News for Baker Hughes
Nov 14 · 4:02:00 PM · Source: The Wall Street Journal
Data from oil-field services company Baker Hughes indicates that the number of rigs drilling for oil in the U.S. climbed this week, but the gas rig total slipped as producers curbed output in response to low prices.
The number of oil and gas rigs climbed to 1,101, up 23 rigs from the previous week. The number of gas rigs was 728, a decrease of six rigs from last week, while the oil rig count was 361, an increase of 29 rigs. The number of miscellaneous rigs was unchanged at 12 rigs.
The number of gas rigs in use peaked at 1,606 in September 2008. Producers have reduced natural-gas drilling sharply over the past several months in response to falling prices, but the rig count has stabilized in recent weeks as producers bet on colder winter weather and an economic recovery that would spark demand for the fuel.
· Related: Oil
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by Michael Oliveto
Oct 23 · 12:27:00 PM · Source: Reuters
Baker Hughes Inc. announced that it has declared the regular quarterly cash dividend of $0.15 per share of common stock payable November 13, 2009, to holders of record on November 2, 2009.
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by Michael Oliveto
Oct 15 · 11:35:00 AM · Source: Reuters
Baker Hughes and BJ Services Company announced the
receipt of a request from the Antitrust Division of the Department of Justice
for additional information (commonly known as a second request) with respect
to Baker Hughes' proposed merger with BJ Services Company.
Both companies
intend to comply with the request promptly.
· Related: BJ Services
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by Michael Oliveto
Oct 14 · 12:30:00 PM · Source: Business Wire
Baker Hughes, Inc announced the number of rigs searching for oil and gas in the U.S rose for the week ended October 9.
This represents an increase in drilling activity by the producers fueled by the recent run up in commodity prices. The overall picture, though, remains weak, particularly for natural gas, whose inventories have recently hit a new record high of 3.66 trillion cubic feet (Tcf) and is threatening to test the maximum capacity of 3.89 Tcf. The supply picture is expected to reverse in the coming months as the lagging effect of the sharp drop in domestic drilling activity takes hold.
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by Michael Oliveto
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