2016 News

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05/02/16Baker Hughes outlines path for the future
- To reduce costs by simplifying its organization and rationalizing its operational footprint - Commercial strategy focused on its core strengths in product innovation, while building broader channels for its technology and products - Announces plans to buy back $1.5 billion of shares and $1 billion of debt with $3.5 billion merger breakup fee - Chairman and CEO Martin Craighead and Chief Financial Officer Kimberly Ross to provide more details on Tuesday, May 3 at 7 a.m. Central Tim... 
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05/01/16Halliburton and Baker Hughes Announce Termination of Merger Agreement
HOUSTON--(BUSINESS WIRE)--May 1, 2016-- Halliburton Company (NYSE:HAL) and Baker Hughes Incorporated (NYSE:BHI) today announced that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160501005039/en/ “While both companies expected the proposed merger to result in compelling ... 
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04/27/16Baker Hughes Announces First Quarter Results
- Revenue of $2.7 billion for the quarter, down 21% sequentially and 42% year-over-year - Sequential and year-over-year decremental operating margins for the quarter were 28% and 13%, respectively - GAAP net loss per share of $2.22 for the quarter includes $1.14 per share of tax valuation allowances and $0.64 per share of adjusting items - Operating results include costs in excess of 500 bps, in excess of $0.25 per share, retained in compliance with the merger agreement HOUSTON, Ap... 
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04/18/16Baker Hughes Declares Quarterly Dividend
HOUSTON, April 18, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) Chairman and Chief Executive Officer Martin S. Craighead announced today that the Baker Hughes Board of Directors declared the regular quarterly cash dividend of $0.17 per share of common stock payable June 22, 2016 to holders of record on June 1, 2016. Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 39,000 employe... 
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04/07/16Baker Hughes Announces March 2016 Rig Counts
HOUSTON, April 07, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for March 2016 was 985, down 33 from the 1,018 counted in February 2016, and down 266 from the 1,251 counted in March 2015. The international offshore rig count for March 2016 was 211, down 14 from the 225 counted in February 2016, and down 105 from the 316 counted in March 2015. The average U.S. rig count for March 2016 was 478, down 54 from the 532 counted in Februar... 
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04/06/16Halliburton and Baker Hughes to Contest Justice Department Action
HOUSTON--(BUSINESS WIRE)--Apr. 6, 2016-- Halliburton Company (NYSE:HAL) and Baker Hughes Incorporated (NYSE:BHI) today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. The companies believe that the DOJ has reached the wrong conclusion in its assessment of the transaction and that its action is counterproductive, especially in the context of the challenges the U.S.... 
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03/29/16Baker Hughes Announces First Quarter 2016 Earnings Release Date
HOUSTON, March 29, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it will release its financial results for the first quarter of 2016 before the market opens on Wednesday, April 27, 2016. Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 43,000 employees today work in more than 80 countries helping customers find, evaluate, drill, produce, transport and proces... 
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03/09/16Baker Hughes Becomes First Oilfield Service Company to Enroll in the Regional Operational Integrity Program and Recognize its GoM Region
Baker Hughes and WPAG helped develop and pilot the new program, which drives consistency, service quality and risk mitigation across operations HOUSTON, March 9, 2016 /PRNewswire/ -- Baker Hughes announced today that it is the first service company to have enrolled in the new Regional Operational Integrity Program™ (ROIP) for the petroleum and natural gas industry and to receive Gold Recognition for its Gulf of Mexico (GoM) Center of Excellence from the Wollam Petroleum Advisory Group ... 
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03/07/16Baker Hughes Announces February 2016 Rig Counts
HOUSTON, March 7, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for February 2016 was 1,018, down 27 from the 1,045 counted in January 2016, and down 257 from the 1,275 counted in February 2015. The international offshore rig count for February 2016 was 225, down 17 from the 242 counted in January 2016, and down 99 from the 324 counted in February 2015. The average U.S. rig count for February 2016 was 532, down 122 from the 654 coun... 
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02/05/16Baker Hughes Announces January 2016 Rig Counts
HOUSTON, Feb. 5, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for January 2016 was 1,045, down 50 from the 1,095 counted in December 2015, and down 213 from the 1,258 counted in January 2015. The international offshore rig count for January 2016 was 242, down 8 from the 250 counted in December 2015, and down 72 from the 314 counted in January 2015. The average U.S. rig count for January 2016 was 654, down 60 from the 714 counted in... 
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01/28/16Baker Hughes Declares Quarterly Dividend
HOUSTON, Jan. 28, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) Chairman and Chief Executive Officer Martin S. Craighead announced today that the Baker Hughes Board of Directors declared the regular quarterly cash dividend of $0.17 per share of common stock payable March 23, 2016 to holders of record on March 2, 2016. Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 43,000 employ... 
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01/28/16Baker Hughes Announces Fourth Quarter and Annual Results
- Revenue of $3.4 billion for the quarter and $15.7 billion for the year - Sequential and year-over-year decremental operating margins for the quarter were 33% and 32%, respectively - GAAP net loss per share of $2.35 for the quarter, includes $2.14 per share of impairment and restructuring charges and merger-related costs - Free cash flow up 25% sequentially to $436 million for the quarter, and $1.2 billion for the year HOUSTON, Jan. 28, 2016 /PRNewswire/ -- Baker Hughes Incorporat... 
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01/12/16Halliburton and Baker Hughes Respond to European Commission Action
HOUSTON--(BUSINESS WIRE)--Jan. 12, 2016-- Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) today noted the decision by the European Commission (the “Commission”) to initiate a Phase II review of Halliburton’s pending acquisition of Baker Hughes. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160112006384/en/ This decision is a normal step in the Commission's... 
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01/08/16Baker Hughes Announces December 2015 Rig Counts
HOUSTON, Jan. 8, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for December 2015 was 1,095, down 14 from the 1,109 counted in November 2015, and down 218 from the 1,313 counted in December 2014. The international offshore rig count for December 2015 was 250, down 9 from the 259 counted in November 2015, and down 88 from the 338 counted in December 2014. The average U.S. rig count for December 2015 was 714, down 46 from the 760 count... 
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01/05/16Baker Hughes Announces Fourth Quarter 2015 Earnings Release Date
HOUSTON, Jan. 5, 2016 /PRNewswire/ -- Baker Hughes Incorporated (NYSE: BHI) announced today that it will release its financial results for the fourth quarter and full year of 2015 before the market opens on Thursday, January 28, 2016.  Baker Hughes is a leading supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. The company's 49,000 employees today work in more than 80 countries helping customers find, evaluate, drill, produce, tra... 
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