Baker Hughes Company (BKR) has been awarded a significant contract by Algeria's state-owned oil company Sonatrach for a gas-boosting project at the Hassi R'Mel field. The massive field, located 550 kilometers south of Algiers, is the largest gas field in Algeria and one of the largest in the world, representing a critical energy supply source for Algeria and Europe. As part of this project, Baker Hughes will provide 20 compression trains to be installed across three gas- boosting stations within Hassi R'Mel ...

ALGIERS, Algeria, May 23, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ:BKR), an energy technology company, announced Thursday it was awarded a major contract from SONATRACH for a gas- boosting project for the Hassi R'Mel gas field in Algeria. The contract is part of a broader order awarded to a consortium between Baker Hughes and Tecnimont, part of technology and engineering group MAIRE. The signing ceremony took place in Algiers in the presence of the three company CEOs: Rachid Hachichi of SONATRACH, Lore ...

ALGIERS, Algeria, May 23, 2024 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday it was awarded a major contract from SONATRACH for a gas- boosting project for the Hassi R'Mel gas field in Algeria. The contract is part of a broader order awarded to a consortium between Baker Hughes and Tecnimont, part of technology and engineering group MAIRE. The signing ceremony took place in Algiers in the presence of the three company CEOs: Rachid Hachichi of SONATRACH, Lor ...

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 oilfi ...

In its weekly release, Baker Hughes Company (BKR) stated that the U.S. rig count was lower 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 Company (BKR) ), a leading energy technology company, has secured a substantial contract to supply gas technology equipment for the third phase of Saudi Arabia’s Master Gas System project. This latest development marks a significant step forward in the Kingdom's efforts to enhance its energy infrastructure and reduce carbon emissions.Advancing Gas Distribution InfrastructureBaker Hughes has been entrusted by Worley, acting on behalf of Aramco, to provide essential equipment for the Master Gas S ...

Key PointsOilfield services companies are in a supercycle that drives long-term value for shareholders.Valuations and yields are attractive relative to the broad market, and distributions are growing. Share repurchases are bringing down the share count and aiding shareholder value. 5 stocks we like better than SchlumbergerThe oilfield services industry is in a supercycle that has yet to play out. However, the Q1 results aligned with expectations and failed to spur individual names to new highs. The takeaway ...

Monty Rakusen/DigitalVision via Getty Images Baker Hughes (NASDAQ:BKR) is well-positioned for the next wave of energy production as global energy interests shift away from a resource mindset to a focus in emissions control. Baker Hughes offers a wide array of services that caters to the shift in the growing demand for natural gas and the gradual shift towards hydrogen fuel. Though Baker Hughes may experience some headwinds as operators turn away from heavy drilling programs to enhanced oil recovery, I d ...

Remaining Performance Obligations ("RPO"): As of March 31, 2024, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $32.7 billion. As of March 31, 2024, OFSE remaining performance obligations totaled $3.4 billion, and IET remaining performance obligations totaled $29.3 billion. (1) The sale of our controls business was completed in April 2023. The following table presents segment operating income through to net income for the Com ...

Thank you. One moment for our next question. Our next question comes from the line of Luke Lemoine from Piper Sandler. Luke Lemoine Hi. Good morning, Lorenzo, Nancy. The IET orders you had in 1Q put you on a nice pathway to hit the midpoint of the annual guide with GTE being the largest component. I'm sure most of the durability resides here. And you talked about some of the LNG awards outlook within GTE. But can you just talk about some of the puts and takes in the annual order guidance for IET? Lorenzo Si ...