(BHI) Baker Hughes Unveils Advanced System

Oilfield services provider Baker Hughes (BHI) has launched a new wellbore clean-up and displacement system. This will be utilized to ensure equipment efficiency as well as minimum hazards while operating in high-cost environments such as deepwater applications; horizontal, extended-reach, and deviated wells; deep wells; and wells with high dogleg severity.

The latest generation cyclone-based system –– X-Treme Clean XP –– is expected to clear off dregs and scraps more effectively. The system leverages the most advanced technologies used in the industry. Its application is also much safer and convenient compared to the previous iterations.

Management believes that the system will be highly beneficial for customers who operate in difficult yet high-value fields. The technique is planned to provide a high level of performance that will moderate the risks.

Houston, Texas-based Baker offers a range of services to the global oil and gas industry. The company is a major supplier of wellbore-related products, technology services and systems, and caters to drilling, pressure pumping, formation evaluation, completion and production, and reservoir technology. It also offers consulting services to the worldwide oil and natural gas industry.

We believe that Baker is one of the best positioned companies in the sector with significant improvement in activity levels in both North America and international regions. The company’s strong portfolio of products and services gives a competitive edge over its peers. We also believe that the company’s solid balance sheet and sufficient liquidity will help it to concentrate on further research and development activities.

However, we remain apprehensive about the company’s international margins. Further, we remain cautious about delayed permits for deepwater and shelf drilling in the Gulf of Mexico region. The company also faces tough competition from Schlumberger Ltd. (SLB) and Halliburton Co. (HAL). Hence, we are maintaining our long-term Neutral rating on the shares.

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