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In 1985, Baker International acquired the drilling fluids division of Newpark Resources and merged it with Milchem's mud division to form Milpark. In 1934, Eastman Whipstock Inc. was founded by Eastman and Roman W. Hines, the same year the company drilled the world's first relief well to control a blowout in Conroe, Texas, that had been on fire for more than a year. Digital Solutions is a market leader in condition monitoring (Bently Nevada), sensing (Druck, Panametrics, Reuter-Stokes), control systems and cybersecurity (Nexus Controls), and industrial inspection (Waygate Technologies, Process & Pipeline Services). [12] [13], As a result of the 1980s oil glut, in 1987, Baker International acquired Hughes Tool Company to form Baker Hughes Incorporated. Introduced in 1997 with Agip S.p.A., the tool is fundamentally different compared to contemporary rivals such as the PowerDrive and the GeoPilot employing the hybrid technique of "pushing and pointing (vectoring) the bit" rather than only "pointing the bit" or only "pushing the bit". Tri-State and Wilson companies were acquired by Baker Oil Tools and merged in 1990. [56], In 2020, Sterling Auxiliaries & Artek Surfin Chemicals have acquired Baker Hughes' Sand Springs facility. [34]. [55], In June 1989, Baker Hughes acquired Bird Machine Company for $47.5 million. Their combined history dates back to the early 1900s. [43], In 2003, the division acquired Cornerstone Pipeline Inspection Group.[44]. In 1987, when Baker Hughes was formed, Hughes Drilling Fluids was merged into Milpark, and in 1993, Milpark became a product line within Baker Hughes INTEQ. Each time, Hughes asked the drilling crew to leave the rig floor, pulled the bit from a locked wooden box, and then his associates ran the bit into the hole. Drilling for the exploration of the nature of the material underground is best described as borehole drilling. This innovation launched the business that would become Baker Oil Tools. In 1976, it became Baker International Corporation with almost all of its operations headquartered in Houston. Baker Hughes Incorporated is the product of the 1987 merger of two oilfield-services companies with surprisingly similar histories, Baker Oil Tools and Hughes Tool Company. In 1992, Baker Oil Tools introduced the ZXP Liner Top Packer, with expandable metal seals, which set the stage for development of expandable screens, casing systems and liner hangers. Baker Hughes is an energy technology company providing solutions for energy and industrial customers. Congratulations on this excellent venture… what a great idea! In 1928, Baker Casing Shoe Company changed its name to Baker Oil Tools, Inc., to reflect its product line of completion, cementing and fishing equipment. While Hughes was engaged in his Hollywood and aviation enterprises, managers in Houston, such as Fred Ayers and Maynard Montrose, kept the tool company growing through technical innovation and international expansion. The company used to be identified by its red Sii logo. Logging while drilling (LWD) is a technique of conveying well logging tools into the well borehole downhole as part of the bottom hole assembly (BHA). INTEQ also originally incorporated the drilling fluids division of Baker Hughes which consisted of Milpark and others. The company’s drilling, surveying, wireline, and support services help customers place wells more precisely and accurately, improve hydrocarbon recovery factors, and reduce project lifecycle costs. To market the new mud, he formed The Milwhite Company in Texas. This same technology was adapted to Genesis HCR bits for rotary steerable systems, such as the Baker Hughes AutoTrak rotary closed loop system. In addition, Baker Hughes acquired Vetco Services for $37 million and EDECO Petroleum Services for $12.1 million the same year. In 1978, Hughes Tool Company acquired Brown Oil Tools. Baker Hughes was formed in 1986 with the merger of Baker International and Hughes Tool Company. The company's home office was located at 3920 Essex Lane in Houston, Texas. The company provides the oil and gas industry with products and services for oil drilling, formation evaluation, completion, production and reservoir consulting. This company supplies products to gas and oil production and exploration companies. In 1895 he got a job in a California oilfield with 95 cents in his pocket. After a hiatus during World War II, the company resumed grinding operations using barite from a mine in Missouri and conducted mud sales through independent distributors. [55], In June 1989, Baker Hughes acquired Bird Machine Company for $47.5 million. 2 oilfield service provider", "Independent again: Baker Hguhes rolls out new look", "Baker Hughes Closes BJ Services Acquisition", "Baker Hughes unloads fracturing business in private-equity deal", "Vern Jones, Sacramento drilling exploration leader and major philanthropist, dies at 93", "Baker Hughes completes purchase of unit from Norton", "Drilling Technology Drilling optimization more than specific technologies", "Baker Hughes acquires well completion products firm in Scotland", "Baker Hughes to Acquire Petrolite in a Stock Deal", "Baker Hughes acquiring Cornerstone Pipeline Inspection Group", "Baker Hughes 1996 Form 10-K Annual Report", "COMPANY NEWS; Baker Hughes to Buy Teleco Oilfield Services", "TELECO OILFIELD SERVICES SOLD TO HOUSTON COMPANY", "Baker Hughes, Western Atlas Agree to Merge", "Baker Hughes 2000 Form 10-K Annual Report", "Baker Hughes, Western Atlas agree to merge", "Baker Hughes Likely to Buy Western Atlas", "Baker Hughes agrees to buy Western Atlas for $6.2 billion Bid is to stop rival's offer, gain exploration services", "Oil-Services Firm Baker Hughes Buys Western Atlas For $5.5 Billion in Stock", "ARTEK SURFIN CHEMICALS TO ACQUIRE BAKER HUGHES CHEMICAL MANUFACTURING FACILITY", International Association of Oil & Gas Producers. In 1986 Eastman Whipstock merged with Norton Christensen to form Eastman Christensen. After a hiatus during World War II, the company resumed grinding operations using barite from a mine in Missouri and conducted mud sales through independent distributors. Graduate engineering careers at Baker Hughes. One year later he became a drilling contractor. In 1984, Baker dismissed several of the top executives of Tri State, headquartered in Bossier City, La. As of September 2020, GE is no longer majority owner of Baker Hughes, owning less than 37% and intending to completely divest its ownership stake over the next few years. During those years, the Utes owned a 21-3-1 record. Baker was born on November 12, 1929, to Catherine and Kenneth Baker Sr. in 1929 in Tacoma, Washington. In 1929, Cicero C. Brown organized Brown Oil Tools in Houston, and patented the first liner hanger in 1937. National Oilwell Varco (NOV) is an American multinational corporation based in Houston, Texas. We have created a browser extension. Dresser Industries was a multinational corporation headquartered in Dallas, Texas, United States, which provided a wide range of technology, products, and services used for developing energy and natural resources. Panametrics, a Baker Hughes Business develops solutions for moisture, oxygen, liquid flow, and gas flow measurement, with proven technologies that are known across many industries, including oil and gas. [ citation needed ]. "Crashing Chris" was the university's first three-time All-American. A drilling rig is used to create a borehole or well in the earth's sub-surface, for example in order to extract natural resources such as gas or oil. [50], On August 10, 1998, the company acquired Western Atlas for $5.5 billion in stock plus the assumption of $700 million in debt. INTEQ also originally incorporated the drilling fluids division of Baker Hughes which consisted of Milpark and others. Other innovations developed in Celle include the industry's first steerable motor system, and the AutoTrak Rotary Closed Loop System. Baker died only a few weeks later after a brief illness at the age of 85. The company was acquired by Hughes Tool Company in 1979, and renamed Hughes Drilling Fluids in 1982. To receive approval from the United States Department of Justice, the company sold its Hughes Tool diamond bit business. [56], In 2020, Sterling Auxiliaries & Artek Surfin Chemicals have acquired Baker Hughes' Sand Springs facility.[57]. [18], In April 2007, the company pleaded guilty in U.S. federal court to violations of the Foreign Corrupt Practices Act (FCPA). Schlumberger has four principal executive offices located in Paris, Houston, London, and The Hague. [37][38] In 1972, Baker Hughes acquired EXLOG. [36]. The merger was consummated in July 2017. [12][13], As a result of the 1980s oil glut, in 1987, Baker International acquired Hughes Tool Company to form Baker Hughes Incorporated. Baker Hughes - company. Before joining Baker Hughes in July 2017, she served as the Chief Commercial Officer of GE Oil & Gas from January 2015 to July 2017. [citation needed] References At the start of the SLB acquisition in 2015, Cameron employed approximately 23,000 people and delivered $9.8 billion in revenue. [24] If consummated, it would have been the largest merger in the history of the petroleum industry. His first job was driving a horse team to haul oil for drillers. To market the new mud, he formed The Milwhite Company in Texas. In 1987, the Brown liner hanger technology was merged into Baker Oil Tools. It offers oilfield services, such as evaluation, drilling, completions, production, and optimization, as well as oilfield equipment including pressure control equipment and services, subsea production systems and services, drilling equipment, and flexible pipeline systems. In 1978, Baker Oil Tools introduced the Bakerline casing liner hanger. Milchem Inc. was formed in 1963 to manufacture and market drilling fluids and oilfield chemicals. Meanwhile, in 1942, Oil Base Drilling Company was founded by George Miller, and made its first application of oil base mud. Cameron International Corporation though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. In 2007, the Celle Technology Center became Baker Hughes' leading research and engineering facility in the Eastern Hemisphere. In 1994, Baker Oil Tools introduced multilateral completion systems, which enabled operators to install completion tools and perform selective intervention work in multiple horizontal sections from a common main borehole. On April 28, 2010, Baker Hughes acquired BJ Services. Other innovations developed in Celle include the industry's first steerable motor system, and the AutoTrak Rotary Closed Loop System. [10] In 1964, Sutter was succeeded by E.H. "Hubie" Clark, who became the first Baker Hughes chairman of the board in 1987. INTEQ provides directional Drilling, MWD/LWD, surface logging (mud logging) and coring services. The log may be based either on visual inspection of samples brought to the surface or on physical measurements made by instruments lowered into the hole. During its history, Baker Hughes has acquired and assimilated numerous oilfield pioneers including: Brown Oil Tools, CTC, EDECO, and Elder Oil Tools (completions); Milchem (drilling fluids); EXLOG (mud logging); Eastman Christensen and Drilex (directional drilling and diamond drill bits); Teleco (measurement while drilling); Tri-State and Wilson (fishing tools and services); Aquaness, Chemlink and Petrolite (specialty chemicals), Western Atlas (seismic exploration, well logging), BJ Services (pressure pumping). [45][46][47] Teleco had approximately 1,300 employees, including 430, in Meriden, Connecticut.[48]. [40] By 1995, Hughes Christensen's Gold Series PDC line increased drilling efficiency by reducing the frictional forces that can accumulate in front of the cutting edge, reducing the energy required to remove the rock. Western Atlas was divested from Litton Industries in 1994. In 1977, the Celle engineering and manufacturing team introduced the Navi-Drill line of downhole drilling motors, which has led the drilling industry in performance and reliability for three decades. In 1977, the Celle engineering and manufacturing team introduced the Navi-Drill line of downhole drilling motors, which has led the drilling industry in performance and reliability for three decades. After collecting data from thousands of bit runs, Hughes introduced the first comprehensive guides to efficient drilling practices in 1960; 1964 saw the introduction of the X-Line rock bits, combining new cutting structure designs and hydraulic jets. In the mid-1930s, the company mined barites in conjunction with the Magnet Cove Barium Corporation (later called Magcobar). Rami Qasem is Executive Vice President of Baker Hughes and leads the Digital Solutions business for the company. In 1934, Eastman Whipstock Inc. was founded by Eastman and Roman W. Hines, the same year the company drilled the world's first relief well to control a blowout in Conroe, Texas, that had been on fire for more than a year. [29] [30], In December 2016, it was announced that the company would shed its North America Land Pressure Pumping division to form a new BJ Services as part of its divestment agreement with GE. To receive approval from the United States Department of Justice, the company sold its Hughes Tool diamond bit business. These executives were replaced with Baker executives from Houston and the project of moving Tri State to Houston was put into action. In 1986 Eastman Whipstock merged with Norton Christensen to form Eastman Christensen. Joint venture with Schlumberger (2000-2006), Violation of Foreign Corrupt Practices Act, "Baker Hughes, a GE company 2018 Form 10-K Annual Report", "Baker Hughes Headquarters Address, Contact Number", "Baker Hughes Product Services - Oilfield Services", "Baker Hughes Product Services - Oilfield Equipment", "Baker Hughes Product Services - Turbomachinery and Process Solutions", "Baker Hughes Product Services - Measurement and Controls", "History of Baker Hughes Incorporated – FundingUniverse", "Drilling tool with non-rotating sleeve - Schlumberger Technology Corporation", "Rotary-steerable system drills 300,000 ft of hole", "The Justice Department has proposed a consent decree that...", "Baker Hughes merger with GE unit could mark end of an era", "State Of The Art Of 4D Seismic Monitoring: The Technique, The Record, And The Future", "Schlumberger, Baker Hughes combine seismic units", "Schlumberger buys Baker Hughes' stake in WesternGeco", "Baker Hughes Admits to Overseas Bribery", "Baker Hughes Subsidiary Pleads Guilty to Bribing Kazakh Official and Agrees to Pay $11 Million Criminal Fine as Part of Largest Combined Sanction Ever Imposed in FCPA Case", "Baker Hughes' Norwegian Workers 'Prepared to Strike for Years, "Baker Hughes introduces biggest fracturing vessel in gulf", "Halliburton and Baker Hughes Agree to Friendly $34.6 Billion Merger", "Justice Department Sues to Block Halliburton's Acquisition of Baker Hughes", "Halliburton and Baker Hughes set to terminate $35 billion deal", "Halliburton and Baker Hughes scrap $28 billion merger", "GE to Combine Oil and Gas Business With Baker Hughes", "EU clears GE's Baker Hughes purchase without conditions", "U.S. DoJ Approves Baker Hughes – GE Merger", "GE closes Baker Hughes deal, becomes No. Having only a third grade education, he obtained more than 150 patents on oil drilling tools. Baker Hughes is headquartered in Houston, TX and has 111 office locations across 41 countries. Baker Oil Tools expanded to Houston in the 1920s, and although buffeted by the Great Depression, survived and continued growing into the 1960s. [39] Baker Hughes combined Eastman Christensen and the remainder of Hughes Tools to form Hughes Christensen. In 1970, Baker Oil Tools acquired Lynes, Inc., which produced liner hangers and other completion equipment. [31] The new BJ Services merged with ALLIED Services and ALTCEM. In 1997, Baker Hughes acquired Petrolite for $693 million in stock. In 2001 Halliburton sold five separate, but somewhat related former Dresser non "oil patch" divisions, to an investment banking firm. In early 1956, during one of the most successful periods in the company's history, Baker retired as President of Baker Oil Tools and was succeeded by his long-time associate Ted Sutter. Tri-State provided milling operation, spears, and packer retrieving. Maria Claudia Borras is Executive Vice President, Oilfield Services at Baker Hughes, leading the company’s largest business segment with 30,000+ employees and operations in 120 countries. Liner hangers enable drillers to lengthen their casing strings without having the liner pipe extend all the way to the surface. His first job was driving a horse team to haul oil for drillers. In 1984, Baker dismissed several of the top executives of Tri State, headquartered in Bossier City, La. It was named after founder Howard R. Hughes Sr.. [23], In November 2014, the company entered talks with Halliburton over a merger deal valued at $34.6 billion. [10] The casing shoe revolutionized cable tool drilling by ensuring the uninterrupted flow of oil through the bottom of the casing in the well.[11]. After Walter Sharp died in 1912, Hughes purchased Sharp's half of the business. In 1895 he got a job in a California oilfield with 95 cents in his pocket. Founded in 1908, it was merged into Baker Hughes Incorporated in 1987. Baker Hughes, Inc. supplies oilfield services, products, technology, and systems to the worldwide oil and natural gas industry. In the fourth quarter of 1997, the company acquired Heartland Kingfisher, a Canadian well-logging company. The merger was approved by both companies' stockholders and was waiting on approval from several jurisdictions; however, on April 6, 2016, the United States Department of Justice sued to block the transaction. The company has recently changed its logo to consist of the word "SMITH" in black capital letters with a green globe. Baker Hughes Company is an American international industrial service company and one of the world's largest oil field services companies. The company agreed to pay $44.1 million in fines and penalties. Baker Hughes, a GE company (BHGE) adalah sebuah syarikat perkhidmatan perindustrian antarabangsa dan salah satu syarikat perkhidmatan minyak terbesar di dunia.Sehingga Julai 2017, Baker Hughes ialah 62.5% milik General Electric Company dan 37.5% didagangkan secara umum (NYSE:BHGE). Gyrodata operates in more than 50 countries across multiple energy markets and employs approximately 1,000 people. During its 80-year history prior to its merger with Baker Hughes, Baker Oil Tools had only three chief executives. Welcome! That's it. The company provides the oil and gas industry with products and services for oil drilling, formation evaluation, completion, production and reservoir consulting. The terms measurement while drilling (MWD), and logging while drilling (LWD) are not used consistently throughout the industry. Baker Hughes Incorporated is an oil and gas drilling and refinement company. [44]. [32], In September 2019, GE announced it had sold some of its shares in Baker Hughes, therefore losing its majority control of the company. In 2003, these product lines were spun off to form the separate entity of Baker Hughes Drilling Fluids (BHDF), with INTEQ continuing as the Drilling and Evaluation (D&E) company. In 1931, Max B. Miller devised a drilling mud using a white clay as a weighting material. Gyrodata, Incorporated is a privately owned company headquartered in Houston, Texas. In 1929, Cicero C. Brown organized Brown Oil Tools in Houston, and patented the first liner hanger in 1937. In 1929, H. John Eastman introduced "controlled directional drilling" in Huntington Beach, California, using whipstocks and magnetic survey instruments to deflect the drill pipe from shore-based rigs to reach oil deposits offshore. Hughes is commonly credited as the driving force behind the Lockheed Constellation airliner, which Hughes and Frye ordered in 1939 as a long-range replacement for TWA's fleet of Boeing 307 Stratoliners. In a sign of the times, Baker Hughes has announced a rebranding effort that will ditch the company’s iconic light-blue color palette for shades of green. Genesis ZX PDCs followed with new Zenith cutters. In 1958, the Engineering and Research Laboratory was enlarged to accommodate six laboratory sections that housed specialized instruments, such as a direct reading spectrometer and x-ray diffractometer. In 1993, Baker Hughes INTEQ was formed by combining five of the Company's oilfield divisions. The company has principal offices in Aberdeen, Scotland and Kuala Lumpur, Malaysia. The company agreed to pay $44.1 million in fines and penalties. [49], In 1995, Western Atlas acquired 50% of PetroAlliance Services Company, Ltd., which offered seismic, well-logging, and integrated project services in the Post-Soviet states. By 1990 the move was completed. We develop and deploy technologies to take energy and industry forward. Oilfield terminology refers to the jargon used by those working in fields within and related to the upstream segment of the petroleum industry. 2019. [21] On June 18, 2012, the strike was called off after the parties agreed to a new collective agreement. This saves capital cost and reduces weight borne by offshore platforms. This saves capital cost and reduces weight borne by offshore platforms. Public officials believed that the asset sale would not help the combined company retain competitiveness, as smaller buyers would not utilize their larger rivals’ assets efficiently. [26][27], At the end of October 2016, the company was in negotiations with General Electric to combine with GE Oil and Gas. Would you like Wikipedia to always look as professional and up-to-date? [16], In 2000, during a downturn in the petroleum industry, the company merged its Western Geophysical division with Schlumberger's Geco (Geophysical Company of Norway) to form WesternGeco. Offices were opened in Scotland (small town Dice outside of Aberdeen), Egypt, Singapore, Malaysia, Australia, Alaska's North Slope, among others. Schlumberger employees represent more than 140 nationalities working in more than 120 countries. [40] By 1995, Hughes Christensen's Gold Series PDC line increased drilling efficiency by reducing the frictional forces that can accumulate in front of the cutting edge, reducing the energy required to remove the rock. Over the course of the next 10+ years, Bake invested capital to make Tri State an international company. In 2003, these product lines were spun off to form the separate entity of Baker Hughes Drilling Fluids (BHDF), with INTEQ continuing as the Drilling and Evaluation (D&E) company. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, a Schlumberger Company.' Teleco Oilfield Services was founded in 1972 and introduced the world's first MWD tool in 1978. [22], In 2001, the company introduced the largest hydraulic fracturing proppants vessel for deepwater work in the Gulf of Mexico. These executives were replaced with Baker executives from Houston and the project of moving Tri State to Houston was put into action. Their combined history dates back to the early 1900s. Baker Hughes Company is an international industrial service company and one of the world's largest oil field services companies. [54] The acquisition added strong seismic-data operations as well as downhole wireline and testing services. 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