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Baker Hughes, a GE company Class A Common Stock, also called Baker Hughes, is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the following four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS) and Digital Solutions (DS). Read More The OFS segment provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production, and intervention. The OFE segment provides a broad portfolio of products and services required to facilitate the safe and reliable flow of hydrocarbons from the subsea wellhead to the surface production facilities. The TPS segment provides equipment and related services for mechanical-drive, compression and power-generation applications. The DS segment provides operating technologies helping to improve the health, productivity, and safety of asset intensive industries and enable the Industrial Internet of Things. The company was founded on October 28, 2016 and is headquartered in Houston, TX.
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Oil and Gas
Baker Hughes data show U.S. oil-rig count down for a 5th straight week
Baker Hughes BHGE, -4.60% on Friday reported that the number of active U.S. rigs drilling for oil fell by nine to 824 this week. That followed four consecutive weeks of declines, with last week's figure down by just 1. The total active U.S. rig count also declined by 10 to 1,016, according to Baker Hughes. May West Texas Intermediate crude CLK9, -1.77% was down $1.35, or 2.3%, at $58.63 a barrel from Thursday's finish. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. ...
UPDATE 1-U.S. oil drillers cut rigs for fifth week in a row -Baker Hughes
(Adds rig count in Permian basin) March 22 (Reuters) - U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output. Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, General Electric Co’s Baker Hughes energy services firm said i...
Expected Apr 22, Pre-Market