Contract extension for two stimulation vessels supports offshore operations in Brazil’s post and pre-salt fieldsAward reinforces Baker Hughes’ Mature Assets Solutions strategy to deliver greater customer value for enhanced brownfield recovery HOUSTON and LONDON, Sept. 17, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday a multi-year agreement with Petrobras to extend the deployment of the Blue Marlin and Blue Orca stimulation vessels, supporting optimiza ...

Core Insights - Baker Hughes is showcasing its latest technology, the LM9000 turbine, which is designed for high efficiency in power generation and LNG liquefaction [2][3] - The LM9000 has been well-received in the market due to its efficiency, particularly as US LNG exports grow [3][5] - Baker Hughes provides critical technology for transforming natural gas into liquefied natural gas (LNG), which is essential for global LNG producers [5] Company Positioning - Baker Hughes plays a vital role in the LNG supply chain by supplying liquefaction trains that can operate on natural gas or electricity [5] - The company has a diverse portfolio that includes geothermal energy, with recent announcements of significant projects in enhanced geothermal capabilities [9][10] - The company emphasizes its long-term infrastructure projects, which can last up to 30 years, highlighting the durability and aftermarket potential of its offerings [12] Market Perception - Analysts have a wide price target range for Baker Hughes stock, from $45 to $60, indicating a potential upside of over 10% from current levels [11] - There is a belief that Wall Street may not fully appreciate the company's diverse capabilities beyond traditional energy sectors, such as geothermal and data center solutions [9][11]

Core Insights - Baker Hughes Company (BKR) has secured a contract from Turkish Petroleum (TPAO) and the Turkish Petroleum Offshore Technology Centre (TP-OTC) for the development of Phase 3 of the Sakarya gas field, focusing on subsea production and intelligent completion systems [1][4] Group 1: Contract Details - BKR will supply deepwater horizontal tree systems and related subsea equipment designed for operations at water depths of 6,500-7,200 feet, enhancing offshore production efficiency [2][3] - The contract includes advanced upper and lower completions systems that will improve gas production efficiency by enabling multizonal control of the reservoir [3] Group 2: Importance to Turkey's Energy Sector - The Sakarya gas field is a crucial asset for Turkey's energy sector, and BKR's expertise in subsea technologies is vital for increasing output from the field [4] - BKR has been involved with TPAO and TP-OTC since the inception of the Sakarya gas field development in 2022, indicating a long-term partnership [4] Group 3: Technology Utilization - A comprehensive range of BKR's completion technologies, including InForceTM HCMTM-A interval control valves and SureSENSTM QPT ELITE gauges, will be utilized to enhance engineering and operational efficiencies in the gas field [4]

Core Viewpoint - Baker Hughes has been awarded a contract by Bechtel Energy to supply main liquefaction equipment for Train 4 of NextDecade's Rio Grande LNG Facility, enhancing the facility's LNG production capacity and supporting sustainable energy development [1][5]. Group 1: Contract Details - The award includes the supply of two Frame 7 gas turbines and six centrifugal compressors, replicating technology solutions provided for the first three LNG trains [2][5]. - The additional LNG capacity supported by this order is approximately 6 million tons per annum (MTPA) [2][5]. Group 2: Company Statements - Bechtel's general manager for LNG business highlighted Baker Hughes' reliable technology and expertise as key factors in their selection for the project [3]. - Baker Hughes expressed pride in continuing collaboration with Bechtel and NextDecade, emphasizing the importance of the Rio Grande LNG project for global energy security and sustainability [3]. Group 3: Company Background - Baker Hughes is an energy technology company with over a century of experience, operating in more than 120 countries, focusing on making energy safer, cleaner, and more efficient [4].

Core Insights - Baker Hughes has received a significant contract from Turkish Petroleum (TPAO) and Turkish Petroleum Offshore Technology Center (TP-OTC) to supply subsea production and intelligent completion systems for the Sakarya Gas Field Phase 3 [1][2] Group 1: Project Details - The agreement includes the provision of deepwater horizontal tree systems and associated subsea structures and control systems for production at depths ranging from 6,500 to 7,200 feet [2][4] - Baker Hughes will integrate advanced completions technologies such as InForce HCMTM-A interval control valves and SureTREAT chemical injection valves to enhance operational efficiencies [4] Group 2: Strategic Importance - The development of the Sakarya gas fields is pivotal for transforming Turkey's energy sector, contributing to a more prosperous and secure future for the country [3] - Baker Hughes has been collaborating with TPAO and TP-OTC since the project's inception in 2022, focusing on reservoir and technology evaluations for the unique subsurface geology of the field [3] Group 3: Timeline and Execution - Deliveries and execution for the Sakarya Gas Field Phase 3 are set to commence in late 2025 [4]

U.S. oilfield services firm Baker Hughes is collaborating with Controlled Thermal Resources in California to develop one of the world's largest single geothermal power projects, with plans to market the electricity to data centers, the companies said on Tuesday. ...

Market Trends & Industry Dynamics - Energy demand is increasing, positioning companies focused on energy and industrial technology favorably [2] - Short-term volatility exists due to WTI and Brent fluctuations, influenced by OPEC barrels [3] - The industry is in the age of gas, with natural gas becoming a greater part of the energy mix and a key focus for Baker Hughes, especially regarding LNG exports [7] - A new normal is evolving in rig operations due to technology advancements and increased rig productivity, making a return to old highs unlikely [13] Company Strategy & Performance - Baker Hughes is diversifying into more stable areas to create future value, moving away from secular cyclical trends [5][6] - Baker Hughes is more focused on natural gas than oil in terms of services and technology provided [8] - The acquisition of Chart for over $9 billion is a strategic move to provide equipment and services in the energy space and diversify into other industrial sectors [8][9] - Baker Hughes expects $1.5 billion in orders over one to three years for the data center business, having already announced $650 million in the first half of the year [14] Technology & Innovation - AI is playing a role in productivity and efficiency, enhancing digital capabilities and increasing equipment uptime [11][12] - Digital solutions are increasing equipment uptime by anticipating and predicting downtime [12]

Core Insights - Baker Hughes Company (BKR) has secured a significant contract from Fervo Energy to design and deliver advanced power generation equipment for the Cape Station Phase II geothermal project in Utah, marking a pivotal advancement in geothermal development in the U.S. and emphasizing the increasing importance of energy technology in providing reliable, clean power [1][4]. Group 1: Project Details - Under the contract, Baker Hughes will supply equipment for five 60-megawatt Organic Rankine Cycle power plants, which will collectively generate approximately 300 megawatts of renewable baseload power, sufficient to power over 180,000 U.S. homes [2][10]. - The Cape Station project is ambitious, with Phase I expected to deliver 100 MW of clean baseload power by 2026 and Phase II adding another 400 MW by 2028, ultimately demonstrating the scalability and integration of geothermal energy into the U.S. energy mix [7]. Group 2: Technology and Innovation - The new facilities will utilize Enhanced Geothermal Systems (EGS), a technology developed by Fervo that employs advanced drilling and subsurface techniques to harness clean geothermal energy at scale, with Baker Hughes' equipment integrated into this system for optimized long-term power generation [3][6]. - Baker Hughes views geothermal power as a crucial element for a sustainable energy future, leveraging its technology portfolio to support lower-carbon solutions amid rising global power demand [6][8]. Group 3: Partnership and Growth - This contract builds on Baker Hughes' previous collaboration with Fervo Energy, which included providing subsurface drilling and production technologies, and represents a continuation of their partnership aimed at developing the Cape Station complex, which has the potential for up to 2 gigawatts of renewable capacity [5][10]. - The announcement highlights Baker Hughes' expanding role in the renewable energy sector, transitioning from traditional oilfield services to comprehensive clean energy technology solutions [8].

Core Insights - Baker Hughes has undergone a significant transformation since the merger with GE Oil & Gas in 2017, focusing on reshaping its portfolio towards gas infrastructure and moving away from upstream activities [1] - The company aims to create a new culture centered around execution, consistency, and accountability, which is considered a challenging endeavor in the industry [1] Company Overview - The transformation of Baker Hughes is described as unprecedented in the sector, highlighting the company's strategic shift and operational changes [1] - Lorenzo Simonelli, the key figure behind this transformation, is set to present further insights into the company's direction and strategies [2]

Financial Data and Key Metrics Changes - Baker Hughes Company has nearly doubled EBITDA over the past five years, supported by the faster-growing Industrial & Energy Technology (IET) segment, which is expected to account for 48% of total revenues this year [6][8] - The company has achieved almost 600 basis points of margin expansion since the start of its transformation [6][10] - Baker Hughes is targeting total company margins of 20% by 2028, an increase of nearly 300 basis points from the 2025 implied guidance [17][19] Business Line Data and Key Metrics Changes - The Oilfield Services & Equipment (OFSE) segment has seen a margin increase of more than 300 basis points during Horizon One, reflecting simplification of the operating structure and solid commercial success [10][11] - IET margins are expected to be above 18% in 2025, also more than 300 basis points higher since the start of Horizon One [10][11] - The company has booked over $40 billion of IET orders, including $3.8 billion in new energy [8][18] Market Data and Key Metrics Changes - Over 70% of OFSE revenue is generated internationally, with offshore contributing approximately 40% of segment revenue [4][5] - The company is positioned to benefit from secular growth markets such as LNG, gas infrastructure, data centers, hydrogen, geothermal, and clean power [5][6] Company Strategy and Development Direction - The Free Horizon Strategy aims to transform Baker Hughes into a differentiated energy and industrial technology company, focusing on sustained growth and durable earnings [2][3] - Horizon Two (2026-2028) will focus on scaling profitability, deepening the industrial footprint, and leveraging AI and digital technologies [8][9] - The recent acquisition of Chart Industries is expected to accelerate strategic progress and enhance capabilities across energy and industrial applications [3][20] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for LNG and gas infrastructure will continue to grow, providing a positive outlook for the company's order visibility [26] - The company is confident in achieving at least $325 million in cost synergies from the integration of Chart Industries [22][28] - The advent of AI is seen as a game-changer, driving productivity and energy consumption, reinforcing the belief that natural gas will play a central role in the energy mix [24] Other Important Information - Baker Hughes has generated more than $2.5 billion in cash proceeds from strategic actions since the merger in 2017 [16] - The company is targeting to raise at least $1 billion from non-core asset sales to achieve leverage targets [19] Q&A Session Summary Question: What are the components of the $40 billion IET orders over the next three years? - Management indicated that there are several end markets with growth potential, including LNG, data centers, and gas infrastructure, which support the confidence in achieving the $40 billion target [25][26] Question: How did the company achieve a 40% increase in capacity in GTE with the same footprint? - The increase was attributed to the application of the Baker Hughes Business System, which has allowed for greater efficiency and productivity without significant capital expenditure [27] Question: Is improving efficiency at Chart Industries a key driver for the acquisition? - Yes, management sees significant opportunities to enhance margin outlook at Chart through the application of the Baker Hughes Business System [28]