Baker Hughes Inc. (BHI)

Baker Hughes Incorporated supplies products and technology services, and systems to the oil and natural gas industries worldwide. It operates in two segments, Drilling and Evaluation, and Completion and Production. The Drilling and Evaluation segment provides products and services used to drill and evaluate oil and natural gas wells. Its products include drilling fluids, completion fluids, drill bits, and fixed-cutter polycrystalline diamond compact bits. This segment also offers fluids environmental services; drilling and evaluation services, which include directional drilling, measurement-while-drilling, and logging-while-drilling services; and formation evaluation and wireline completion, and production services. The Completion and Production segment provides equipment and services used from the completion phase through the productive life of oil and natural gas wells. It principally offers wellbore construction, cased-hole completions, sand control, and wellbore intervention solutions. This segment also offers oilfield chemical programs for drilling, well stimulation, production, pipeline transportation, and maintenance programs; various process and water treatment programs, and finished fuel additives for the refining industry; and a variety of products and services for the pipeline transportation industry. In addition, it provides electrical submersible pump systems and progressing cavity pump systems, as well as permanent monitoring systems and chemical automation systems. Baker Hughes offers its products primarily through its sales organizations, as well as through independent distributors, agents, licensees, or sales representatives. The company was founded in 1972 and is headquartered in Houston, Texas.

For the nine months ended 30 September 2006, Baker Hughes Inc.'s revenues rose 27% to $6.57B. Net income from cont. ops. totaled $2.07B, up from $617M. Revenues reflect higher sales from the Drilling & Evaluation segment due to an increase in North American rig count & price increase and higher sales from Completion & Production segment. Net income also reflects a decrease in interest expense and the presence of gain on sale of interest in affiliate.