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BJ Services Company was a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry. Pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include ...
In 1990, the company sold a 71% stake in BJ Services via an initial public offering. On April 28, 2010, Baker Hughes re-acquired BJ Services. [51] In 2017, after the division suffered market share losses, the company sold a majority interest in BJ Services to private equity firms to obtain approval for the merger with GE Oil and Gas. [52]
HESP: A subsidiary established in 1999 in partnership with Halliburton Energy Service. Its main mission is to conduct logging operations in vertical and horizontal wells. BJSP: A joint venture founded in 1986 in collaboration with BJ Services, an international company based in the United States.
Baker Hughes Inc. (BHI), the world's third-largest oilfield services company, today agreed to snap up smaller rival BJ Services Co. (BJS) for $5.5 billion in cash and stock in an old-school merger.
Oilfield service companies may produce, maintain, and repair equipment used in oil extraction and oil transportation. [1] In 2019, the global oilfield services market was US $ 267.8 billion. [ 2 ]
The company performed a series of pre-commissioning services on the field's flowlines and umbilicals. Akpo achieved first production in March 2009, and peak production of 175,000 barrels (27,800 m 3 ) of condensate a day and 320 million cubic feet (9.1 million cubic metres ) per day of gas is expected during the fourth quarter of 2009.
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