Oil in the low forties and dropping thanks to more production coming out of Nigeria and Libya.
Anyone remember the oil boom days before oil dropped to $9 a barrel and destroyed the industry across the board? BHGE will just leave a bigger corpse.
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Baker management will be the downfall. Look at the mess in BH Aberdeen
its all hype, smoke and mirrors - there ll a few years of cannibalism before they get their act together - we are sitting ok.
This new company holds out hope for the future of the industry.
The only negative i can takeaway is that BHGE sounds like beige, the color, and that color is just oh so beige.
other than that ? well, da---------
But analysts said the new company can excel in other sectors of the competitive services market and bring the efficiencies that production companies increasingly demand. For example, GE's expertise in data collection and analysis could tell oil and gas companies when to replace parts - before they break down - and how best to stimulate production in old wells.
"There's a lot of big-data solutions they're able to provide to the oil and gas sector that haven't been tapped yet," said Jonathan Garrett, an analyst at energy research firm Wood Mackenzie.
GE, with an oil and gas computing platform called Predix, and revenues of $123.7 billion in 2016, will add resources to a company that had become a distant No. 3 in the sector, behind Halliburton and global energy services leader Schlumberger. The new Baker Hughes, however, has leapfrogged Halliburton and trails only Schlumberger in revenues and headcount.
Woohoo, sounds like BHGE is the Place to Work!
Well I'll be a monkey's uncle, this sure sounds good to me. For darn sure I'm sold. I don't have an oil well, but i'm gonna rush out and get one, 'cause i know i would just loooove doing business with this new conflaguration for sure. Who do i call?
Uniquely Positioned to Drive Productivity, Lower Costs and Innovate Globally for Customers
Starting today, BHGE will help its customers acquire, transport and refine hydrocarbons more efficiently, productively and safely, with a smaller environmental footprint and at lower cost per barrel. BHGE is focused on:
Providing a fullstream offering. No other company brings together capabilities across the full value chain of oil and gas activities—from upstream to midstream to downstream. This portfolio positions BHGE to create new sources of value, improving productivity and project economics through integrated equipment and service offerings.
Combining physical and digital to increase reliability and uptime. Applying digital and advanced technologies to oil and gas could bring approximately five percent productivity improvements across the entire industry. BHGE will use cloud-based software, advanced manufacturing and brilliant factory solutions to help its customers capture some of this opportunity—reducing risk and improving productivity in their operations as well as its own.
Creating new ways to win. BHGE’s leading technology and access to the “GE Store” of knowledge, experience, and research mean that it can bring new solutions to market faster. It deepens its competitive advantage through its long-standing local partnerships, creative business models and access to financing.
Building on heritage to create a world-class culture. BHGE brings together over 125 years of experienced talent in the industry with a mindset of continuous improvement to serve customers in over 120 countries. Both Baker Hughes and GE have world-recognized commitments to integrity, innovation, simplification and diversity, and BHGE recommits to these principles.
Uniquely Positioned to Drive Productivity, Lower Costs and Innovate Globally for Customers
LONDON & HOUSTON—July 03, 2017—Baker Hughes, a GE company (NYSE: BHGE) announced today that the transaction combining GE’s oil and gas business with Baker Hughes is complete. The new company is the first and only to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development.