Key Developments: Baker Hughes Inc (BHI)
47.17USD
24 May 2013
$0.10 (+0.21%)
$47.07
$46.70
$47.27
$46.25
1,980,862
3,541,793
$50.97
$37.08
Latest Key Developments (Source: Significant Developments)
Baker Hughes Inc. Acquires Equity Stake In Verdande Energy
Baker Hughes Inc. and Verdande Technology AS announced that a subsidiary of Baker Hughes has acquired a minority equity stake in Verdande Energy AS, a subsidiary of Verdande Technology AS, and will become a user of Verdande Technology's case-based reasoning (CBR) software platform for oil and gas applications. Full Article
Baker Hughes Inc. Announces Pricing of $750 Million of Senior Notes
Baker Hughes Inc. announced the pricing of $750 million aggregate principal amount of its 3.20% senior notes due August 15, 2021. Interest is payable on February 15 and August 15 of each year. The first interest payment will be made on February 15, 2012, and will consist of interest from closing to that date. The offering is expected to close on August 17, 2011, subject to customary closing conditions. The Company intends to use the net proceeds of the offering to redeem all of its outstanding 6.50% senior notes due 2013, of which an aggregate principal amount of $500 million is currently outstanding. The Company will use any remaining net proceeds for general corporate purposes, which could include funding ongoing operations, business acquisitions and repurchases of the Company's common stock. The net proceeds of the offering may be invested temporarily in short-term marketable securities pending such usages. Full Article
Baker Hughes Inc. Commences Private Placement Of Senior Notes
Baker Hughes Inc. announced the commencement of a private placement to eligible purchasers of senior unsecured notes. The Company intends to use the net proceeds of the offering to redeem all of its outstanding 6.50% senior notes due 2013, of which an aggregate principal amount of $500 million is currently outstanding. The Company will use any remaining net proceeds for general corporate purposes, which could include funding ongoing operations, business acquisitions and repurchases of the Company's common stock. The net proceeds of the offering may be invested temporarily in short-term marketable securities pending such usages. Full Article
Baker Hughes Inc. Secures Iraq Contract
Baker Hughes Inc. announced that LUKOIL has awarded a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq, 50 kilometers (31 miles) west of Basra. Under the terms of the contract, Baker Hughes will provide engineering and project management for the turnkey drilling and completions scope of the project. Baker Hughes will supply drilling services, formation evaluation, casing and tubing running services, completion tools and services, wellbore intervention services, and wireline logging as well as perforation operations. Baker Hughes also will contract all third-party services, equipment, personnel, tools and materials required for the project, including the provision of up to five drilling rigs and three workover rigs. Full Article
Baker Hughes Inc. Declares Regular Quarterly Dividend
Baker Hughes Inc. announced that Board of Directors have declared the regular quarterly cash dividend of $0.15 per share of common stock payable August 19, 2011, to holders of record on August 8, 2011. Full Article
UPDATE 1-US natgas rig count edges up from 18-yr low -Baker Hughes
* Gas-directed rig count climbs slightly from 18-year low * Horizontal rigs fall for first time in three weeks * Oil rig count drops after three straight weekly gains NEW YORK, May 17 - The number of rigs drilling for natural gas in the United States rose this week by four after posting an 18-year low the previous week, stirring concerns that some producers were wading in to dry gas drilling. The gas-directed rig count edged up to 354 this week after sliding to 350 the
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
