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Baker Hughes

McDermott International, Inc. (NYSE: MDR) and Baker Hughes, a GE company (NYSE: BHGE), today announced the award of a contract by POSCO DAEWOO Corp. for phase two of the Shwe gas field development offshore Western Myanmar. more

Offshore & Marine

U.S. energy companies this week cut one oil rig, the first reduction in 12 weeks, after drillers started to slow down the rate of additions this month as pipeline constraints put a damper on future production. more

Drilling & Exploration

U.S. energy companies added 26 oil rigs this week, boosting the count to 791, its highest since April 2015. more

Drilling & Exploration

U.S. energy companies this week cut oil rigs for the first time in six weeks in spite of prices rising close to their highest in over two years and drillers starting to boost spending plans for next year. more

Drilling & Exploration

Oil fell on Monday after U.S. shale drillers added more rigs last week, though prices remained in sight of their recent two-year highs thanks to last week’s decision by OPEC and other producers to extend output cuts. more

Drilling & Exploration

Uniquely positioned to drive productivity, lower costs and innovate globally for customers more

Refining/Petrochemical

U.S. energy companies extended their recovery in oil drilling into a seventh month this week as they follow through on plans to add rigs as crude rose to its highest price in over a year. more

Drilling & Exploration

GE and Baker Hughes announced that the companies have entered into an agreement to combine GE’s oil and gas business and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. more

M&A/Investment

General Electric Co, banking on a recovery in oil prices, said on Monday it would merge its oil and gas business with No. 3 oilfield services provider Baker Hughes Inc more

M&A/Investment

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