Tag: Baker Hughes Rigs

Baker Hughes announces $724 million loss for Q1 2016

Baker Hughes announces $724 million loss for Q1 2016

Revenue of $2.7 billion for the quarter, down 21% sequentially and 42% year-over-year HOUSTON- Baker Hughes¬†says Q1 2016 was worse than expected, leading to more losses ahead of the proposed takeover by Halliburton. “During the quarter, the industry faced another precipitous decline in activity, exceeding even the most pessimistic predictions, as E&P companies further cut […]

Baker Hughes sees big drop in 2015 North American revenue

Baker Hughes sees big drop in 2015 North American revenue

Baker Hughes revenue for 2015¬†was $15.7 billion, down $8.8 billion compared to$24.6 billion for 2014 HOUSTON, Texas – Baker Hughes, soon to be merged with oil services giant Halliburton, is reporting a profit despite the challenging global price environment, the company reported last week. “Our 2015 results are reflective of an extremely difficult and increasingly […]

By January 29, 2016 0 Comments Read More →