Baker Hughes Co

Pulsar Helium Inc. has signed and accepted a firm proposal from Chart Energy & Chemicals, a wholly-owned subsidiary of Baker Hughes, to supply equipment for its proposed Rare Gas Hub in Minnesota at an aggregate value of $85.5 million, paid in stages on achievement of applicable milestones before taxes, duties, shipping and commissioning. The proposal covers a helium purification and liquefaction plant with capacity of 861 liters per hour, equivalent to approximately 7.5 million liters of liquid helium annually at continuous nameplate operation, and a CO2 plant with 300-tonne-per-day capture capacity, with CO2 storage and loading to be addressed separately. An upfront payment of US$5.025 million is payable on signing and TSX Venture Exchange approval, satisfied from existing cash resources, followed by a US$8.55 million Milestone 2 payment scheduled for January 31, 2027, which would authorize Chart to begin procuring long-lead items; if unpaid by that date the project automatically enters a suspension period of up to 180 days. Pulsar, which reports cash resources of US$25.2 million, said it continues to advance financing alternatives for the remaining payments and wider development costs, and is separately progressing discussions on a prospective plant site in Lake County, Minnesota. CEO Thomas Abraham-James called the signing a major milestone, noting the planned plant's nameplate capacity of approximately 7.5 million litres of liquid helium and over 100,000 tons of liquid CO2 annually.

Baker Hughes reported accelerating growth in its Industrial & Energy Technology business, with first-half 2026 IET bookings surging 79% to nearly $12 billion as part of total company orders of $18.66 billion, up 38% from $13.49 billion a year earlier. IET revenues rose 7% year over year to $6.64 billion in the six months ended June 2026, while segment EBITDA climbed 25% to $1.36 billion, and the company's remaining performance obligations reached a record $40.1 billion, including $37.1 billion from IET. Management raised full-year 2026 IET order guidance to $17.5-$19.5 billion and said it expects Horizon 2 orders to exceed $45 billion. Second-quarter adjusted EBITDA margin hit a record 18.3%, up from 17.6% in the first quarter, and free cash flow rose to $1.11 billion from $210 million, while management guided to 2026 revenues of $27.35 billion and adjusted EBITDA of $4.85 billion. The July 2026 Chart acquisition expands Baker Hughes into thermal management, air and gas handling, carbon capture and lifecycle services, with management targeting $325 million of annualized cost synergies by year three.

The total number of active oil and gas drilling rigs in the United States rose this week to 599, up 50 from the same time last year, according to new Baker Hughes data published on Friday. Within that total, the number of active oil rigs rose by 3 to 455, which is 31 above year-ago levels, while gas rigs rose by 1 to 135, 18 more than this time last year, and miscellaneous rigs stayed the same at 9. In the Permian Basin, the active rig count rose by 1 to 270, 17 rigs above year-ago levels, while the Eagle Ford lost a rig to land at 50, still 5 more than this same time last year. Separately, EIA data showed weekly U.S. crude oil production fell for the second week in a row in the week ending September 18, averaging 13.939 million bpd, down slightly from 13.944 million bpd the prior week but up 438,000 bpd from a year ago. Primary Vision's Frac Spread Count rose again in the week ending September 18, gaining 3 crews to reach 187, and oil prices were down on Friday prior to the data release, with Brent trading at $103.83, down 2.60%, and WTI at $92.12, down 2.63%.

Baker Hughes Company raised its 2026 financial guidance on September 9, reflecting the impact of its $13.6 billion acquisition of Chart Industries, a global manufacturer and servicer of highly engineered equipment focused on the industrial gas and clean energy markets. The oilfield services company now expects revenue of $28.50 billion to $30.30 billion in 2026, up from its prior forecast of $26.65 billion to $28.05 billion, and raised its adjusted EBITDA outlook to $4.88 billion to $5.48 billion from an earlier range of $4.6 billion to $5.1 billion. Baker Hughes expects Chart to add $1.85 billion to $2.25 billion in revenue and $300 million to $400 million in adjusted EBITDA this year, a figure below the $400 million mark projected by analysts, and the company said it expects 55% to 65% of Chart's segment core profit to be realized in the fourth quarter while near-term margins face pressure from the timing of LNG equipment volumes and soft hydrogen demand. UBS analyst Josh Silverstein trimmed his price target on Baker Hughes from $71 to $70 and maintained a Neutral rating, noting that integration costs and near-term margin pressure weigh on the deal's near-term outlook. The Chart acquisition, completed in July, is part of Baker Hughes' strategy to expand beyond traditional oilfield services into LNG, gas infrastructure and power generation, and orders for its industrial and energy technology segment rose to a record $7.1 billion in the second quarter.

National Energy Services Reunited Corp. is participating in Middle East tenders totaling roughly $3-$4 billion, including several large multiyear opportunities, as it aims to accelerate its 3B3 strategy targeting a $3-billion revenue run rate within three years. Management said the contracts often run for five, seven or even nine years, supporting backlog growth and longer-term revenue visibility, and believes stronger contract wins can accelerate that timeline. NESR has maintained uninterrupted service through the ongoing Middle East conflict, which has disrupted energy activity across the region with project shutdowns in Iraq and LNG interruptions in Qatar, and its operating track record has qualified it to bid on larger contract lots previously dominated by bigger service providers. The company has emerged as the region's largest hydraulic-fracturing company while building scale across several production and completion service lines. Other providers stand to benefit from a recovery in Middle East energy spending, with SLB N.V. citing stronger customer engagement around well intervention, shut-in well recovery and infill drilling in markets such as the United Arab Emirates and Qatar, and Baker Hughes Company highlighting major awards for electric motor-driven compression trains tied to a large offshore Middle East field and Aramco's Uthmaniyah gas development. NESR shares have gained 198.8% over the past year compared with the industry's 66.5% growth, and the stock trades at a trailing 12-month EV/EBITDA of 10.33X versus the industry average of 9.09X.

Baker Hughes Company and Venture Global, Inc. are expanding their collaboration through a new set of equipment orders tied to Venture Global's LNG growth plans. Under the award, Baker Hughes will provide 13 gas compression systems for Venture Global's Cloud Connector Pipeline project in Louisiana, along with four liquefaction blocks containing eight liquefaction modules to support additional LNG production capacity at the Plaquemines LNG facility. Venture Global, described as America's second-largest LNG exporter, has been working to increase the capacity of Plaquemines LNG to 58 million metric tons per annum, and the Cloud Connector Pipeline is an important part of that expansion strategy because the added capacity requires reliable access to natural gas supplies. Venture Global CEO Mike Sabel said Baker Hughes has been a trusted partner across the company's LNG developments, while Baker Hughes Chairman and CEO Lorenzo Simonelli said the company is proud to work alongside Venture Global as it expands Plaquemines LNG. The awards align with Baker Hughes' strategy to diversify beyond its traditional oilfield services business, following its acquisition of Chart Industries, and the inclusion of Chart cold boxes in the liquefaction award underscores the value of that deal. Baker Hughes will need to deliver sustained order growth and healthy margins across the combined business to justify the $13.6 billion price it paid for Chart Industries, while Venture Global faces financial and execution risks as its multi-billion-dollar expansion projects weigh on its balance sheet.

Baker Hughes Company announced on September 3 that it secured a multi-year contract with Pakistan's Oil & Gas Development Company to maximize production from mature oil and gas fields, though financial terms were not disclosed. Under the agreement, Baker Hughes will assess over 120 wells across OGDC's Tando Alam oil complex and Pirkoh field, then implement solutions including AI-enabled chemical injections and well workovers. Amerino Gatti, executive vice president of oilfield services & equipment, said the collaboration will help OGDC unlock untapped domestic energy supply. The contract aligns with Baker Hughes' strategy to diversify beyond drilling, as its Q2 orders surged 49% year-over-year to a record $10.5 billion, including $7.1 billion in industrial and energy technology orders. However, the company faces risks from Pakistan's challenging economic environment and potential declines in global upstream spending.

Baker Hughes has agreed to supply 76 NovaLT16 gas turbines to Dynamis Power Solutions for hypermobile power generation projects, targeting fast deployable power for data centers and oil and gas operations. The order, worth about 1.3 gigawatts of capacity, aligns with Baker Hughes' push into distributed power and digital infrastructure, which analysts see as key to higher-margin, recurring revenue streams. Investors should watch how many of the 76 units are placed into leasing contracts by Accelerated Mobile Power over the next 12 to 18 months, as leasing uptake and service activity will indicate the recurring revenue potential tied to this package.

Baker Hughes Company is emerging as a key winner from the AI boom, with its Industrial & Energy Technology segment orders doubling year-over-year to a record $7.1 billion in the second quarter. The company raised its full-year 2026 IET orders guidance to $17.5 billion to $19.5 billion, and the segment has surpassed its 20% EBITDA margin target. Baker Hughes is expanding gas turbine and generator capacity, which could support nearly $5 billion in annual Power Systems revenue by 2029. It recently secured an order for 76 NovaLT16 gas turbines from Dynamis Power Solutions, capable of generating 1.3 gigawatts of mobile power. The acquisition of Chart Industries, completed in July, is expected to add $325 million in annualized cost synergies within three years. Morgan Stanley has named Baker Hughes its top pick in the energy services sector with a $70 price target. However, risks include potential declines in oil and gas spending and delays in data-center projects.

Baker Hughes reported second-quarter 2026 adjusted earnings of 64 cents per share, beating the Zacks Consensus Estimate of 51 cents by 25.5%, while revenues of $6.74 billion surpassed the consensus mark of $6.49 billion by 3.9% but declined 2% year over year. Orders across all business segments totaled $10.5 billion, up 49% from $7.03 billion a year ago, driven by record order intake from the Industrial & Energy Technology segment, and remaining performance obligations reached $40.06 billion, up 18% year over year. The company completed its acquisition of Chart Industries and expects Chart to become a third reporting segment beginning in the third quarter of 2026, with run-rate cost synergies projected at $95 million in year one, $230 million in year two, and $325 million in year three. For the third quarter of 2026, Baker Hughes expects revenues of $6.57 billion to $7.17 billion and adjusted EBITDA of $1.12 billion to $1.30 billion, while full-year 2026 guidance calls for revenues of $26.65 billion to $28.05 billion and adjusted EBITDA of $4.6 billion to $5.1 billion. The company raised its IET order guidance to $17.5 billion to $19.5 billion and increased its Horizon 2 IET order target to more than $45 billion for 2026 through 2028.

Baker Hughes has secured a multi-year technology collaboration with Kuwait Oil Company and a substantial subsea systems contract for Indonesia's Kutei Northern Hub, including 17 deepwater trees, digital monitoring solutions, and a new research center in Kuwait's Ahmadi Innovation Valley. These awards deepen Baker Hughes' role in AI-enabled production optimization and large offshore gas developments, underscoring its push toward higher-tech, service-intensive energy infrastructure work. The Indonesia contract ties directly into the company's push toward digital, AI-enabled, and life cycle service contracts that feed backlog and recurring revenue. Baker Hughes' narrative projects $30.8 billion revenue and $3.3 billion earnings by 2029, requiring 3.3% yearly revenue growth and about a $0.2 billion earnings increase from $3.1 billion today. Some pessimistic analysts were assuming about US$34.7 billion of revenue and US$3.5 billion of earnings by 2029, showing how far opinions differ.

Kodiak Gas Services reported record second-quarter 2026 results, with revenue up 21% year-over-year to $391 million and adjusted EBITDA up 22% to a company record of $217 million. Adjusted net income was $54 million, or $0.55 per diluted share. Management raised full-year guidance for adjusted EBITDA to $830 million to $860 million and discretionary cash flow to $570 million to $600 million. The company also detailed plans to expand its power infrastructure business, having signed a multiyear turbine supply deal with Baker Hughes for 1 gigawatt of capacity by 2030, with an option to grow to 1.8 gigawatts, and secured about 1.8 gigawatts of power generation overall toward its 2-gigawatt target. Kodiak ended the quarter with 4.4 million revenue-generating horsepower and fleet utilization of 98.2%, while net debt stood at about $2.6 billion.

Kodiak Gas Services raised its full-year 2026 adjusted EBITDA, compression infrastructure gross margin, and discretionary cash flow guidance after reporting record second-quarter results. Adjusted EBITDA rose 22% year-over-year to $217 million, while revenue increased 21% to $391 million, driven by the DPS acquisition and compression infrastructure growth. The company now expects adjusted EBITDA of $830 million to $860 million, compression infrastructure adjusted gross margin of 69% to 70.5%, and discretionary cash flow of $570 million to $600 million. Kodiak also announced a multiyear gas turbine supply agreement with Baker Hughes for 1 gigawatt of turbine power by 2030, with an option to increase to 1.8 gigawatts, and executed a limited notice to proceed for a West Texas data center project leased to a hyperscaler.

Baker Hughes Company beat second-quarter profit estimates and posted record orders, yet warned that global spending by oil and gas producers will decline modestly this year. Earnings per share came in at 64 cents, well above the 50 cents analysts expected, according to LSEG data. Orders rose 49% from a year earlier to a record $10.5 billion, including a record $7.1 billion for its industrial and energy technology segment, which serves LNG, power generation, and data centers. Backlog rose 19% to an all-time high, and remaining contracted work hit $40.1 billion. However, the company said annual global upstream spending will decline modestly, with weaker spending in Europe and the Middle East offsetting growth in Latin America, offshore Africa, and North America, as ongoing U.S.-Iran conflict makes producers more cautious. CEO Lorenzo Simonelli has been framing the firm's strategy around a demand decade for energy, pushing Baker Hughes further into power grids, LNG, and data centers beyond traditional oilfield services.

Baker Hughes has secured a contract from Searah North Ganal to supply subsea production systems and digital solutions for the Kutei Northern Hub development in Indonesian waters. The contract covers 17 deepwater horizontal tree systems, associated manifolds, connections, control, and distribution systems, as well as Cordant asset protection and condition monitoring systems. The equipment will support the integrated development of the Geng North and Gehem fields, aiming to boost natural gas production and contribute to Indonesia's LNG capacity and domestic energy supply. Baker Hughes will manufacture the subsea trees at its Batam facility and provide additional support from its Balikpapan facility, both in Indonesia. This award follows a 2025 order for flash gas compressors for a new FPSO at the same hub.

Baker Hughes has secured a major order from Venture Global LNG for a comprehensive liquefaction solution to support an LNG expansion project in Louisiana, and a separate order from Dynamis Power Solutions for 76 NovaLT™16 gas turbines providing 1.3 GW of modular power solutions for data centers and the oil and gas sector. These contracts highlight Baker Hughes' role in large-scale LNG infrastructure and the growing power demand from digital and industrial clients. The Venture Global LNG contract underlines the company's position in major LNG projects, while the Dynamis award shows its gas turbine technology being applied to fast-growing data center and industrial power needs. Together, the wins support a more diversified order book across LNG and digital infrastructure.

SpaceX's latest earnings call triggered sharp moves in telecom and energy stocks after executives outlined plans to build a terrestrial wireless network and massive power infrastructure. COO Gwynne Shotwell said Starlink would target customers of AT&T, Verizon, and T-Mobile, which together generate roughly $600 billion a year, causing shares of those carriers to drop. Deutsche Telekom CEO Timotheus Hottges acknowledged the market reaction, calling it overblown but saying the company takes SpaceX's ambitions seriously. Separately, Elon Musk's comments about building 20 gigawatts of power lifted natural gas equipment suppliers GE Vernova and Baker Hughes, as well as power providers Constellation Energy, NextEra Energy, Vistra, and EQT Corporation. The call also boosted Nvidia after Musk said SpaceX would build exclusively on its Vera Rubin architecture, and highlighted Echostar's 261.8 million share stake in SpaceX as a direct beneficiary.

SpaceX is targeting as much as 20 gigawatts of power, cooling, and electrical infrastructure online by the end of next year, a demand level that Melius Research calls a 'clear positive' for industrial equipment suppliers. Managing director James West highlighted that this massive requirement, nearly half of the 53 gigawatts of new US generation capacity added in 2025, will benefit companies already riding the AI infrastructure boom. Among the beneficiaries are natural gas power equipment makers GE Vernova and Baker Hughes, as well as power providers Constellation Energy, NextEra Energy, Vistra, and EQT Corporation. GE Vernova reported a 36% backlog increase to $176 billion in its second quarter, with power segment orders up 134% year on year, while Baker Hughes saw its industrial energy and technology orders double to over $7 billion. Elon Musk stated that even if forecasts fall short, SpaceX should still have around 15 gigawatts of capacity at the power plant level by the end of 2027.

Five dividend-paying stocks—Alliance Resource Partners, Capitol Federal Financial, Baker Hughes, Citizens Community Bancorp, and ArcBest—all have an ex-dividend date of August 7, meaning investors must buy shares by the close of trading on August 6 to receive the upcoming quarterly payout. Alliance Resource Partners offers the highest yield at 9.2 percent with a 60-cent quarterly distribution, though its annualized payout of $2.40 exceeds trailing earnings per share of $2.06 and follows a distribution cut earlier in 2025. Capitol Federal Financial and Baker Hughes show the strongest coverage, with Capitol Federal’s 34-cent annualized payout well below its 66-cent full-year EPS and Baker Hughes’ 92-cent annualized dividend dwarfed by trailing EPS of $3.15 and second-quarter 2026 free cash flow of $1.109 billion. Citizens Community Bancorp’s payout is covered by full-year EPS of $1.31 but faces pressure after a weak second quarter, while ArcBest’s 48-cent annualized dividend is covered by trailing EPS of 73 cents amid a depressed freight cycle. The article cautions that buying solely for the dividend often results in a lower cost basis rather than extra income, and coverage quality matters more than yield.

Baker Hughes completed its all-cash acquisition of Chart Industries in July 2026, creating a third reporting segment and expanding beyond traditional oilfield markets. The deal adds thermal management, air and gas handling, compression, carbon-capture and lifecycle-service capabilities, strengthening Baker Hughes' position in gas infrastructure, industrial markets, data centers, geothermal and carbon capture. Management expects annual run-rate cost synergies of $95 million in year one, $230 million in year two and $325 million in year three, driven by nearly 300 initiatives across procurement, corporate costs, systems, operations and footprint optimization. The transaction increased balance-sheet risk, with long-term debt reaching $15.48 billion at June 30, 2026, compared with $5.40 billion at the end of 2025, and the company is targeting net debt to adjusted EBITDA of 1.0 to 1.5 times within 24 months of closing. Integration is being managed through 18 workstreams, with the first 90 days focused on customer continuity, employee retention, operating performance and early synergy actions, while the next phase emphasizes operating-model alignment, commercial integration and pilot customer solutions.

Baker Hughes reported second-quarter results that surpassed Wall Street expectations, with revenue of $6.74 billion beating analyst estimates of $6.50 billion and adjusted EPS of $0.64 exceeding the $0.49 consensus. During the earnings call, analysts focused on the record orders in the Industrial & Energy Technology segment, the revenue ramp and capital allocation for power systems capacity expansion, and commercial synergies from the Chart acquisition. CEO Lorenzo Simonelli noted that paybacks for incremental capacity investments are expected to be below two years, with growth driven by gas turbines and a phased spend through 2028, while CFO Ahmed Moghal attributed OFSE outperformance to strong international activity and product mix. Management expressed confidence in margin and cash flow outlook, citing backlog quality and favorable pricing.

Dynamis Power Solutions has awarded Baker Hughes a major order for 76 NovaLT 16 gas turbines paired with gearboxes and generators, totaling approximately 1.3 gigawatts for hypermobile power generation across data center projects and oil and gas applications. The turbines were booked in the second quarter, and the gearboxes and generators in the third. Dynamis will package the equipment into its proprietary DT17 hypermobile power units, which leverage Baker Hughes' multi-fuel turbine technology and BRUSH Power Generation components to deliver industry-leading power density in a compact footprint. The companies say the modular design provides flexibility and scalability while reducing construction timelines and civil costs. Baker Hughes Chairman and CEO Lorenzo Simonelli noted that power demand in North America is accelerating due to data center expansion, manufacturing growth, and energy infrastructure needs.

Baker Hughes has raised its expectation for Horizon 2 Industrial and Energy Technology orders to exceed $45 billion, up from a prior forecast of more than $40 billion, while guiding for full-year 2026 revenue of $27.35 billion and adjusted EBITDA of $4.85 billion. Chairman and CEO Lorenzo Simonelli said the company delivered record IET orders of $7.1 billion in the second quarter, a 2.2x book-to-bill ratio, and an all-time high RPO of $37.1 billion. The company also completed its acquisition of Chart Industries, which will operate as a third reporting segment, and is expanding gas turbine and generator capacity to support an estimated $5 billion in annual Power Systems revenue opportunity by 2029. For the third quarter, Baker Hughes guided to revenue of $6.87 billion and adjusted EBITDA of $1.205 billion, while cautioning that any material change in geopolitical conditions could affect outcomes.

ASML dropped 8% after The Information reported China began mass production of domestically made deep ultraviolet chipmaking tools. Memory chip stocks were mixed as CXMT soared more than 466% in its Shanghai debut, while SK Hynix fell over 8%, SanDisk slid 11%, and Micron Technology lost 5%. SAP jumped more than 7% after announcing the second part of a 10 billion-euro stock buyback. Forte Biosciences rallied about 40% on a $2.2 billion cash acquisition by Argenx at $77 per share, a 40% premium to Friday's close. Brown-Forman climbed almost 4% after rejecting a $15 billion unsolicited takeover offer from Sazerac at $32 per share. Baker Hughes gained 6% on better-than-expected second-quarter earnings and revenue, while Amkor Technology fell 7% ahead of its quarterly report. D-Wave Quantum added 5% on a partnership with AT&T to use annealing quantum computers for AI, and MapLight Therapeutics plunged 68% after a Phase 2 schizophrenia trial missed its primary endpoint.

Memory stocks rose broadly after Chinese chipmaker CXMT debuted on the Shanghai public market with its stock surging more than 466%, lifting U.S.-listed peers including Micron Technology which advanced 2.5%. Energy stocks followed oil prices lower after the U.S. and Iran agreed to pause attacks, with Chevron down 2.7%, ExxonMobil down 3.2%, and APA, Devon Energy, and Diamondback Energy each falling around 4%. Forte Biosciences rallied more than 39% on news it will be acquired by Netherlands-headquartered Argenx for $2.2 billion in cash, or $77 per share, a 40% premium to Friday's close. Baker Hughes gained nearly 2.2% after reporting better-than-expected second-quarter earnings and revenue, with the CEO citing favorable fundamentals and reaffirming full-year guidance. D-Wave Quantum rose more than 7% after announcing a partnership with AT&T to use its annealing quantum computers for AI, while IonQ gained nearly 4.5% and Rigetti Computing added 3.8%.

Baker Hughes has secured a major order from Venture Global LNG to supply a comprehensive liquefaction solution for the CP2 LNG expansion project in Louisiana. The award, booked in the second quarter, includes six liquefaction blocks for a total of 12 liquefaction modules, with each block based on two single mixed-refrigerant modules and related compression trains featuring Baker Hughes' advanced centrifugal compressor technology, as well as cold boxes, air coolers and integrated control systems. The order extends the companies' long-standing collaboration under an established master equipment supply agreement, reinforcing Baker Hughes' role as a strategic LNG technology provider across more than 100 million tonnes per annum of Venture Global's existing and planned production capacity, including the Calcasieu Pass and Plaquemines LNG facilities.

Baker Hughes announced that its board of directors declared a quarterly cash dividend of $0.23 per share of Class A common stock. The dividend is payable on August 17, 2026, to shareholders of record as of August 7, 2026. The company expects to fund the dividend from cash generated from operations.

Chevron, Baker Hughes, and Cactus are expected to report better-than-expected second-quarter earnings, according to Zacks Investment Research. The favorable energy business environment in the June quarter, driven by high commodity prices amid the Iran war, is likely to have boosted results. Baker Hughes has an Earnings ESP of +1.34% and a Zacks Rank of 3, with results due on July 26. Chevron, scheduled to report on July 31, has an Earnings ESP of +1.84% and a Zacks Rank of 3. Cactus, reporting on July 29, has an Earnings ESP of +7.04% and a Zacks Rank of 3.

Baker Hughes has closed its acquisition of Chart Industries and appointed Jim Apostolides to lead the new segment, while its shares last closed at $57.25 against a narrative fair value of $71.24, implying a potential undervaluation of about 20%. The stock has pulled back 8.34% over the past 30 days, though longer-term returns remain strong with a one-year total shareholder return of 50.56% and a five-year return of 218.96%. The company's growing backlog in large-scale service contracts and technology-driven orders is supporting revenue visibility, but risks include possible oil and gas spending cuts and margin pressure from tariffs and supply chain disruptions.

Baker Hughes has completed its acquisition of Chart Industries, marking a major milestone in its transformation into a higher-value industrialized energy solutions company. Chart will operate as a third reporting segment, reflecting the scale and strategic importance of its differentiated capabilities in air and gas handling, thermal management, and lifecycle services. Baker Hughes targets $325 million in annualized cost synergies by year three after close, with additional upside from commercial synergies. Jim Apostolides has been appointed senior vice president to lead the Chart segment. Chart reported $4.3 billion in revenue for fiscal year 2025 and serves customers in more than 50 countries.

The European Union granted antitrust approval for Baker Hughes' acquisition of Chart Industries after Baker Hughes agreed to sell Chart's proprietary process technology and its small-scale process technology business to a suitable third-party purchaser approved by the European Commission. The Commission said the concessions addressed concerns about Baker Hughes' ability and incentive to favor Chart's LNG business. The $13.6 billion purchase ranks among the biggest by an oilfield services company and the most consequential since Baker Hughes merged with General Electric's oil and gas business.

Kodiak Gas Services has agreed a multi-year power generation deal with Baker Hughes targeting up to 1.8 gigawatts for data centers and behind-the-meter projects. The stock last closed at $67.18 against a most-followed fair value estimate of $84.07, implying a potential undervaluation of about 20%. High fleet utilization above 97%, premium-rate contracting of new large-horsepower units, and long-term fee-based contracts support resilient recurring revenue and EBITDA stability. However, the current price-to-earnings ratio of 101.4 times sits well above the US Energy Services industry average of 26.5 times, raising valuation risk questions.

Baker Hughes has signed a multi-year strategic agreement with Kodiak Gas Services to supply power generation technologies, starting with an equipment award capable of delivering approximately 1 gigawatt of power generation capacity by 2030. The broader framework provides a pathway to expand capacity to 1.8 gigawatts over time, with the initial order including NovaLT 16 gas turbines, Frame 5 gas turbines and BRUSH generators. The partnership targets behind-the-meter projects in key U.S. markets to meet surging electricity demand from artificial intelligence, cloud computing and data centers, and also includes technical training, spare parts support and a long-term service agreement. The agreement reinforces Baker Hughes' strategy of expanding beyond traditional oilfield services into energy infrastructure and power solutions.