GE & Baker Hughes, a new age merger for an old age companyAfter calling off its merger with Halliburton after 18 months and no regulatory approval in sight, Baker Hughes has attracted another suitor. GE Oil & Gas agreed to merge with Baker Hughes in a $34 billion deal. The merged company, owned 62.5% by GE and 37.5% by Baker Hughes, will continue to operate under the Baker Hughes name and will be listed on the NYSE. The combination creates the world’s second-largest oil and gas service company, with $32 billion in 2015 combined revenue and...
Nov 15, 2016
GE to merge oil and gas unit with Baker HughesMonths after the collapse of its proposed $38 billion acquisition by rival Halliburton, Baker Hughes has agreed to merge with General Electric’s oil and gas division in a complex transaction valued at $25 billion. Baker shareholders will receive a one-time cash dividend of $17.50/share and a 37.5% stake in the combined company, which will be 62.5% owned by GE and traded on the New York Stock Exchange.GE entered the industry in 1994 with the purchase of Italian equipment maker Nuovo...
Nov 01, 2016
GE to merge O&G unit with Baker Hughes in $25B comboMonths after the collapse of its proposed $38 billion acquisition by rival Halliburton, Baker Hughes has agreed to merge with General Electric’s oil and gas division in a complex transaction valued at $25 billion. Baker shareholders will receive a one-time cash dividend of $17.50/share and a 37.5% stake in the combined company, which will be 62.5% owned by GE and trade on the New York Stock Exchange.GE entered the industry in 1994 with the purchase from Eni of Italian equipment maker...
Oct 24, 2016
Who's Hot/Who's Not - April 17, 2013Upgrades:• Key Energy Services Inc. (KEG/$6.95/$5.70/$14.69/$1.06B) from Market Perform to Outperform by FBR Capital.New Coverage:• CARBO Ceramics Inc. (CRR/$85.24/$60.33/$97.86/$1.97B) at Neutral by Goldman Sachs.Downgrades:• C&J Energy Services (CJES/$19.61/$16.15/$25.35/$1.03B) from Buy to Neutral by Global Hunter Securities.• Lufkin Industries Inc. (LUFK/$88.46/$45.11/$88.58/$2.98B) from Sector Outperform to Sector Perform by Howard...
Apr 18, 2013
Who's Hot, Who's Not---As of April 11Upgrades:• BHP Billiton Ltd. (BHP/$64.50/$59.87/$80.54/$171.6B) from Neutral to Overweight by HSBC Securities.• Cabot Oil & Gas (COG/$65.90/$29.20/$71.39/$13.84B) from Neutral to Buy by Bank of America/Merrill Lynch.• Duke Energy Corp. (DUK/$74.41/$59.63/$74.64/$52.43B) from Sector Perform to Outperform by RBC Capital Markets.• FMC Technologies Inc. (FTI/$51.70/$36.89/$55.49/$12.28B) from Sector Perform to Outperform by RBC Capital Markets.• Hess...
Apr 11, 2013
Who's Hot/Who's Not - As Of February 19Upgrades:• Alpha Natural Resources Inc. (ANR/$9.50/$5.28/$20.70/$2.1B) from Hold to Buy by Dahlman Rose.• Buckeye Partners LP (BPL/$53.31/$44.37/$62.66/$5.23B) from Hold to Buy by Argus.• CARBO Ceramics Inc. (CRR/$90/$60.33/$110.66/$2.07B) from Neutral to Buy by Global Hunter Securities.• Chesapeake Energy Corporation (CHK/$20.36/$13.32/$26.09/$13.12B) from Hold to Buy by Stifel Nicolaus.• Core Labs NV...
Feb 21, 2013
Who's Hot/Who's Not - As of February 13Upgrades:• CARBO Ceramics Inc. (CRR/$86.48/$60.33/$110.66/$1.99B) from Neutral to Buy by Global Hunter Securities.• Core Labs NV (CLB/$132.09/$94.72/$143.21/$6.19B) from Market Perform to Outperform by FBR Capital.• Halliburton Co. (HAL/$40.84/$26.28/$41.44/$37.9B) from Neutral to Buy by Global Hunter Securities.• Halliburton Co. (HAL/$40.84/$26.28/$41.44/$37.9B) from Hold to Buy by MLV & Co.• Helmerich & Payne Inc....
Feb 13, 2013
Who's Hot/Who's Not - November 1, 2012Upgrades:• Hercules Offshore, Inc. (HERO/$4.86/$2.91/$5.57/$770.66M) from Hold to Buy by Dahlman Rose.• Helmerich & Payne Inc. (HP/$48.09/$38.71/$68.60/$5.08B) from Sector Perform to Outperform by RBC Capital Markets.• Lufkin Industries Inc. (LUFK/$54.04/$45.11/$85.68/$1.82B) from Market Perform to Market Outperform by Howard Weil.• Schlumberger Ltd. (SLB/$70.10/$59.12/$80.78/$93.09B) from Market Outperform to Focus Stock by Howard...
Nov 01, 2012
Who's Hot, Who's Not - October 12, 2012Upgrades:• Atwood Oceanics Inc. (ATW/$46.07/$34.93/$49.75/$3.01B) from Neutral to Buy by Guggenheim.• Approach Resources Inc. (AREX/$28.12/$20.56/$39.18/$942.69M) from Neutral to Overweight by JP Morgan.• Chevron Corp. (CVX/$113.35/$92.29/$118.53/$22.41B) from Market Perform to Market Outperform by Howard Weil.• FMC Technologies Inc. (FTI/$44.18/$36.89/$55.19/$10.53B) from Neutral to Buy by Guggenheim.• Lufkin Industries Inc....
Oct 12, 2012
Who's Hot/Who's Not - October 10, 2012Upgrades:• Atwood Oceanics (ATW/$45.74/$34.93/$49.75/$2.99B) from Neutral to Buy by Guggenheim.• FMC Technologies (FTI/$43.91/$36.89/$55.19/$10.47B) from Neutral to Buy by Guggenheim.New Coverage:• Basic Energy Services (BAS/$11.16/$8.52/$23.41/$454.54M) at Hold by Wunderlich.• C&J Energy Services (CJES/$18.98/$15.61/$23.32/$1B) at Outperform by William Blair.• Cameron International (CAM/$55.16/$38.38/$60/$13.58B)...
Oct 10, 2012
Who's Hot, Who's Not - Jan. 06, 2012Upgrades:• Approach Resources (AREX/$29.89/$14.14/$34.93/$836.42M) from Hold to Buy at TheStreet Ratings.• Atwood Oceanics Inc. (ATW/$39.80/$30.64/$48.84/$2.58B) from Mkt Perform to Outperform by Morgan Keegan.• Bill Barrett Corp. (BBG/$34.27/$31.96/$52.13/$1.60B) from Hold to Buy at Stifel Nicolaus.• Comstock Resources Inc. (CRK/$15.66/$13.69/$33.63/$728.97M) from Perform to Outperform by Oppenheimer.• Endeavour Intl...
Jan 06, 2012
Who's Hot, Who's Not (Dec. 22, 2011)Analysts' view on select stocks
(Symbol/Recent Price/52-Wk Low/52-Wk High/Market Cap)
Upgrades:
• Atwood Oceanics Inc. (ATW/$37.21/$30.64/$48.84/$2.53B) from Mkt Perform to Outperform by Morgan Keegan.
• Basic Energy Services (BAS/$17.25/$12.49/$37.79/$772.42M) from Hold to Buy by Dahlman Rose.
• Fleetcor (FLT/$28.52/$24.28/$38.00/$2.37B) from Neutral to Overweight by JP Morgan.
• Fleetcor (FLT/$28.52/$24.28/$38.00/$2.37B) from Market Perform to Outperform by Wells Fargo.
•...
Dec 22, 2011
Lufkin Industries acquires Pentagon Optimization ServicesLufkin Industries Inc., based in Lufkin, Texas, has signed a purchase agreement to acquire Pentagon Optimization Service Inc. Pentagon, based in Red Deer, Alberta, is a diversified well optimization company that provides a wide range of products and services including plunger lift systems and well engineering and testing.
The deal is expected to close in September 2011. Terms were not disclosed.
Lufkin sells and services oilfield pumping units, well automation systems, gas lift and plunger...
Aug 12, 2011
OFS - A&D News Briefs - May 20, 2020Private equity firm KPS Capital Partners agreed to acquire Baker Hughes Co.’s Lufkin rod solutions business for an undisclosed amount. Based in Missouri City, Texas, Lufkin was founded in 1902 and acquired in 2013 by GE Oil & Gas, which merged with Baker Hughes Inc. in 2017. Lufkin’s power transmission business is not included in the transaction and will remain part of Baker Hughes. Closing is expected in mid-year. Borr Drilling sold two standard jackups, the Dhabi II and the Paragon...
May 20, 2020
Service Company Briefs - September 29, 2011- A sub of Baker Hughes acquired a minority equity stake in Verdande Energy AS, a sub of Verdande Technology AS, and will become a user of Verdande Technology's case-based reasoning software platform for oil and gas applications. This CBR technology, called DrillEdgeâ„¢, is a real-time intervention tool constructed on the principle of case-based reasoning, a problem-solving process that identifies similar issues from relevant wells drilled in the past and offers similar solutions. This...
Sep 29, 2011