baker hughes inc (BHI) Key Developments
Independent Oil and Gas PLC Extends Seismic Remapping Agreement with Baker Hughes
Jun 26 15
Independent Oil and Gas PLC (IOG) announced that it is extending its seismic remapping agreement with Baker Hughes ' Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS), with an expected delivery date of late July 2015. RDS will also evaluate IOG's future prospects and discoveries in the SNS including, Truman, Harvey, Hambleton, Tetley and Rebellion. The companies intend to expand the relationship beyond the evaluation phase to other services that Baker Hughes could provide for field planning and development. The extended agreement comes after IOG commissioned RDS to complete a remapping project on 3D seismic data it purchased in 2014. RDS provided a set of maps showing the Rotliegendes, Carboniferous and Hauptdolomit hydrocarbon bearing zones in the SNS. This work helped remove uncertainties relating to commercial volumes in both discoveries and will now be further enhanced with new data purchased by IOG. Baker Hughes' RDS group maximizes profitability for E&P operations by providing the expertise to improve reservoir understanding, engineer value-added solutions, and efficiently manage a field.
Aker Solutions and Baker Hughes to Cooperate on Early-Phase Oil and Gas Studies
Jun 19 15
Aker Solutions and Baker Hughes agreed to cooperate on early-phase studies to help customers improve the overall economics and value of oil and gas field developments. Aker Solutions' Front End Spectrum unit and Baker Hughes' Reservoir Development Services group will provide customers with development concept studies that address the entire value chain - from reservoir understanding and well design to subsea and topsides facilities, including flow assurance and risk management. Each company has expertise from the full spectrum of field development. Initial customer studies are already under way. The new agreement comes after Aker Solutions and Baker Hughes in 2014 formed the Subsea Production Alliance to develop solutions that will boost output, increase recovery rates and reduce costs at subsea fields. The alliance uses Aker Solutions' capabilities in subsea production and processing and Baker Hughes' expertise in well completions and artificial-lift technology to deliver integrated in-well and subsea systems solutions. The importance of cooperating during the early phase of a project was recognized quickly in the alliance. The Front End Spectrum unit and Reservoir Development Services group maintain independent offices in Houston, Oslo, London, Aberdeen, Kuala Lumpur, Perth, Dubai, Abu Dhabi and Moscow. Aker Solutions' Front End Spectrum unit provides expertise in subsea and topsides systems, life-of-field production management and flow assurance. Baker Hughes' Reservoir Development Services group uses its subsurface expertise to improve reservoir understanding and determine efficient methods to capture a field's full potential.
Baker Hughes Incorporated Presents at SPE London Annual Conference 2015, Jun-09-2015 through Jun-10-2015
Jun 6 15
Baker Hughes Incorporated Presents at SPE London Annual Conference 2015, Jun-09-2015 through Jun-10-2015. Venue: One Great George Street, Westminster, London, SW1P 3AA, United Kingdom. Presentation Date & Speakers: Jun-10-2015, Chris Ward, Vice President, Europe, Africa, Russian, Caspian, Reservoir Development Services.
Baker Hughes Incorporated Declares Regular Quarterly Cash Dividend, Payable on June 24, 2015
May 14 15
Baker Hughes Incorporated declared the regular quarterly cash dividend of $0.17 per share, unchanged from the previous quarter. The dividend is payable on June 24, 2015 to holders of record on June 3, 2015.
Baker Hughes Incorporated Announces Operating Results for the Month of April 2015
May 7 15
Baker Hughes Incorporated announced operating results for the month of April 2015. The company announced that the international rig count for April 2015 was 1,202, down 49 from the 1,251 counted in March 2015, and down 147 from the 1,349 counted in April 2014. The international offshore rig count for April 2015 was 300, down 16 from the 316 counted in March 2015, and down 29 from the 329 counted in April 2014. The average U.S. rig count for April 2015 was 976, down 134 from the 1,110 counted in March 2015, and down 859 from the 1,835 counted in April 2014. The average Canadian rig count for April 2015 was 90, down 106 from the 196 counted in March 2015, and down 114 from the 204 counted in April 2014. The worldwide rig count for April 2015 was 2,268, down 289 from the 2,557 counted in March 2015, and down 1,120 from the 3,388 counted in April 2014.