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Baker Hughes Inc (BHI)

BHI on New York Consolidated

59.80USD
24 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Baker Hughes does not see activity in Gulf Of Mexico getting better until mid-2017 - Conf call
Tuesday, 25 Oct 2016 09:51am EDT 

Baker Hughes Inc: "We continue to believe that oil prices in the mid to upper 50s are required for sustainable recovery in North America" . Says holds nearly 50 percent of drilling share in the DJ Basin . Says does not expect activity in Gulf Of Mexico to get better until mid-2017 . "We need $65 in West Africa, to see a recovery there" . "Internationally, we need to see oil at $55 for any recovery" . "We don't expect to have significant direct sales in Q4" . Says evaluating opportunities to further optimize global manufacturing footprint . Says in terms of overall size, envision to have a very large business in Russia, "but it will be a hybrid" . Says picked up over a 100 drilling rigs in Russia over the past 8 months Further company coverage: [BHI.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Baker Hughes Q3 adjusted non-gaap loss per share $0.15
Tuesday, 25 Oct 2016 06:30am EDT 

Baker Hughes Inc : . Q3 gaap loss per share $1.00 . Q3 revenue $2.4 billion versus I/B/E/S view $2.41 billion . . Q3 adjusted non-gaap loss per share $0.15 . In q4 of 2016 co expect activity in north america to modestly increase . Q3 earnings per share view $-0.44 -- Thomson Reuters I/B/E/S . Cash flows from operating activities were $119 million for quarter . Baker hughes-internationally, see activity declines, pricing pressure to continue, with minimal year-end, seasonal product sales unlikely to offset declines . Baker hughes inc - this quarter exceeded original cost reduction goal for year-end, setting a new annualized cost savings target of $650 million for 2016 . Baker hughes inc - "we expect market conditions to remain challenging near term" .Baker hughes - this quarter, co exceeded original cost reduction goal for year-end, setting new annualized cost savings target of $650 million for 2016.  Full Article

Valueact Capital Management L.P. reports 7.0 pct stake in Baker Hughes as of Sept 28
Monday, 3 Oct 2016 06:44am EDT 

Baker Hughes Inc : Valueact Capital Management L.P. reports 7.0 percent stake in Baker Hughes Inc as of september 28, 2016- SEC filing .Valueact Capital Management L.P. had earlier reported a 9.0 pct stake in Baker Hughes Inc as Of April 18, 2016 - SEC filing.  Full Article

Baker Hughes sets quarterly cash dividend of $0.17 per share
Thursday, 28 Jul 2016 03:30pm EDT 

Baker Hughes Inc :Sets regular quarterly cash dividend of $0.17 per share.  Full Article

Baker Hughes entered into new credit agreement on July 13
Thursday, 14 Jul 2016 05:05pm EDT 

Baker Hughes Inc : On July 13, 2016, Baker Hughes incorporated entered into a new credit agreement - SEC filing . 2016 credit agreement is a five-year committed $2.5 billion revolving credit facility that expires in July 2021 .On July 13, 2016 company terminated its existing five-year committed $2.5 billion credit agreement.  Full Article

U.S. fines ValueAct $11 mln over lack of disclosures tied to Halliburton, Baker Hughes stake
Tuesday, 12 Jul 2016 12:56pm EDT 

: U.S. says valueact enjoined from relying on 'investment-only' exemption when it intends to influence basic business decisions.  Full Article

Baker Hughes announces pricing terms of tender offer
Thursday, 9 Jun 2016 04:38pm EDT 

Baker Hughes : Pricing terms of its cash tender offer for up to $1 billion combined aggregate principal amount of its senior notes .Baker hughes announces pricing terms of tender offer for certain outstanding debt securities.  Full Article

Baker Hughes announces early results of tender offer for certain outstanding debt securities
Thursday, 9 Jun 2016 09:00am EDT 

Baker Hughes Inc : Approximately $1.095 billion in combined aggregate principal amount of notes was validly tendered and not validly withdrawn .Baker Hughes announces early results of tender offer for certain outstanding debt securities.  Full Article

Baker Hughes announces May 2016 rig counts
Tuesday, 7 Jun 2016 06:30am EDT 

Baker Hughes Inc : Baker Hughes announces may 2016 rig counts . Average u.s. Rig count for may 2016 was 408, down 29 from 437 counted in April 2016 . International rig count for may 2016 was 955 up 9 from April 2016, and down 203 from 1,158 counted in may 2015 . International offshore rig count for may 2016 was 229, up 9 from 220 counted in April 2016, and down 55 from 284 counted in may 2015 .Baker Hughes announces may 2016 rig counts.  Full Article

Moody's downgrades Baker Hughes to Baa1
Friday, 3 Jun 2016 04:23pm EDT 

Moody's: Moody's downgrades Baker Hughes to Baa1 . Stable outlook reflects expectation that ebitda will improve through cost cutting measures leading to lower leverage .Downgrade reflects elevated leverage, developing business model underpinned by current oilfield services segment weakness, failed Halliburton merger.  Full Article

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U.S. drillers add oil rigs for sixth week in a row - Baker Hughes

NEW YORK, Feb 24 U.S. drillers added oil rigs for a sixth consecutive week, extending a nine-month recovery as shale producers ramp up spending to take advantage of a recovery in oil prices.