Go to Wish List. Shop By. Refine By Category. Unit Price. Pressure Above. Pressure Below. Profile Size and Type. Tool OD. Packer Size. Casing Range. Pressure Rating. Reflecting the greater general strength of Baker, its executives were to be given the top posts: Clark was to be the new chairman and Woods the new president and chief executive officer, while William A. Kistler, Hughes's chairman, would be named the merged company's vice-chairman. The new company's home would be Houston, where Hughes was based, and where Baker already had extensive operations.
Baker's Orange, California, headquarters housed relatively few employees. Wall Street showed its excitement over the merger by trading up the stock prices of both companies following the merger announcement, but the federal government frowned on the potential antitrust ramifications of combining two such powerful outfits. Indeed, the U. Justice Department announced on January 25, , that it would attempt to block the merger, citing reduced competition in markets for some oil-exploration machinery.
As top executives worked out a consent agreement with the Justice Department, Hughes executives attempted to pull out of the merger. After several delays Hughes capitulated. On April 3, , Hughes agreed to the terms of the consent decree--which included the divestiture of the domestic operations of Reed Tool Company and some other units--and the merger was completed, creating an oil-services company second in size only to Schlumberger Limited. The consolidated company did not stop charging forward after the merger.
Baker Hughes Incorporated outpaced its competition in the late s. The company was already profitable by fiscal Woods added the chairmanship of Baker Hughes to his title in In May its longtime money-losing mining equipment operation was sold to Tampella Ltd.
The U. Department of Justice approved the deal, but only after Baker Hughes agreed to divest its own diamond drill business. Teleco was a pioneer in services for both directional and horizontal drilling. In October Max L. Lukens, who had been with the company since , was named president and chief operating officer, with Woods remaining chairman and CEO.
Drilex International Inc. Oil Dynamics was a manufacturer of electric submersible pumps used to lift crude oil and it was added to the company's Centrilift division. The year was also noteworthy for the retirement of Woods, who had not only made the Baker Hughes merger happen but had also focused and bolstered the company's product and service lines through more than 30 separate divestments and acquisitions.
Woods was succeeded by Lukens. Consolidation in the oil-services industry continued in , with the largest deal being the acquisition of Dresser Industries by Halliburton Company. Baker Hughes kept pace with its industry rivals, and maintained its number three position among oil-service firms behind Halliburton and Schlumberger , by acquiring Western Atlas Inc.
Western Atlas, which had been spun off from Litton Industries Inc. The acquired operations were placed within two new Baker Hughes divisions: Western Geophysical for the seismic services and Baker Atlas for the down-hole services.
Baker Hughes could now offer a full range of oilfield services, or "life-of-the-field" packages, from seismic surveys to drilling to production management. Remedial equipment and accessories. Service packers.
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