Baker Hughes Company Investor Relations Material

Baker Hughes is an American company headquartered in Houston Texas. It is one of the largest oil field services companies in the world and provides various services and products for the larger oil industry. Baker Hughes provides various types of products and services within oil well drilling, production, and other critical steps in oil exploitation. The company has a global reach, operating in well over 100 countries worldwide and its shares are listed on the NYSE.

Baker Hughes traces its origins back to the early 20th century through the merger of two significant companies: Hughes Tool Company and Baker Oil Tool Company. Hughes Tool Company, founded in 1908 by Howard Hughes Sr., introduced the dual-cone rotary drill bit which revolutionized the drilling industry. Reuben C. Baker, the founder of Baker Oil Tool Company in 1907, patented the casing shoe, a device that enhanced the drilling process.

Their merger in 1987 marked the formation of Baker Hughes Incorporated, creating an industry giant that offered a comprehensive suite of services and products for oil exploration and production worldwide. In 2017, GE became a majority owner of Baker Hughes. However, their ownership proved to be short-lived as GE divested from the company in 2020.

Baker Hughes is one of the foremost oilfield service companies in the world, providing a broad spectrum of technologies and services to the global oil industry. The company plays an instrumental role in the entire lifecycle of oil exploration and production.

From the inception of an oil well to its eventual decline, Baker Hughes offers services and solutions at every stage. In the upstream sector, they provide exploration services, with advanced drilling technologies that facilitate efficient and safe extraction of oil. Their offerings include drill bits, drilling fluids, and machinery, all optimized for varying geological terrains and challenges. In addition to drilling, Baker Hughes provides services and products related to well completions, production systems, and reservoir evaluation to optimize output and prolong well life. The company's integrated approach ensures that oil producers can maximize their yields, reduce operational costs, and maintain safety standards. While Baker Hughes is one of the leaders in its field, it faces competition from companies such as Schlumberger and Halliburton.

The company is also active within the gas sector. Baker Hughes offers a host of technologies and services tailored for gas exploration, production, and processing. The company delivers solutions for both conventional and unconventional gas reservoirs, including shale gas, tight gas, and coalbed methane. Beyond exploration and production, Baker Hughes provides equipment and services for liquefied natural gas (LNG) processing, enabling the transport and storage of gas across global markets.