In 1907, Reuben C. Baker invented the casing shoe. This revolutionary invention advanced the drilling technology. In 1909, Howard R. Hughes, Sr invented the first casing shoe in the history of drilling. For more than 80 years, Baker International and Hughes Tool Company have been industry leaders in roller cone drill bits. In 1987, Baker International and Hughes Tool Company merged to form Baker Hughes.
Since then, Baker Hughes has acquired and integrated a series of oilfield technology companies, including: Brown Oil Tools, CTC, EDECO, Elder Oil Tools (completion services); Milchem ??and Newpark (drilling fluids); EXLOG (mud logging); Eastman Christensen and Drilex (directional drilling and bits); Teleco (logging while drilling); Tri-State and Wilson (fishing tools and services); Centrilift (artificial lift); Aquaness, Chemlink and Petrolite (s chemicals); Western Atlas (seismic exploration and logging).
In 2014, Baker Hughes acquired Perfomix, a company that develops oilfield data transmission and analysis software, strengthening Baker Hughes's competition in modern, visual, and standardized platforms for tool integration, real-time data monitoring, and analysis. force.
In the evening news of November 17, 2014, Beijing time, oil service provider Halliburton Company and its competitor Baker Hughes announced today that Halliburton will acquire the latter for US$34.6 billion.
According to the transaction agreement reached by the two parties, Halliburton will acquire Baker Hughes at a price of US$78.62 per share, with payment in cash and stock. The transaction is expected to be completed in the second half of 2015. Baker Hughes shareholders will receive $19 in cash and 1.12 Halliburton shares for each share they own.