So now that they have to pay for Chart, any bets on when they will sell off OFSE to cover?
17 replies (most recent on top)
https://www.forbes.com/sites/joecornell/2025/11/06/ananym-capital-proposes-baker-hughes-to-spin-off-oilfield-services--equipment-business/
The article suggests that shareholders support the split…it’s just when now.
@OP is this why there’s so many roles in Finance open all of the sudden?? Any thoughts on that & should we apply? For those of you within BH longevity…
I believe we are days away from hearing an announcement.
Share price steadily climbing.
@4m9 very true.
At some point the original GE oil and gas businesses were great when acquired, at the peak. Hydril amazing business, sold half at huge loss, rest trying to IPO with no hope, may have to sell rest at massive discount.
Surface wellhead and tree business entirely given away for pennies.
Subsea is the last part and largely as there's maybe a few buyers. Maybe a PE shop at 90% discount or to NOV for 95% off.
@4ka
From the Jewel in the Crown to the Sweet Corn in the Pile, how the mighty have fallen?
@OP probably remaining subsea/equipment business. Many parts of it already sold, see latest cactus deal. Probably just waiting on how much massive write down to take.
Someone got his pilots card and is working towards his hours to become a crop duster. Jack wagon doesn’t realize that Siemens AI drones have taken those jobs.
GE imagineering at work. Always late to the party. Too bad there aren’t steroids for the brain.
@1x0
Minimum Pay Cheque at that, unless you are Brass.
@f8 as mentioned -everyone in leadership is all form GE - so pretty sure the cultures of two companies clashed and you can feel the pain on both sides. They are all waiting for their paycheck so they can cash it and leave.
Who's going to buy Baker Hughes OFS? ADES just bought Shelf Drilling is TAQA still interested in Baker?
Why did we buy the toxic mess of BH who were heading downhill anyway. I think the reason is obvious.
I’m not sure who will want to purchase IPs that were respected & in demand back in the day, but have become toxic of late, & not desired by the customers, let alone future investors.
Are you sure this is all down to GE, because from where some of us are sitting, it all seemed to be going reasonably well until we hitched up with Baker, then it was all downhill from there?
Some facts below
Leadership Composition: Approximately 78% of Baker Hughes’ executives have a background with GE, indicating a strong influence from GE’s organizational culture and leadership style.
R&D Decline: Over the past four years, R&D investment within the OFSE (Oilfield Services & Equipment) division has significantly declined. Year-over-year data shows a cumulative reduction of 85–90%, a concerning trend for a company historically regarded as a technology leader.
Rebranding Strategy: The recent rebranding appears to position the company as a new energy supplier, shifting public perception while internal capabilities may not yet fully support that vision.
Despite having the capacity to pursue multiple acquisitions, the company opted for the $10B acquisition of Chart Industries, backed by a commitment to reduce leverage to 1.5x EBITDA. Meanwhile, the OFSE target of achieving 25% margin by 2025 remains unmet—currently hovering around 17%, despite substantial workforce reductions and plant closures.
This pattern suggests that divestitures are likely. While the timing remains uncertain, the direction is becoming increasingly evident. The larger question is: who would be in a position to acquire these assets, given the current market constraints?
In essence, we’re witnessing a strategic transformation—Baker Hughes is becoming a GE-managed entity, with culture, innovation, and decision-making increasingly aligned with GE’s philosophy. One could argue: it’s a calculated strategy, executed with precision and slow poisoned death of Baker Hughes Legacy
The Anonymouse - BINGO! It's only a matter of time before it is sold off
@as+1k1r5rnys
You mean carry on with the current plan of sub'ing out work that we used to do successfully, & with profit, to incapable companies at a loss?
Then tart up near empty offices & call them Centres of Excellence.
How's it all going - I hear the Customers love it, & the order books are bulging (LOL).
ESP product line.
Anything not bolted to the ground.
Sub out all manufacturing tools and parts, sell off anything that falls into the three GE businesses.
Service and custom facilities packaging should be the plan.