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In its weekly release, Baker Hughes Company (BKR) stated that the U.S. rig count was higher than the prior week’s figure. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the week-ago figure indicates the demand trajectory for the company’s oilfie ...

Baker Hughes’ (BKR) board of directors announced an increase in quarterly cash dividends. The raised quarterly dividend of 21 cents per share of Class A common stock is payable on Feb 23, to the common stockholders of record as of Feb 13.This dividend hike reflects a 5% sequential and an 11% year-over-year increase. This reflects the oilfield service player’s strong commitment to returning capital to shareholders.Remarkably, Baker Hughes has plans to fund its dividend payment through operating cashflows. Th ...

Shares of oil and gas equipment and services company Baker Hughes (BKR 1.26%) declined 16.6% in January, according to data from S&P Global Market Intelligence. The decline comes as the company's fourth-quarter 2023 earnings and 2024 guidance confirmed some of the near-term headwinds in its business. In a nutshell, it's not that Baker Hughes isn't set to grow again this year. It is. But recent events have tempered its 2024 growth outlook.Baker Hughes' near-term headwindsThe company's troubles in the short te ...

Other Non-Operating Income (Loss), Net In 2023, we incurred net interest expense of $216 million, which includes interest income of $84 million. Net interest expense decreased $36 million compared to 2022, primarily driven by higher interest income. In 2021, as part of the Organization for Economic Co-operation and Development's ("OECD") Inclusive Framework, 140 member countries agreed to the implementation of the Pillar Two Global Minimum Tax ("Pillar Two") of 15%. The OECD continues to release additional ...

Baker Hughes Company (BKR) ), a leading energy technology company, announced major achievements and collaborations during its 24th Annual Meeting in Florence, Italy, on Jan 29. The company highlighted milestones in advancing its hydrogen-enabling technologies, with a focus on testing facilities, project execution and strategic partnerships.New Hydrogen Testing Facility UnveiledBaker Hughes unveiled a new hydrogen testing facility dedicated to the validation of its NovaLT industrial turbines, capable of runn ...

New hydrogen testing facility at Florence, Italy, manufacturing site unveiled as part of the company's strategy to further support the deployment of hydrogen-ready technologies, such as the optimized NovaLT™16 turbine delivered to Air Products' Net-Zero Hydrogen Energy Complex in EdmontonProgress follows delivery of advanced hydrogen compression technologies for NEOM green hydrogen complex in Saudi Arabia, as well as new collaborations in the hydrogen sector with HyET and Green Energy Park FLORENCE, Italy, ...

The Biden administration’s announcement Friday that it’s pausing liquefied natural gas export approvals sparked political backlash, drew cheers from climate activists and stoked uncertainty in energy markets, but is unlikely to see the U.S. give up its title as the world’s top LNG exporter.The U.S. will delay its decisions on new LNG exports to non-free trade agreement countries, allowing time for the Energy Department to update the underlying analyses for LNG export authorizations, the White House said. Th ...

Baker Hughes Company (BKR) projected a decrease in drilling and well completion spending in North America for 2024.The forecast comes amid ongoing volatility in commodity prices, significantly impacting the industry’s dynamics.Lorenzo Simonelli, the CEO of Baker Hughes, expressed that there is a continued lack of momentum in North American activity. He anticipates no substantial improvement in activity during the initial half of 2024. This indicates the company’s cautious stance in response to the growing u ...

The oil pricing environment continues to be favorable for upstream activities, thereby brightening the outlook for oilfield service companies, at least for 2024. Three companies from the oilfield space that are well poised to gain are Halliburton Company (HAL) , SLB (SLB) and Baker Hughes Company (BKR) .Oil Price Still HighWest Texas Intermediate crude price is trading at more than $75 per barrel, which is highly favorable for exploration and production activities. Also, in its short-term energy outlook, th ...