Silvia Quintanilla's List: Baker Hughes

• solutions for our customers to advance their reservoir performance. The new
• Baker Hughes Incorporated (NYSE: BHI) announced today that it will organize its global operations by geography.
• "The organization of Baker Hughes by geography and product lines is a continuation of the changes we have made to strengthen our client-focused operations by moving executive management into the countries in which we conduct our business.
• Our product line organizations will continue to be responsible for product development, technology, marketing and delivery of Best-in-Class solutions for our customers to advance their reservoir performance. The new organization is expected to improve cross product line technology development, sales and integrated operations."

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• Tumbling crude prices, frozen credit markets and forecasts for meager energy  consumption have forced oil and gas producers worldwide to scale back spending.
• That means less work for companies like Baker Hughes, which assist producers  with drilling, reservoir management and other services

• BakerHughesDirect is the interactive portion of the Baker Hughes Web  site. It is designed to provide customers with tailored, e-business solutions  from Baker Hughes’ seven operating divisions. Launched in 2001,  BakerHughesDirect provides solutions from all our divisions
• • Issue purchase orders and obtain order confirmation

• opening a $42 million research center in northwest Houston to develop ways to  produce oil and natural gas in harsh environments.
• Staffed with 600 scientists and engineers

• Baker Hughes is the world's third-largest oil field services company. Like  rivals Halliburton and Schlumberger, it works under contract with oil companies  to provide tools and services that take an oil well from discovery to  production.
• as they try to court more business with oil-rich national oil companies in the  Middle East and elsewhere

• The ceremony Tuesday marked the completion of the research center's second  phase, which houses the headquarters for the company's ProductionQuest unit,  other Baker Oil Tools offices, test labs for both divisions and control rooms  that can monitor the behavior of producing wells in any corner of the world.  
• A first phase, opened in January, has a machining shop and massive concrete test  cells that can simulate pressures up to 40,000 pounds per square inch and  temperatures up to 700 degrees

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• One reason Baker Hughes is lagging most of its peers in international growth  is the Deferred Prosecution Agreement with the U.S, Department of Justice that  it’s been operating under since April, 2007, Chad Deaton, the chairman and chief  executive, said during a conference call on Jan. 30 to discuss earnings.

   

  The company signed the DPA after accepting responsibility for a subsidiary’s  bribing a oil official in Kazakhstan, in violation of the Foreign Corrupt  Practices Act of 1977. Under the DPA, which expires in April, 2009, Baker Hughes  agreed to create and maintain an anti-bribery compliance program and to not  contest criminal proceedings once they are brought against the company by the  Justice Department.

• with one of the only product line-focused corporate organizations among its oil  field services peers—
• Headquartered in Houston, Baker Hughes is an oil field services company with  operations in more than 90 countries. As of November, 2007, it had a stock  market capitalization of over $26 billion, ranking third among U.S.-based oil  field services companies, behind only Schlumberger ($115 billion) and  Halliburton (HAL; $34 billion), and ahead of Weatherford International (WFT; $21 billion).