today announced adjusted net income (a non-GAAP measure) for the third quarter 2011 of $518 million, or $1.18 per diluted share. This excludes a $214 million tax benefit associated with the reorganization of certain foreign subsidiaries and a $26 million after-tax loss related to the early extinguishment of debt. This compares to $255 million, or $0.59 per [...]
HOUSTON, Oct. 28, 2011 /PRNewswire/ -- Baker Hughes Incorporated chairman and chief executive officer, Chad C. Deaton, announced today that the Baker Hughes Board declared the regular quarterly cash dividend of $0.15 per share of common stock payable November 18, 2011, to holders of record on November 7, 2011.
announced today the opening of a new research and technology center in Rio de Janeiro designed to enable the development of technologies and solutions to unlock the full potential of deep water and pre-salt reservoirs.
'Baker Hughes' new research facility on the CENPES (Centro de Pesquisas Leopoldo Americo Miguez de Mello) campus will open up a new level of collaboration
announced today that the international rig count for September 2011 was 1,174, down 9 from the 1,183 counted in August 2011, and up 54 from the 1,120 counted in September 2010. The international offshore rig count for September 2011 was 304, down 14 from the 318 counted in August 2011 and down 13 from the 317 counted in September 2010.
has introduced the TORXS(TM) system, the only expandable liner hanger system that is installed and released prior to the cement job, which eliminates the risk of the running tools becoming fixed in place during cementing, requiring fishing or well abandonment.
The TORXS system can be used across a broader range of applications than any other liner hanger system, including deepwater, subsalt plays, deviated wells, extended-reach wells and monobore completions.
Wells are often drilled through depleted or problematic formations. To drill through these formations economically, operators need a liner system that can ream through a previously drilled section or drill a new section with the liner itself to avoid time-consuming and costly non-productive time. The TORXS system offers an advanced torsion capability that allows the casing to be worked to depth in these challenging zones.
The TORXS system enables seamless, one-trip, two-stage hanger and packer setting for cemented liner applications. Setting the packer independently mitigates the risk of becoming stuck in wet cement. There is also no need to add retarders that compromise the cement formulation or extend the cement pumping time. Optimizing the cementing job extends the life of the well and reduces the potential for future remediation work.
'We continue to evolve our liner technology to adapt to and overcome the challenges of drilling difficult zones,' says Neil Harrop, president of Completions and Production for Baker Hughes. 'The TORXS system is a cost-effective, safe and reliable method of running and setting a liner hanger that lets operators drill through and isolate challenging lost circulation zones to maximize wellbore integrity and reduce risk.'
Baker Hughes provides reservoir consulting, drilling, formation evaluation, completions, pressure pumping and production products and services to the worldwide oil and gas industry.
announced today that it has scheduled a conference call on Tuesday, November 1, 2011 to discuss results for the third quarter 2011, ending September 30, 2011 at 8:30 a.m. eastern, 7:30 a.m. central. The results are expected to be released on Tuesday, November 1, 2011, before the market opens.
To access the call, which is open to the public, please call the conference
announced today that the international rig count for August 2011 was 1,183, up 33 from the 1,150 counted in July 2011, and up 81 from the 1,102 counted in August 2010. The international offshore rig count for August 2011 was 318, up 11 from the 307 counted in July 2011 and up 11 from the 307 counted in August 2010.
and Verdande Technology AS announced today that a subsidiary of Baker Hughes has acquired a minority equity stake in Verdande Energy AS, a subsidiary of Verdande Technology AS, and will become a user of Verdande Technology's case-based reasoning (CBR) software platform for oil and gas applications.
This CBR technology, called DrillEdge(TM), is a real-time intervention
HOUSTON, Aug. 23, 2011 /PRNewswire/ -- Baker Hughes
announced today that Chad Deaton, chairman and chief executive officer, will present at Barclays Capital CEO Energy-Power Conference in New York, New York, on September 7, 2011, at 9:05 a.m. Eastern time.
Darrell Howard brings 32 years of operating company experience to Baker Hughes
HOUSTON, Aug. 18, 2011 /PRNewswire/ -- Baker Hughes
announced today that Darrell C. Howard has joined the company as President of the Integrated Operations organization. Howard joins Baker Hughes from VICO Indonesia, where he served as Vice President, Technical Support for the BP-Eni joint venture.
'Darrell's combination of technical expertise, project management capabilities, international business experience, and leadership qualities make him the ideal candidate to lead our integrated operations business,' says Derek Mathieson, president of product lines and technology for Baker Hughes. 'In this role, Darrell will apply his in-depth knowledge of the entire oil and gas asset lifecycle to expand Baker Hughes' position in the fast-growing integrated project management market. This is a critical business for our company and I look forward to working closely with Darrell to enhance Baker Hughes' top-tier integrated project management capabilities.'
Howard joined Amoco Corp. following his graduation from the University of Colorado in 1978. During his career with Amoco he held a variety of drilling, completion, and production engineering and management roles. Howard has extensive international experience, including assignments where he worked closely with governments, national oil companies and third-party organizations in the United Kingdom, Norway, the Republic of Congo and Egypt. Immediately prior to his appointment with VICO Indonesia, he spent seven years in various roles with BP in Baku, Azerbaijan and with TNK-BP in Moscow, including Exploration Drilling Manager for the Shah Deniz Caspian gas project.
Baker Hughes provides reservoir consulting, drilling, formation evaluation, completions, pressure pumping and production products and services to the worldwide oil and gas industry.
CONTACTS: Media Teresa Wong, +1.713.439.8110, Relations: teresa.wong@bakerhughes.com Kathy Shirley, +713.439.8135, kathy.shirley@bakerhughes.com Investor Adam Anderson, +1.713.439.8039, Relations: adam.anderson@bakerhughes.com
Terra Resources, PLC, a London, UK based independent oil and gas company listed on the Frankfurt Stock Exchange under the symbol 'T31' ('Terra Resources') has entered into a partnership with Hendon Energy Fund 2011, LP ('Hendon'). Hendon has agreed to partner with Terra Resources in fulfilling its funding commitments, estimated at $90,000,000, for the development of
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