Baker Hughes is an oilfield services company, providing the oil and gas industry with services and products for drilling, completion, production, and formation evaluation.
Sharp-Hughes Tool Company was formed in 1909 in Texas by Walter Benona Sharp and Howard R. Hughes. The company manufactured a two-cone drill bit that enabled rotary drilling in deeper formations that had been possible previously.
Walter Sharp died in 1915 and Hughes bought out his half of the business, renaming the company the Hughes Tool Company.
Over the years the company acquired many oilfield pioneers including Brown Oil Tools, CTC, EDECO, Elder Oil Tools, Milchem and Newpark, Eastman Chistensen, Drilex, Teleco, Tri-State, Wilson, Aquaness, Chemlink, Petrolite, Western Atlas, and BJ Services Company.
Today Baker Hughes makes products used to drill oil and natural gas wells, makes bits, drilling fluids and submersible pumps, manufactures equipment for the refining, process, and pipeline industries, as well as equipment used for the completion phase through productive life of oil and natural gas wells.
The company trades publicly on the New York Stock Exchange under the symbol BHI, is a member of the S&P 500 , is #243 in the Fortune 500, has 59,000 employees, and had $22.86 billion in revenue in 2013.
Baker Hughes IncorporatedBaker Hughes is an oilfield services company, providing the oil and gas industry with services and products for drilling, completion, production, and formation evaluation.
Sharp-Hughes Tool Company was formed in 1909 in Texas by Walter Benona Sharp and Howard R. Hughes. The company manufactured a two-cone drill bit that enabled rotary drilling in deeper formations that had been possible previously.
Walter Sharp died in 1915 and Hughes bought out his half of the business, renaming the company the Hughes Tool Company.
History
Over the years the company acquired many oilfield pioneers including Brown Oil Tools, CTC, EDECO, Elder Oil Tools, Milchem and Newpark, Eastman Chistensen, Drilex, Teleco, Tri-State, Wilson, Aquaness, Chemlink, Petrolite, Western Atlas, and BJ Services Company.
Today Baker Hughes makes products used to drill oil and natural gas wells, makes bits, drilling fluids and submersible pumps, manufactures equipment for the refining, process, and pipeline industries, as well as equipment used for the completion phase through productive life of oil and natural gas wells.
The company trades publicly on the New York Stock Exchange under the symbol BHI, is a member of the S&P 500 , is #243 in the Fortune 500, has 59,000 employees, and had $22.86 billion in revenue in 2013.
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