Baker Hughes vs EQT Corporation
Side-by-side comparison of AI visibility scores, market position, and capabilities
Houston oilfield services and energy technology (NASDAQ: BKR) ~$27.8B FY2024 revenue; IET LNG turbomachinery 38% revenue, Baker Hughes + GE Oil & Gas combined, energy transition positioning competing with SLB and Halliburton.
About
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.
Pittsburgh largest US natural gas producer (NYSE: EQT) at 2,100+ Bcfe annual volume; Marcellus Shale + Mountain Valley Pipeline completed, Equitrans Midstream acquired $5.5B for vertical integration, LNG export tailwind.
About
EQT Corporation is a Pittsburgh, Pennsylvania-based natural gas exploration and production company — publicly traded on the New York Stock Exchange (NYSE: EQT) as an S&P 500 Energy component — operating as the largest natural gas producer in the United States with operations concentrated in the Marcellus and Utica shale formations in Appalachia (Pennsylvania, West Virginia, Ohio), producing approximately 2,100-2,200 billion cubic feet equivalent (Bcfe) annually through approximately 1,900 employees. In Q4 2024, EQT reported sales volume of 605 Bcfe with capital expenditures of $583 million (7% below guidance), and full year 2024 adjusted EPS of $7.29 (+9% versus 2023). For 2025, EQT guided total sales volume of 2,175-2,275 Bcfe with maintenance capital expenditures of $1,950-$2,120 million. A transformative 2024 strategic development was EQT's completion of the Mountain Valley Pipeline (MVP) — a 303-mile natural gas pipeline connecting EQT's West Virginia Appalachian production to growing Southeast US gas demand markets — which, combined with EQT's acquisition of Equitrans Midstream (the gathering, compression, and transmission pipeline operator serving EQT's Appalachian production) for approximately $5.5 billion, created a vertically integrated natural gas company controlling both the wellhead production and the pipeline infrastructure delivering that production to market. CEO Toby Rice has positioned EQT as the low-cost Appalachian natural gas producer whose scale advantage (largest US gas producer) drives unit cost and marketing advantages in a commodity business.
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