Baker Hughes

Stock Symbol: BHI

Baker Hughes Description:
Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gas industry.

Baker Hughes Financial Summary:
BHI is engaged in the oilfield and process industry segments. BHI also manufactures and sells other products and provides services to industries that are not related to the oilfield or continuous process industries. For the 6 months ended 6/30/05, revenues rose 19% to $3.43B. Net income from cont. ops. increased 89% to $398.6M. Results reflect increased activity from land rigs drilling, improved gross margins and higher equity in earnings.

Baker Hughes Business Summary:
Baker Hughes Incorporated (Baker Hughes) is engaged in the oilfield services industry. The Company supplies wellbore-related products and technology services and systems to the oil and natural gas industry on a worldwide basis, including products and services for drilling, formation evaluation, completion and production of oil and natural gas wells. Baker Hughes conducts part or all of its operations through subsidiaries, affiliates, ventures, partnerships or alliances. It has seven operating divisions: Baker Atlas, Baker Hughes Drilling Fluids, Baker Oil Tools, Baker Petrolite, Centrilift, Hughes Christensen and INTEQ that have been aggregated into the Oilfield segment. The Oilfield segment also includes the Company's 30% interest in WesternGeco, a seismic venture it entered into with Schlumberger Limited (Schlumberger), as well as other investments in affiliates.