HOUSTON, TX — Baker Hughes Inc. (BHI), the world’s third-largest oilfield-services provider, declined the most in more than six months after quarterly profit plunged 60 percent on reduced North American demand for hydraulic fracturing.
Baker Hughes, based in Houston, fell (BHI) 4.9 percent to $44.75 at the close in New York, the most since March 21.
…Baker Hughes helps companies drill and complete oil and natural gas wells and access the fuels by fracking, which blasts water mixed with sand and chemicals underground to free trapped hydrocarbons from shale formations. The company is the world’s second-largest provider of fracking services.”
— David Wethe , Bloomberg News
— Agustino Fontevecchia, Forbes