The company made $4.1 million in "commission" payments between 2001 and 2003, after which the company was awarded an oil-services contract in the Karachaganak Field in Kazakhstan. Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, brine, natural gas, or petroleum, for the injection of a fluid from surface to a subsurface reservoir or for subsurface formations evaluation or monitoring. Baker Hughes is the leading energy technology company that designs and manufactures transformative technologies that take energy forward. April 1992, Baker Hughes acquired Teleco Oilfield Services, a provider of directional measurement-while-drilling technology, from Sonat for $200 million cash, preferred stock and royalty from future sales of Teleco's "triple combo" sensors. The company conducts operations in more than 600 locations across six continents, operating through three reporting segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions. Genesis ZX PDCs followed with new Zenith cutters. In early 1956, during one of the most successful periods in the company's history, Baker retired as President of Baker Oil Tools and was succeeded by his long-time associate Ted Sutter. Hughes Christensen next introduced the Genesis HCM bits for steerable motors with patented EZSteer depth-of-cut control technology. Their combined history dates back to the early 1900s. Baker died only a few weeks later after a brief illness at the age of 85. Baker Hughes, a GE company (NYSE: BHGE) is the world’s first and only fullstream provider of integrated oilfield products, services and digital solutions. This saves capital cost and reduces weight borne by offshore platforms. [49], In 1995, Western Atlas acquired 50% of PetroAlliance Services Company, Ltd., which offered seismic, well-logging, and integrated project services in the Post-Soviet states. S. Barnickel & Co. owned 47% of Petrolite. Tri-State and Wilson companies were acquired by Baker Oil Tools and merged in 1990. The Hughes Tool Company was founded in 1908 by business partners Walter Benona Sharp and Howard R. Hughes, Sr., father of Howard Hughes, Jr. That year, Hughes, Sr. and Sharp developed the first two-cone drill bit, designed to enable rotary drilling in harder, deeper formations than was possible with earlier fishtail bits. The company has principal offices in Aberdeen, Scotland and Kuala Lumpur, Malaysia. In 1978, Baker Oil Tools introduced the Bakerline casing liner hanger. [25], There were concerns that the merger would affect competition and prices in the oilfield service industry. After Walter Sharp died in 1912, Hughes purchased Sharp's half of the business. Baker Hughes is organized in Delaware and headquartered in Houston. Welcome! 2019. In 2007, the Celle Technology Center became Baker Hughes' leading research and engineering facility in the Eastern Hemisphere. While Hughes was engaged in his Hollywood and aviation enterprises, managers in Houston, such as Fred Ayers and Maynard Montrose, kept the tool company growing through technical innovation and international expansion. Exploration Logging Company (EXLOG) was founded in 1952 in Sacramento, California by Vern C. Jones, and had 800 employees. [31] The new BJ Services merged with ALLIED Services and ALTCEM. In 1931, Max B. Miller devised a drilling mud using a white clay as a weighting material. In 1998, Western Atlas was acquired by Baker Hughes. I use WIKI 2 every day and almost forgot how the original Wikipedia looks like. In 1993, Hughes Christensen introduced the AR-Series PDC bits, anti-whirl bits with increased penetration rates up to 100% in some applications and extended bit life as much as four-fold, compared to previous bit designs. This same technology was adapted to Genesis HCR bits for rotary steerable systems, such as the Baker Hughes AutoTrak rotary closed loop system. In 1984, Baker dismissed several of the top executives of Tri State, headquartered in Bossier City, La. Reuben Carlton "Carl" Baker, Sr. was an American oil industry drilling pioneer. We develop and deploy technologies to take energy and industry forward. Jowfe Oil Technology (JOT) is a state-owned Libyan petroleum services company providing oilfield chemicals and drilling equipment. Western Atlas was divested from Litton Industries in 1994. The company was renamed Hughes Tool Company in 1915, and Hughes, Jr. inherited it after his father's death in 1924. Cameron International Corporation though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. This saves capital cost and reduces weight borne by offshore platforms. Other innovations developed in Celle include the industry's first steerable motor system, and the AutoTrak Rotary Closed Loop System. Baker Hughes (second era) [54] The acquisition added strong seismic-data operations as well as downhole wireline and testing services. 2 oilfield service provider", "Independent again: Baker Hguhes rolls out new look", "Baker Hughes Closes BJ Services Acquisition", "Baker Hughes unloads fracturing business in private-equity deal", "Vern Jones, Sacramento drilling exploration leader and major philanthropist, dies at 93", "Baker Hughes completes purchase of unit from Norton", "Drilling Technology Drilling optimization more than specific technologies", "Baker Hughes acquires well completion products firm in Scotland", "Baker Hughes to Acquire Petrolite in a Stock Deal", "Baker Hughes acquiring Cornerstone Pipeline Inspection Group", "Baker Hughes 1996 Form 10-K Annual Report", "COMPANY NEWS; Baker Hughes to Buy Teleco Oilfield Services", "TELECO OILFIELD SERVICES SOLD TO HOUSTON COMPANY", "Baker Hughes, Western Atlas Agree to Merge", "Baker Hughes 2000 Form 10-K Annual Report", "Baker Hughes, Western Atlas agree to merge", "Baker Hughes Likely to Buy Western Atlas", "Baker Hughes agrees to buy Western Atlas for $6.2 billion Bid is to stop rival's offer, gain exploration services", "Oil-Services Firm Baker Hughes Buys Western Atlas For $5.5 Billion in Stock", "ARTEK SURFIN CHEMICALS TO ACQUIRE BAKER HUGHES CHEMICAL MANUFACTURING FACILITY", International Association of Oil & Gas Producers. Meanwhile, in 1942, Oil Base Drilling Company was founded by George Miller, and made its first application of oil base mud. The company agreed to pay $44.1 million in fines and penalties. Panametrics entered the ultrasonic flow market with a gas flow meter more than 50 years ago. Those five operations later took the name "Dresser Inc." In October 2010, Dresser Inc., was acquired by General Electric. Offices were opened in Scotland (small town Dice outside of Aberdeen), Egypt, Singapore, Malaysia, Australia, Alaska's North Slope, among others. [31] The new BJ Services merged with ALLIED Services and ALTCEM. During its history, Baker Hughes has acquired and assimilated numerous oilfield pioneers including: Brown Oil Tools, CTC, EDECO, and Elder Oil Tools (completions); Milchem (drilling fluids); EXLOG (mud logging); Eastman Christensen and Drilex (directional drilling and diamond drill bits); Teleco (measurement while drilling); Tri-State and Wilson (fishing tools and services); Aquaness, Chemlink and Petrolite (specialty chemicals), Western Atlas (seismic exploration, well logging), BJ Services (pressure pumping). In 1929, Cicero C. Brown organized Brown Oil Tools in Houston, and patented the first liner hanger in 1937. [3] The company provide a wide range of products and services, covering all areas of oil and gas exploration and production. Coleman Cruz Hughes (born 9 April 1996 [citation needed]) is an American writer.He is a fellow at the Manhattan Institute for Policy Research, an opinion columnist on issues related to race and racism at the online magazine Quillette, a fellow and contributing editor at City Journal, and host of the podcast Conversations with Coleman In 1990, the Baker Hughes acquired Eastman Christensen from Norton Abrasives for $550 million. In May 1997, Western Atlas acquired Sungroup Energy Services, a Canadian well logging, production testing, and completion services provider. Baker further improved the process with the float shoe in 1923. [36]. In 1978, Christensen Diamond Products was acquired by Norton Co. and its name changed to Norton Christensen. [citation needed] References Background. GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. [43], In 2003, the division acquired Cornerstone Pipeline Inspection Group. The company made $4.1 million in "commission" payments between 2001 and 2003, after which the company was awarded an oil-services contract in the Karachaganak Field in Kazakhstan. Introduced in 1997 with Agip S.p.A., the tool is fundamentally different compared to contemporary rivals such as the PowerDrive and the GeoPilot employing the hybrid technique of "pushing and pointing (vectoring) the bit" rather than only "pointing the bit" or only "pushing the bit". [41] In 1996, patented ChipMaster PDCs, known for their efficiency and durability, were built on the success of the Eggbeater product line. The facility built diamond core heads and drilling bits and soon began producing stabilizers, drilling jars and other equipment. In 2001, Baker Hughes acquired OCRE (Scotland) Ltd. from Maritime Well Service, a division of Aker ASA. [29][30], In December 2016, it was announced that the company would shed its North America Land Pressure Pumping division to form a new BJ Services as part of its divestment agreement with GE. In 1998, Dresser merged with its main rival Halliburton, Halliburton sold many of former Dresser non "oil patch" divisions, retaining the M W Kellogg Engineering and Construction Company and the Dresser oil-patch products and services that complemented Halliburton's energy and natural resource businesses. In July 1907, the 34-year-old inventor and entrepreneur was working in Coalinga, California when he was granted a U.S. patent for a casing shoe that enabled drillers to efficiently run casing and cement it in oil wells. Baker was given to Daniel and Mary Browne, his maternal grandparents, to raise. To install click the Add extension button. After collecting data from thousands of bit runs, Hughes introduced the first comprehensive guides to efficient drilling practices in 1960; 1964 saw the introduction of the X-Line rock bits, combining new cutting structure designs and hydraulic jets. Baker Oil Tools merged with Hughes Tool Company in 1987 to form Baker Hughes Incorporated. Over the course of the next 10+ years, Bake invested capital to make Tri State an international company. In 1976, it became Baker International Corporation with almost all of its operations headquartered in Houston. One year later he became a drilling contractor. In 1959, Hughes introduced self-lubricating, sealed bearing rock bits. Tri-State provided milling operation, spears, and packer retrieving. In 1993, Baker Hughes INTEQ was formed by combining five of the In 1987, Baker merged with Hughes forming Baker Hughes and Hughes Drilling Fluids was merged into Milpark. "Crashing Chris" was the university's first three-time All-American. 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