||$1,715|
|Net income attributable to noncontrolling interests||$(12)||$(7)|
|Net income attributable to Baker Hughes||$1,719||$1,096|
|Common share data (in $)|
|Basic earnings (loss) per share||$3.93||$2.47|
|Diluted earnings (loss) per share||$3.92||$2.47|
|Balance sheet data (in $ millions)|
|Long term debt||$3,913||$3,882|
|Cash flow data (in $ millions)|
|Net cash flows provided by operating activities||$2,953||$3,161|
|Net cash flows used in investing activities||$(1,659)||$(1,663)|
|Net cash flows (used in) provided by financing activities||$(939)||$(1,103)|
|Cash and cash equivalents at beginning of year||$1,399||$1,015|
|Cash and cash equivalents at end of year||$1,740||$1,399|
Source: “Baker Hughes Form 10-K 2014”