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Company Overview
About Baker Hughes
Baker Hughes Company is a Houston, Texas-based energy technology and oilfield services company — publicly traded on the NASDAQ (NASDAQ: BKR) as an S&P 500 Energy component — providing oilfield services and equipment (OFSE — drilling, completions, production, and intervention technologies for upstream oil and gas operations) and industrial and energy technology (IET — turbomachinery, compressors, industrial equipment, and digital solutions for LNG terminals, industrial plants, and new energy applications) through approximately 58,000 employees in 120+ countries. Baker Hughes was formed in 2017 through the combination of Baker Hughes (founded 1987) with GE Oil & Gas — GE selling its oil and gas equipment and services business to Baker Hughes — creating a combined company that trades under NYSE: BKR while GE initially held a majority stake, which GE divested by 2022. In fiscal year 2024, Baker Hughes reported revenues of approximately $27.8 billion with adjusted EBITDA of approximately $4.4 billion, with the Industrial & Energy Technology segment (LNG compressors, gas compression, power generation turbines for industrial applications) generating 38% of revenue at above-average margins as LNG terminal construction and industrial decarbonization drove demand for Baker Hughes's turbomachinery and electrification equipment. CEO Lorenzo Simonelli has executed Baker Hughes's "energy transition" strategy — positioning Baker Hughes's equipment and services for both conventional oil and gas (OFSE — growing with global upstream capital expenditure) and the new energy economy (IET — LNG for energy transition, hydrogen compression, carbon capture equipment, geothermal drilling) to reduce Baker Hughes's correlation to oil price cycles.
Business Model & Competitive Advantage
Baker Hughes' oilfield and industrial technology model creates competitive advantages through the engineering specialization and installed base of turbomachinery in critical energy infrastructure: Baker Hughes's Nuovo Pignone (acquired by GE in 1994) manufactures centrifugal and axial compressors, gas turbines (Frame 6B, Frame 7E/EA, PGT25 — used in LNG liquefaction trains, pipeline compressor stations, and offshore platform power generation) that are specified in every major LNG terminal's technical design — the Baker Hughes ATLAS (Advanced Turbomachinery and Load Sharing) compressor train at the Sabine Pass LNG terminal cannot be replaced without a complete redesign of the liquefaction process and piping, creating 25-year service and spare parts relationships from every LNG terminal installation. The OFSE segment's drilling and completion tools (Kymera hybrid drilling bits, ACCESS drilling optimization software, PermConnect sand control completions systems) provide technical differentiation that operator drilling efficiency programs reward with preferred vendor status — reducing non-productive time (NPT) in drilling operations worth $50,000-100,000 per hour in deepwater environments where Baker Hughes tools perform reliably in extreme conditions.
Competitive Landscape 2025–2026
In 2025, Baker Hughes competes in oilfield services and energy technology against Schlumberger/SLB (NYSE: SLB, $36B revenue, dominant global oilfield services), Halliburton (NYSE: HAL, $23B revenue, US-centric oilfield services), and Siemens Energy (ETR: ENR, industrial turbines and energy technology competing in IET segment) for offshore and international upstream drilling contracts, LNG terminal equipment supply agreements, and new energy technology (hydrogen, carbon capture) pilot project partnerships. The LNG construction backlog (10+ major LNG export projects under construction or final investment decision through 2027 — Plaquemines LNG, Rio Grande LNG, Port Arthur LNG, LNG Canada Phase 2, Queensland Curtis Phase 3) creates a $5-10 billion multi-year turbomachinery order backlog for Baker Hughes's IET segment as each LNG train requires Baker Hughes-supplied or competing turbomachinery packages. The new energy transition application of Baker Hughes's IET capabilities (developing gas compression for CCS carbon capture and storage projects, hydrogen production and compression for industrial decarbonization, enhanced geothermal systems drilling services) diversifies IET revenue beyond fossil fuel infrastructure. The 2025 strategy focuses on IET LNG turbomachinery order execution (converting the large order backlog to revenue), OFSE international operations growth (Middle East, Africa, and Latin America NOC capital spending), and new energy technology contract capture in hydrogen and carbon capture infrastructure.
The Baker Hughes Story
Founders
Recent Activity
View all →Company Timeline
Major milestones in Baker Hughes's journey
Leadership Team
Meet the leaders behind Baker Hughes
Lorenzo Simonelli
Lorenzo has served as Chairman since October 2017 and as President & CEO since the company's creation in July 2017, where he successfully led the merger of GE Oil & Gas with Baker Hughes Inc. He brings extensive international experience and strategic vision for the energy transition. Prior to Baker Hughes, he held senior leadership positions at GE.
Nancy Buese
Nancy was appointed CFO in November 2022, succeeding Brian Worrell. She brings deep financial expertise from her previous role as Executive Vice President and CFO at Newmont Mining Corp., a Denver-based gold producer, where she served since 2016. Nancy has strong credentials in capital allocation, investor relations, and financial strategy for global industrial companies.
Amerino Gatti
Amerino was appointed EVP of OFSE effective October 1, 2024. He joined Baker Hughes after serving as CEO and Chairman of the Board at TEAM, Inc. Prior to that, he spent 25 years at Schlumberger in various leadership roles, including President of the Production Group, bringing extensive oilfield services expertise and operational excellence to Baker Hughes.
Maria Claudia Borras
Maria Claudia was appointed to the newly created role of Chief Growth & Experience Officer (CGXO) effective October 1, 2024, after serving as EVP of OFSE since 2022. She has over 30 years of proven leadership at Baker Hughes across commercial, operations, and engineering organizations, with deep expertise in driving customer success and business growth.
Muzzamil Khider Ahmed
Muzzamil was promoted to Chief People & Culture Officer in October 2024 as part of Baker Hughes' leadership transformation. He leads the company's global people strategy, culture initiatives, diversity and inclusion programs, and talent development across 57,000 employees in 120+ countries.
Key Differentiators
Market Leader
Baker Hughes is recognized as a market leader in the Energy & Utilities sector, demonstrating strong industry presence and customer trust.
Enterprise Scale
With $27.8B in revenue, Baker Hughes operates at enterprise scale with proven market validation.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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