$BHI (Baker Hughes Incorporated)

$BHI {{ '2016-05-23T20:06:11+0000' | timeago}} • SEC

Oil services company $BHI said during 2015, the company initiated workforce reductions resulting in the elimination of approx. 18,000 positions worldwide. As of Dec. 31, 2015, $BHI had $81MM accrued severance remaining to be paid. In 1Q16, $BHI initiated workforce reduction is expected to eliminate approx. 2,000 additional positions worldwide.

$BHI {{ '2017-07-03T16:00:37+0000' | timeago}} • Announcement

Oilfield solutions provider $BHI said it has completed the transaction combining the company with the oil and gas business of $GE. Baker Hughes shares will begin trading on the New York Stock Exchange under the symbol BHGE on July 5, 2017. Meanwhile, the existing symbol, BHI, will be delisted from the stock exchange on July 3, 2017.

$BHI {{ '2017-06-30T16:30:18+0000' | timeago}} • Announcement

$BHI's stockowners were voted to approve the previously announced combination of $BHI with $GE's oil and gas business. The combination will create Baker Hughes, a $GE company, which will be traded on the NYSE under "BHGE" ticker. $BHI and $GE expects to close the transaction to combine $BHI and GE Oil & Gas on July 3, 2017.

$BHI {{ '2017-06-12T20:30:46+0000' | timeago}} • Announcement

$BHI and $GE reached agreement with Department of Justice that would allow parties to complete their proposed transaction under US law. $GE has agreed that it will divest its GE Water & Process Technologies business after closing $BHI transaction. $BHI continues to target a mid-year close and scheduled its shareholders vote for June 30.

$BHI {{ '2017-06-07T13:51:04+0000' | timeago}} • Announcement

$BHI said the international rig count for May 2017 was 957, up 1 from the 956 counted in April 2017, and up 2 from the 955 counted in May 2016. The average U.S. rig count for May 2017 was 893, up 40 from the 853 counted in April 2017, and up 485 from the 408 counted in May 2016.

$BHI {{ '2017-06-05T16:05:42+0000' | timeago}} • Announcement

$BHI and $GE announced the executive team that will lead Baker Hughes, a $GE company upon closing of their proposed transaction to combine $GE's Oil & Gas business with $BHI. The team include Lorenzo Simonelli, President & CEO; Brian Worrell, CFO; and Jennifer Hartsock, Chief Information Officer.

$BHI {{ '2017-05-31T14:02:38+0000' | timeago}} • Announcement

$BHI and $GE announced that the European Commission has cleared the proposed transaction between Baker Hughes and GE's oil and gas business under EU merger control rules. Baker Hughes and GE expect to close the transaction in mid-2017.

$NR {{ '2017-05-15T15:07:44+0000' | timeago}} • Announcement

$NR agreed with $BHI to provide drilling fluids and related services as part of $BHI's integrated service offering in support of the Greater Enfield project in offshore Western Australia. Work under this contract is expected to begin in late 2017 and generate total revenues of about $20MM over a 2-year period.

$BHI {{ '2017-05-05T11:47:06+0000' | timeago}} • Announcement

$BHI's international rig count for April 2017 was 956, up 10 from 946 in April 2016. The international offshore rig count was 201, down 19 from 220 last year. The avg. US rig count was 853, up 416 from 437 in April 2016. The avg. Canadian rig count was 108, up 67 from 41 last year. The worldwide rig count was 1,917, up 493 from 1,424 last year.

$BHI {{ '2017-04-27T19:42:00+0000' | timeago}} • Announcement

$BHI's Board of Directors declared a regular quarterly cash dividend of $0.17 per share of common stock payable May 19, 2017 to holders of record on May 8, 2017.

$BHI {{ '2017-04-25T17:51:52+0000' | timeago}} • Webcast

$BHI anticipates some ongoing pricing deterioration in international market during 2017, which is expected to offset the growth in its onshore business. The company said it will continue to focus on its cost reduction activity. In 1Q17, the company incurred some additional charges related to restructuring activity in its international business.

$BHI {{ '2017-04-25T11:27:41+0000' | timeago}} • Announcement

As $BHI posted 1Q17 results, CEO Martin Craighead said, "revenue for our upstream chemicals business, which represents approximately one-quarter of our North America revenue, grew in line with production volumes, and is poised for additional growth as production increases."

$BHI {{ '2017-04-25T11:25:21+0000' | timeago}} • Announcement

In 1Q17, $BHI's net attributable loss was cut down to $129MM or $0.30 per diluted share, from a loss of $981MM or $2.22 per diluted share a year ago. Revenue for the quarter was down 15% to $2.3Bil. Capital expenditures were relatively flat at $87MM.

$BHI {{ '2017-04-07T13:54:37+0000' | timeago}} • Announcement

In March 2017, international rig count for $BHI was 943, down 42 from a year ago. International offshore rig count was 197, down 14. Average U.S. rig count was 789, up 311. Worldwide rig count for March was 1,985, up 434 from a year ago.

$BHI {{ '2017-03-07T14:21:12+0000' | timeago}} • Announcement

$BHI worldwide rig count for Feb 2017 was 2,027, up 266 from the 1,761 a year ago. The average U.S. rig count rose by 212 to 744, while the international rig count for February went down by 77 to 941.

$BHI {{ '2017-02-07T14:12:35+0000' | timeago}} • Announcement

$BHI reported international rig count for the month of January 2017 of 933, up 4 from 929 counted in December 2016. The average U.S. rig count rose by 49 to 683 from 634, and average Canadian rig count increased by 93 to 302. The worldwide rig count grew 146 to 1,918 from 1,772 counted in December 2016.

$BHI {{ '2017-01-26T19:57:14+0000' | timeago}} • Announcement

$BHI's BoD declared the regular quarterly cash dividend of $0.17 per share of common stock. The dividend is payable on Feb. 17, 2017 to stockholders of record on Feb. 6, 2017.

$BHI {{ '2017-01-26T13:20:29+0000' | timeago}} • Announcement

$BHI, which agreed to merge with $GE's Oil & Gas division in Oct. 2016, said that the integration is on track. The company added that the regulatory review process is proceeding as planned and the deal is expected to close in mid-2017.

$BHI {{ '2017-01-26T13:16:15+0000' | timeago}} • Announcement

Revenue for North America, $BHI's largest segment, dropped 32% to $775MM in 4Q16 compared to the prior year quarter. Latin America, Europe/Africa/Russia Caspian, Middle East/Asia Pacific, and Industrial Services segments' revenue declined 47%, 32%, 16% and 18.5%, respectively.

$BHI {{ '2017-01-26T13:09:17+0000' | timeago}} • Announcement

$BHI's CEO Martin Craighead said, "Looking ahead for the first half of 2017, we expect onshore revenue in North America to increase as our customers ramp up activity, with service pricing improving but limited by overcapacity. Internationally, we are forecasting activity declines and continued pricing pressure, with pockets of growth onshore."

$BHI {{ '2017-01-26T13:07:07+0000' | timeago}} • Announcement

$BHI, which is prepared to merge with $GE, reported a narrowed loss in 4Q16, helped by the reduction in expenses. Net loss was $417MM or $0.98 per share compared to net loss of $1.031Bil or $2.35 per share in 4Q15. Revenue fell 30% to $2.41Bil. 4Q16 results include after-tax charges of $291MM, or $0.68 per share.

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