Cactus Completes Previously Announced Acquisition of 65% Controlling Interest in Baker Hughes's Surface Pressure Control Business [Yahoo! Finance]
Baker Hughes Company (BKR)
Company Research
Source: Yahoo! Finance
of a majority interest in Baker Hughes Company's Surface Pressure Control business ("SPC" or "the Business"). Formal financial guidance for the Business will be provided later in the first quarter of 2026. Scott Bender, Chairman and CEO of Cactus, commented, "I am excited to welcome the talented SPC team to the Cactus organization. This transaction is transformational for Cactus as it diversifies our geographic footprint and provides us with access to new growth markets. We look forward to operating the Business with our long-standing focus on safety, customer execution, margins, and returns, which will deliver long-term value to shareholders." About Cactus, Inc. Cactus designs, manufactures, sells or rents a range of highly engineered pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers' wells. In addition
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- Baker Hughes (BKR) Maintains Outperform Rating Amid Hydrogen and LNG Project Wins [Yahoo! Finance]Yahoo! Finance
- Baker Hughes, Cactus Announce Closing of Surface Pressure Control Joint Venture [Yahoo! Finance]Yahoo! Finance
- Baker Hughes, Cactus Announce Closing of Surface Pressure Control Joint VentureGlobeNewswire
- Baker Hughes (NASDAQ:BKR) Seems To Use Debt Quite Sensibly [Yahoo! Finance]Yahoo! Finance
- Baker Hughes' Quarterly Earnings Preview: What You Need to Know [Yahoo! Finance]Yahoo! Finance
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