As one of the world's largest oil field services , industrial and energy technology companies, it provides products and services to the oil and gas industry for exploration and production, as well as other energy and industrial applications. Baker Hughes [ 2 ] manufactures equipment which can also be used for industrial applications such as hydrogen production, geothermal energy resources and carbon capture utilization and storage, as part of the energy transition.
The company divides its organization into the following segments: [ 3 ]. All of these entities now fall within the Baker Hughes portfolio.
Baker Hughes traces its roots to the merger of Hughes Tool Company and Baker Oil Tool Company and the company has subsequently grown via acquisitions. Hughes, Sr. That year, Hughes, Sr. They conducted two secret tests on a drilling rig in Goose Creek, Texas. Each time, Hughes asked the drilling crew to leave the rig floor, pulled the bit from a locked wooden box, and then his associates ran the bit into the hole.
The drill pipe twisted off on the first test, but the second was extremely successful. Following these successful drill bit tests, the partners founded the Sharp-Hughes Tool Company in The first shop to manufacture the bit occupied a foot by foot rented space. After Walter Sharp died in , Hughes purchased Sharp's half of the business.
In , the company introduced the Tricone drill bit. While Hughes was engaged in his Hollywood and aviation enterprises, managers in Houston, such as Fred W. Ayers and Maynard Ellsworth Montrose, kept the tool company growing through technical innovation and international expansion.
