CoilTrak™ system allows for increased reservoir connectivity through efficient slim-hole multilateral drillingProject strengthens Dubai’s low-carbon energy capabilitiesAward follows major order for Baker Hughes’ Integrated Compressor Line (ICL) units HOUSTON and LONDON, March 26, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday a multi-year contract with Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to provide ...

Core Insights - Baker Hughes has secured a multi-year integrated completions systems contract with Petrobras, aimed at optimizing production in Brazil's deepwater fields [1][5] - The contract will utilize Baker Hughes' advanced completions technology portfolio, including intelligent completions and conventional solutions, to enhance remote operations and multizone control [2][4] - The deployment of new technologies, such as the SureCONTROL Premium interval control valve, will improve reliability and allow real-time responses to well conditions [3][4] Technology and Innovation - Baker Hughes' completions technologies are specifically designed for deepwater, high-pressure wells, ensuring reliability in challenging environments [3] - The company will provide a range of technologies, including SureSENS downhole gauges, monitoring systems, chemical injection systems, and various safety valves [4] - The collaboration with Petrobras emphasizes continual innovation and testing to safely and efficiently develop Brazil's natural resources [3][5] Economic Impact - Baker Hughes has a long-standing role in the development of Brazil's offshore oil and gas fields, contributing to the local economy and strengthening the energy supply chain [5] - The localization strategy of Baker Hughes supports the Brazilian economy while enhancing operational efficiency in energy production [5]

New solutions will support remote operations in deepwater fieldsTechnology allows real-time response to evolving well conditions across multiple zones HOUSTON and LONDON, March 20, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR), an energy technology company, announced Thursday a major, multi-year fully integrated completions systems contract with Petrobras. The award followed an open tender and will leverage Baker Hughes' innovative completions technology portfolio and extensive experience in Brazil to ...

Core Insights - Baker Hughes has received an award from TURBINE-X Energy Inc. for its NovaLT™ gas turbine technology to meet the growing power demand from the data center market [1][2] - The NovaLT™ gas turbine is a multi-fuel solution capable of operating on natural gas, hydrogen blends, and 100% hydrogen, providing flexibility for customers [3] - The partnership with Frontier Infrastructure aims to deliver carbon capture and storage (CCS) and power generation technologies for data centers and industrial clients [1][4] Company Overview - Baker Hughes is an energy technology company with a century of experience, operating in over 120 countries, and focuses on providing innovative solutions for energy and industrial customers [5] - The company offers a diverse portfolio of power solutions, including natural gas, geothermal, hydrogen, and cogeneration technologies, aimed at supporting data center hyperscalers and project developers [4]

Core Viewpoint - Baker Hughes will announce its first quarter results for the period ending March 31, 2025, on April 22, 2025, with a subsequent webcast to discuss these results on April 23, 2025 [1]. Company Information - Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers globally, leveraging over a century of experience and operating in more than 120 countries [3]. - The company focuses on innovative technologies and services aimed at making energy safer, cleaner, and more efficient for both people and the planet [3]. Webcast Access - Listeners can access the webcast by visiting the Baker Hughes investor relations website, where an archived version will also be available after the live event [2]. Contact Information - For investor relations inquiries, Chase Mulvehill can be contacted at +1 346-297-2561 or via email at investor.relations@bakerhughes.com [4]. - For media relations, Adrienne M. Lynch is available at +1 713-906-8407 or media.relations@bakerhughes.com [4].

Core Viewpoint - Baker Hughes and NextDecade Corporation have entered into a framework agreement for the utilization of Baker Hughes' gas turbine and refrigerant compressor technology at the Rio Grande LNG Facility, which is expected to enhance the efficiency and reliability of LNG operations [1][2]. Group 1: Agreement Details - NextDecade plans to use Baker Hughes' Equipment Packages and enter into maintenance service agreements for Trains 4 through 8 at the Rio Grande LNG Facility [1][2]. - The agreement signifies a continuation of the long-standing relationship between Baker Hughes and NextDecade, aimed at supporting increasing energy demand through innovative solutions [2][3]. Group 2: Project Progress - NextDecade is advancing on the commercialization of Rio Grande LNG Trains 4 and 5, with expectations to make positive final investment decisions and commence construction, contingent on governmental approvals and financing [2][3]. - The company is also developing Trains 6 through 8, which are expected to increase total liquefaction capacity by approximately 18 million tonnes per annum once operational [3]. Group 3: Company Backgrounds - Baker Hughes is an energy technology company providing solutions globally, with a focus on making energy safer, cleaner, and more efficient [4]. - NextDecade is committed to delivering reliable, lower carbon energy solutions, focusing on natural gas liquefaction and carbon capture and storage infrastructure, with a potential liquefaction capacity of approximately 48 million tonnes per annum [5].

Group 1: Collaboration and Agreements - Baker Hughes and Woodside Energy have strengthened their collaboration through a new Technology Development Agreement (TDA) aimed at developing small-scale decarbonization solutions leveraging Net Power's platform [1][2] - This initiative builds on a 2022 Memorandum of Understanding (MoU) focused on reducing emissions across the natural gas supply chain and follows a 10-year service frame agreement signed in July 2024 to support Woodside's LNG operations in Australia [2] Group 2: Technology and Innovation - The patented Net Power platform generates electricity using natural gas while capturing nearly all associated carbon dioxide (CO2) emissions, with Baker Hughes holding exclusive rights to the platform's small-scale applications [3] - The TDA will assess the feasibility of scaling Net Power's technology to meet different industrial needs, with plans to incorporate additional development partners [4] Group 3: Industry Commitment and Future Outlook - Woodside's executive vice president emphasized the company's commitment to leveraging advanced carbon capture and utilization technologies in collaboration with Baker Hughes [5] - The partnership is expected to expand Net Power's reach beyond utility-scale projects, highlighting Baker Hughes' growing role in industrial decarbonization and the transition toward cleaner energy solutions [6]

Core Insights - Baker Hughes and Woodside Energy announced a joint initiative to develop a lower carbon power generation technology solution utilizing the Net Power platform, targeting oil and gas, heavy industries, and smaller scale applications [1][2] - The collaboration builds on a 2022 Memorandum of Understanding aimed at decarbonizing the natural gas supply chain, now formalized through a Technology Development Agreement [2][3] - The initiative will assess the feasibility and scalability of the Net Power platform, with plans to involve additional development partners [3][4] Company Overview - Baker Hughes is an energy technology company providing solutions to energy and industrial customers globally, with operations in over 120 countries [6] - Woodside Energy is a global energy company based in Australia, focused on providing reliable and affordable energy [7] Technology Development - The Net Power platform is designed to generate affordable power using natural gas while capturing nearly all carbon dioxide emissions [2] - Baker Hughes is the exclusive provider of the small-scale application of the Net Power platform, with ongoing development and testing at a demonstration facility in Texas [4] - The collaboration aims to leverage combined engineering and carbon capture utilization and storage (CCUS) capabilities to explore lower-carbon emissions power solutions [5]

Core Insights - Baker Hughes and Frontier Infrastructure have formed a strategic partnership to enhance large-scale carbon capture and storage (CCS) and power solutions in the U.S. [1][5] - Frontier is developing the Sweetwater Carbon Storage Hub, which is one of the largest carbon sequestration assets in the U.S., covering nearly 100,000 acres in Wyoming [2][7] - The partnership aims to optimize project execution and increase efficiency in developing CCS and power generation projects [3][7] Company Developments - Baker Hughes will provide technology solutions, including CO₂ compression and well design, to support the SCS Hub and future infrastructure projects [3][7] - Frontier is expanding its infrastructure with 256 megawatts (MW) of gas-fired generation to meet rising energy demands in Wyoming and Texas [4][7] - The integration of gas-fired energy with carbon storage is positioned as a reliable power solution for industrial customers [5][7] Market Context - The partnership addresses the increasing energy demand driven by the rapid expansion of data centers and industrial operations [4][5] - Baker Hughes emphasizes its commitment to supporting decarbonization efforts while meeting energy demands, particularly in the context of AI adoption [5][7] - Frontier Infrastructure is recognized as a leader in low-carbon infrastructure solutions, focusing on scalable carbon storage and power generation [8]

Core Insights - Baker Hughes has appointed Ahmed Moghal as the new CFO, succeeding Nancy Buese, effective immediately [1][2][3] - The company is focused on driving profitable growth and enhancing margins as it enters the next phase of its strategic transformation [2] - Baker Hughes reaffirmed its financial outlook for Q1 and full-year 2025, projecting solid EBITDA growth and a 20% EBITDA margin for its OFSE segment in 2025 and IET segment in 2026 [2] Leadership Changes - Ahmed Moghal has been with Baker Hughes since 2023 as CFO of the Industrial & Energy Technology business and has extensive experience in financial leadership roles [3] - Nancy Buese will transition to a strategic adviser role and depart the company on April 30, 2025 [3] Strategic Focus - The company aims to leverage its IET portfolio, expand in the natural gas and LNG value chain, and enhance growth in new energy and digital businesses [2] - Baker Hughes is committed to returning 60% to 80% of free cash flow to shareholders [2]