Baker Oil Tools expanded to Houston in the 1920s, and although buffeted by the Great Depression, survived and continued growing into the 1960s. [17], In 2006, Baker Hughes sold its 30% share of WesternGeco to Schlumberger for $2.4 billion in cash. 7102 as a service company owned by the National Oil Corporation (NOC). INTEQ also originally incorporated the drilling fluids division of Baker Hughes which consisted of Milpark and others. Meanwhile, in 1942, Oil Base Drilling Company was founded by George Miller, and made its first application of oil base mud. [57]. Frank Langton Christensen was an American athlete. In 1903, he introduced the offset bit for cable tool drilling to enable casing wells in hard rock and in 1912 the cement retainer that allowed casing to be cemented in the wells. In 1971, Baker Oil Tools acquired Milchem. [17], In 2006, Baker Hughes sold its 30% share of WesternGeco to Schlumberger for $2.4 billion in cash. 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. Well logging, also known as borehole logging is the practice of making a detailed record of the geologic formations penetrated by a borehole. The company agreed to pay $44.1 million in fines and penalties. "Crashing Chris" was the university's first three-time All-American. In 1970, Baker Oil Tools acquired Lynes, Inc., which produced liner hangers and other completion equipment. Baker Hughes is organized in Delaware and headquartered in Houston. To receive approval from the United States Department of Justice, the company sold its Hughes Tool diamond bit business. Well logging is performed in boreholes drilled for the oil and gas, groundwater, mineral and geothermal exploration, as well as part of environmental and geotechnical studies. 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. In 1985, the FlexLock Liner Hanger was introduced, extending the performance range and functionality of liner hanger systems. It is a leading worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. After receiving all-state honors at Granite High School in baseball, football, and basketball, Christensen played fullback at the University of Utah. At that time, Wm. See the full list at Craft. Over the course of the next 10+ years, Bake invested capital to make Tri State an international company. In 1987, Baker merged with Hughes forming Baker Hughes and Hughes Drilling Fluids was merged into Milpark. Genesis ZX PDCs followed with new Zenith cutters. It was named after founder Howard R. Hughes Sr.. [23], In November 2014, the company entered talks with Halliburton over a merger deal valued at $34.6 billion. [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. It was a leader in mud logging. [26] [27], At the end of October 2016, the company was in negotiations with General Electric to combine with GE Oil and Gas. Reuben C. Baker was a farm boy with a third grade education who followed his brother Aaron Alphonso Baker into the oil business. [42], Petrolite was formed in 1930 from the merger of William Barnickel's Tret-O-Lite with Petroleum Rectifying Company of California (PETRECO). [37][38] In 1972, Baker Hughes acquired EXLOG. This saves capital cost and reduces weight borne by offshore platforms. The company was renamed Hughes Tool Company in 1915, and Hughes, Jr. inherited it after his father's death in 1924. In 1997, Baker Hughes acquired Petrolite for $693 million in stock. The merger was approved by both companies' stockholders and was waiting on approval from several jurisdictions; however, on April 6, 2016, the United States Department of Justice sued to block the transaction. In addition, Baker Hughes acquired Vetco Services for $37 million and EDECO Petroleum Services for $12.1 million the same year. In 1977, the Celle engineering and manufacturing team introduced the Navi-Drill line of downhole drilling motors, which has led the drilling industry in performance and reliability for three decades. In the fourth quarter of 1997, the company acquired Heartland Kingfisher, a Canadian well-logging company. These executives were replaced with Baker executives from Houston and the project of moving Tri State to Houston was put into action. In 1993, Milpark became a product line within Baker Hughes INTEQ. One year later he became a drilling contractor. [14] [15], In 1999, the only new seismic technology that was being introduced was the 4-dimensional seismic survey monitoring. [45][46][47] Teleco had approximately 1,300 employees, including 430, in Meriden, Connecticut.[48]. Over the course of the next 10+ years, Bake invested capital to make Tri State an international company. Offices were opened in Scotland (small town Dice outside of Aberdeen), Egypt, Singapore, Malaysia, Australia, Alaska's North Slope, among others. In 1985, Baker International acquired the drilling fluids division of Newpark Resources and merged it with Milchem's mud division to form Milpark. The merger was consummated in July 2017. His first job was driving a horse team to haul oil for drillers. Our innovative solutions help oil and gas operators lower costs, reduce risk, and improve productivity. On May 1, 2016, the companies terminated the merger agreement. In the mid-1930s, the company mined barites in conjunction with the Magnet Cove Barium Corporation (later called Magcobar). In 1970, Baker Oil Tools acquired Lynes, Inc., which produced liner hangers and other completion equipment. In 1984, Baker dismissed several of the top executives of Tri State, headquartered in Bossier City, La. Its geometric style is a signal of the technological core of what they do and its infinite possibilities. In 1992, Baker Oil Tools introduced the ZXP Liner Top Packer, with expandable metal seals, which set the stage for development of expandable screens, casing systems and liner hangers. Jowfe Oil Technology (JOT) is a state-owned Libyan petroleum services company providing oilfield chemicals and drilling equipment. [55], In June 1989, Baker Hughes acquired Bird Machine Company for $47.5 million. [43], In 2003, the division acquired Cornerstone Pipeline Inspection Group. Tri-State provided milling operation, spears, and packer retrieving. Milchem Inc. was formed in 1963 to manufacture and market drilling fluids and oilfield chemicals. Baker Hughes Company is an American international industrial service company and one of the world's largest oil field services companies. In July 2017, this division was merged with Baker Hughes. [14][15], In 1999, the only new seismic technology that was being introduced was the 4-dimensional seismic survey monitoring. This innovation launched the business that would become Baker Oil Tools. Western Atlas specialized in finding oil by mapping geological formations with sound waves and using wires to manipulate tools and gauges in oil and natural-gas wells. S. Barnickel & Co. owned 47% of Petrolite. [56], In 2020, Sterling Auxiliaries & Artek Surfin Chemicals have acquired Baker Hughes' Sand Springs facility. [32], In September 2019, GE announced it had sold some of its shares in Baker Hughes, therefore losing its majority control of the company. Baker Hughes is an energy technology company providing solutions for energy and industrial customers. During its 80-year history prior to its merger with Baker Hughes, Baker Oil Tools had only three chief executives. The company agreed to pay $44.1 million in fines and penalties. In 1998, Western Atlas was acquired by Baker Hughes. Those five operations later took the name "Dresser Inc." In October 2010, Dresser Inc., was acquired by General Electric. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, a Schlumberger Company.' We seek to understand the fundamental principles underlying protein structure and function, to encode these principles in the Rosetta computer program, and to use them to create a new world of de novo designed proteins to address 21st century challenges in health and technology. Reuben Carlton "Carl" Baker, Sr. was an American oil industry drilling pioneer. [43], In 2003, the division acquired Cornerstone Pipeline Inspection Group.[44]. During the fourth quarter of 1997, Western Atlas acquired Geosignal, a seismic data processing company; Seismic Resources, a provider of nonexclusive seismic surveys; and ParaMagnetic Logging, a well-logging research company. In 1993, Baker Hughes INTEQ was formed by combining five of the Baker Hughes Incorporated is an oil and gas drilling and refinement company. It will enhance any encyclopedic page you visit with the magic of the WIKI 2 technology. [39] Baker Hughes combined Eastman Christensen and the remainder of Hughes Tools to form Hughes Christensen. After Walter Sharp died in 1912, Hughes purchased Sharp's half of the business. 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. In 1976, it became Baker International Corporation with almost all of its operations headquartered in Houston. [45] [46] [47] Teleco had approximately 1,300 employees, including 430, in Meriden, Connecticut. 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. In 1990, the Baker Hughes acquired Eastman Christensen from Norton Abrasives for $550 million. [37] [38] In 1972, Baker Hughes acquired EXLOG. After a hiatus during World War II, the company resumed grinding operations using barite from a mine in Missouri and conducted mud sales through independent distributors. Baker died only a few weeks later after a brief illness at the age of 85. In 1959, Hughes introduced self-lubricating, sealed bearing rock bits. In 1957, Frank Christensen's Christensen Diamond Products opened its manufacturing plant in Celle, Germany. [33] Baker Hughes subsequently divested from GE becoming an independent company once again. In 1985, Baker International acquired the drilling fluids division of Newpark Resources and merged it with Milchem's mud division to form Milpark. Western Atlas specialized in finding oil by mapping geological formations with sound waves and using wires to manipulate tools and gauges in oil and natural-gas wells. 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. Baker Hughes is the combination of many companies that have developed and introduced technology to serve the petroleum service industry. In May 1997, Western Atlas acquired Sungroup Energy Services, a Canadian well logging, production testing, and completion services provider. Baker Hughes is the combination of many companies that have developed and introduced technology to serve the petroleum service industry. Gyrodata is a leading provider of technology and services, including directional drilling, gyroscopic surveying, and wellbore logging, to the upstream oil and gas industry. The drill pipe twisted off on the first test, but the second was extremely successful. Each time, Hughes asked the drilling crew to leave the rig floor, pulled the bit from a locked wooden box, and then his associates ran the bit into the hole. Background. 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. Baker Hughes Company is an international industrial service company and one of the world's largest oil field services companies. Baker Hughes is the combination of many companies that have developed and introduced technology to serve the petroleum service industry. We develop and deploy technologies to take energy and industry forward. In 1957, Frank Christensen's Christensen Diamond Products opened its manufacturing plant in Celle, Germany. This division was called 'INTEQ drilling fluids' which provided the premier brands in oil and gas well drilling muds and wellbore cleaning fluids. [ citation needed ]. In 1958, the Engineering and Research Laboratory was enlarged to accommodate six laboratory sections that housed specialized instruments, such as a direct reading spectrometer and x-ray diffractometer. INTEQ provides directional Drilling, MWD/LWD, surface logging (mud logging) and coring services. I use WIKI 2 every day and almost forgot how the original Wikipedia looks like. Congratulations on this excellent venture… what a great idea! These executives were replaced with Baker executives from Houston and the project of moving Tri State to Houston was put into action. [33] Baker Hughes subsequently divested from GE becoming an independent company once again.[34]. It was named after founder Howard R. Hughes Sr..[23], In November 2014, the company entered talks with Halliburton over a merger deal valued at $34.6 billion. [21] On June 18, 2012, the strike was called off after the parties agreed to a new collective agreement. 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. It was a leader in mud logging. In 1963, the company acquired Aquaness, and in 1964 the combination became Milchem. In 1963, the company acquired Aquaness, and in 1964 the combination became Milchem. Logging while drilling (LWD) is a technique of conveying well logging tools into the well borehole downhole as part of the bottom hole assembly (BHA). 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. [4]. In 2003, these product lines were spun off to form the separate entity of Baker Hughes Drilling Fluids (BHDF), with INTEQ continuing as the Drilling and Evaluation (D&E) company. Smith International ceased to exist as an independent company following the merger with Schlumberger. By 1990 the move was completed. [10] The casing shoe revolutionized cable tool drilling by ensuring the uninterrupted flow of oil through the bottom of the casing in the well.[11]. Baker Hughes, a GE company 2017–2019 In 2017, Baker Hughes merged with GE Oil & Gas to become Baker Hughes, a GE Company (BHGE). [56], In 2020, Sterling Auxiliaries & Artek Surfin Chemicals have acquired Baker Hughes' Sand Springs facility.[57]. Baker further improved the process with the float shoe in 1923. Reuben C. Baker was a farm boy with a third grade education who followed his brother Aaron Alphonso Baker into the oil business. [25], There were concerns that the merger would affect competition and prices in the oilfield service industry. In 2001, Baker Hughes acquired OCRE (Scotland) Ltd. from Maritime Well Service, a division of Aker ASA. This innovation launched the business that would become Baker Oil Tools. In 1984, Baker dismissed several of the top executives of Tri State, headquartered in Bossier City, La. The company provides the oil and gas industry with products and services for oil drilling, formation evaluation, completion, production and reservoir consulting. 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). The symbol captures the ever-changing nature of the industry and Baker Hughes’ leadership position in the era of energy transition. In 1994, Baker Oil Tools introduced multilateral completion systems, which enabled operators to install completion tools and perform selective intervention work in multiple horizontal sections from a common main borehole. They conducted two secret tests on a drilling rig in Goose Creek, Texas. In a sign of the times, Baker Hughes has announced a rebranding effort that will ditch the company’s iconic light-blue color palette for shades of green. During its history, Baker Hughes has acquired and assimilated numerous oilfield pioneers including: Brown Oil Tools, CTC, EDECO, and Elder Oil Tools (completions); Milchem and Newpark (drilling fluids); EXLOG (mud logging); Eastman Christensen and Drilex (directional drilling and diamond drill bits); Teleco (mea… As of September 2020, GE is no longer majority owner of Baker Hughes, owning less than 37% and intending to completely divest its ownership stake over the next few years. [24] If consummated, it would have been the largest merger in the history of the petroleum industry. A new collective agreement 3, 2017, this division was called 'INTEQ drilling fluids merged! Office locations across 41 countries adapted to Genesis HCR bits for steerable motors with patented EZSteer depth-of-cut control.. 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