Baker Hughes

Baker Hughes (NASDAQ: BKR) is a global energy technology company providing innovative solutions for energy and industrial customers in over 120 countries. Co-headquartered in Houston, Texas, and London, UK, the company specializes in oilfield services, equipment, and advanced technologies to support the energy transition, making energy safer, cleaner, and more efficient.

History

Founded through the 1987 merger of Baker Oil Tool Company and Hughes Tool Company, Baker Hughes traces its roots to 1907 and 1908 with groundbreaking innovations like Reuben C. Baker’s casing shoe and Howard R. Hughes Sr.’s two-cone drill bit. Over a century, the company has grown through acquisitions, including Teleco, Exlog, Bently Nevada, and Nuovo Pignone, expanding its portfolio in oilfield services and industrial technology.

Business Segments

Baker Hughes operates through two primary segments:

• Oilfield Services & Equipment (OFSE): Provides drilling, evaluation, completion, production, and intervention services, including subsea systems, flexible pipes, and drilling fluids for oil, gas, and geothermal industries.
• Industrial & Energy Technology (IET): Manufactures gas technology equipment, turbines, compressors, pumps, valves, and digital solutions like Cordant™ for energy and industrial applications, including LNG, hydrogen production, and carbon capture.

Global Presence

With operations in over 120 countries and facilities in Australia, Brazil, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, the UK, and the US, Baker Hughes combines global scale with local expertise. The company employs approximately 57,000 people and supports communities through collaborative partnerships.

Innovation and Technology

Baker Hughes drives energy innovation with a focus on sustainability. Its portfolio includes AI-driven solutions via BakerHughesC3.ai, advanced flame detection for gas turbines, and technologies for flare reduction and carbon capture utilization and storage (CCUS). The company also partners with organizations like Petrobras and ACWA Power to advance green hydrogen and corrosion prevention solutions.

Sustainability Commitment

Committed to net-zero emissions by 2050, Baker Hughes focuses on reducing Scope 1, 2, and 3 greenhouse gas emissions without relying on carbon offsets. Its efforts include decarbonizing oil and gas operations and supporting customers in achieving sustainability goals through technologies like CCUS and flare reduction.

Financial Performance

As of May 30, 2025, Baker Hughes has a market capitalization of $36.7 billion, with a stock price of $37.05 and trailing 12-month revenue of $27.8 billion. The company competes with major players like SLB, Halliburton, and TechnipFMC in the oilfield services and energy technology sectors.

Culture and Workforce

Baker Hughes fosters an inclusive and collaborative culture, supporting career development for its ~57,000 employees. The company achieved 206 Perfect HSE Days in 2024, reflecting its commitment to safety and environmental responsibility.