Baker Hughes

A contest where teams of college students design and build an automated drilling rig able to deal with hazardous obstacles in a test block, showed how a small change can be engineered to matter.

The firm hopes to remedy the cost-, labor-, and time-intensive process of executing offshore projects through deployment of “Subsea Connect,” which it says can cut project development costs by 30%.

The deal would raise nearly $4 billion for GE, which plans to reduce its stake in the oilfield services company from 62.5% to at least 50.1% after the transactions. It had previously announced in June its intention to sell its stake over a 2- to 3-year period.

BHGE is developing an analytics and machine-learning approach that offers descriptive and predictive insights on frac hits, with the aim of eventually offering a real-time monitoring capability to be deployed during frac jobs.  

The SPE Liquids-Rich Basin Conference in Midland, Texas, merged topics that have dominated recent industry discussions: technologies centered on big data, interwell communication, and Permian Basin production.

The union marks the first time an international company has taken a direct equity stake in one of ADNOC’s service companies. BHGE will expand its presence in UAE, while ADNOC will gain access to BHGE technological expertise and proprietary equipment.

What do 60,000 sensors on 1,200 pieces of equipment add up to? Hopefully, hundreds of millions of dollars in savings.

GE announced today that it is spinning off Baker Hughes in its strategic plan for growth and shareholder value creation. It plans to focus on aviation, power, and renewable energy.

Cheniere Energy requested issuance of the feedstock permit from FERC by 29 June. The FID for Train 3, estimated at approximately $3 billion, was announced last month. Bechtel got the green light to proceed with EPC work, subcontracting with BHGE for the gas turbines to drive compressors.

Wearable computers are turning heads in the oil and gas industry and appear to be on a trajectory for widespread adoption.