eFinanceMarkets
8年前
Bloomberg: Baker Hughes-backed BJ Services preparing for IPO
Fracking company BJ Services is preparing an IPO, just months after it was formed, Bloomberg reports.
Created by Baker Hughes (BHI +1.2%), a fund managed by Goldman Sachs and P-E firm CSL Capital Management, BJ Services plans to raise at least $300M in the IPO, according to the report.
BJ is North America’s largest pure-play oilfield pressure pumping company, with a combined capacity of 1.9M hydraulic horsepower.
gail
9年前
i am not in this but huge bad..........
..
news hit the internet general news so i came to see if there were any posts since then and there was not...
you can tell that an insider had info and got out friday, just after hours.. here is a screen shot.
then they said some fee will be paid for cancelling the merger. I was in a penny stock that did that and it fell hard.
there was a $13.8 mil sell off, wayyyyyyyyy before the news. buffet's sister, Doris, happens to live nearby me in fredericksburg va... i wish i could ask her about it, but you just dont do that.
Timothy Smith
9年前
The number of rigs exploring for oil in the U.S. fell by 4 last week to 631, according to the latest survey from Baker Hughes, marking the 28th straight week of declines.
The number of active oil rigs has plunged by 878 rigs, or 61%, since a peak of 1,609 rigs last October.
For all rigs, including natural gas, the week's drop totaled 2 to 857, down by 1,001 from the year-ago period.
Timothy Smith
10年前
$BHI The number of oil rigs in use in the U.S. kept collapsing last week and the associated gas production will not stay unaffected during the remainder of 2015. Week of 8th, the number of active rigs fell by 42 to 760, the lowest weekly total since December 17, 2010. Since hitting a peak of 1,609 back in October 2014, the number of US oil rigs in use is down by about 53%.
Wanka
10年前
Baker Hughes Fourth-Quarter Earnings Top Expectations
Source: Dow Jones News
By Chelsey Dulaney
Baker Hughes Inc.'s results in its December quarter easily topped Wall Street expectations, as the oil-field services company benefited from stronger-than-projected demand and cost cuts.
Still, Baker Hughes Chief Executive Martin Craighead warned on Tuesday that 2015 results would likely be pressured by the recent drop in oil prices.
"When we reflect on the marketplace, the bearish sentiment that has pervaded our industry is understandable, considering the steep drop in commodity prices in recent months," Mr. Craighead said. "While market demand ended up being more resilient in the fourth quarter than many had predicted, the recent declines seen in rig counts will clearly affect results in 2015."
On Friday, activist investor ValueAct Capital Management LP reported a 5.1% stake in Baker Hughes--an unusual move, since Baker Hughes is in an agreement to be bought by larger rival Halliburton Co.
ValueAct didn't indicate its motives in the filing with the Securities and Exchange Commission that revealed its stake.
The deal with Halliburton, struck in November and valued at almost $35 billion at the time, underscored the new realities for energy companies in a world suddenly awash with oil. As a result, oil-field services companies, which are hired to drill and pump wells, are facing less demand for their services and pressure to cut prices.
Since the deal was struck, oil prices have continued their downward spiral.
For the fourth quarter ended Dec. 31, Baker Hughes reported a profit of $663 million, or $1.52 a share, up from $248 million, or 56 cents a share, a year earlier. Excluding a gain on deconsolidation of a join venture, adjusted per-share earnings were $1.44.
Revenue grew 13.2% to $6.64 billion.
Analysts polled by Thomson Reuters were expecting adjusted earnings of $1.07 a share on revenue of $6.41 billion.
The North American segment, the company's largest geographic business by revenue, reported a 20.4% increase in revenue to $3.3 billion. Revenue climbed 13.1% in the Middle East and Asia Pacific region, and 5% in the Europe, Africa and Russia Caspian segment. Latin America revenue edged down 2%.
Expenses, meanwhile, fell 4.5%.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Access Investor Kit for Baker Hughes, Inc.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US0572241075
Access Investor Kit for Halliburton Co.
Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US4062161017
Subscribe to WSJ: http://online.wsj.com?mod=djnwires