Zinger Key Points
- Baker Hughes secures ExxonMobil contract for offshore Guyana projects, boosting oil output.
- Partners with Hanwha to develop ammonia-powered turbine, targeting 2027 completion.
- Get the Real Story Behind Every Major Earnings Report
Baker Hughes Company BKR disclosed several transactions and partnerships at the Baker Hughes 2025 Annual Meeting in Florence.
ExxonMobil Contract: Baker Hughes secured a contract from Exxon Mobil Corporation XOM Guyana to supply specialty chemicals and services for the Uaru and Whiptail offshore developments in the Stabroek Block.
Uaru and Whiptail are ExxonMobil Guyana’s fifth and sixth projects, featuring up to 20 drill centers and 92 wells.
Each FPSO will have a capacity of 250,000 barrels per day, raising the country's total production capacity to 1.3 million barrels per day.
The multi-year contract covers topsides, subsea, water injection, and utility chemicals for the Errea Wittu and Jaguar FPSOs, set to begin production in 2026 and 2027, respectively.
Hanwha Partnership: Baker Hughes inked a joint Development and Collaboration Agreement (JDCA) with Hanwha Power Systems and Hanwha Ocean to develop a small-size turbine for ammonia applications.
The turbine will combine Baker Hughes’ gas turbine technology with Hanwha’s ammonia combustion system.
Baker and Hanwha plan to complete full engine testing with ammonia by the end of 2027, after which the ~16MW turbine will be available for commercial orders.
Argent LNG Contract: The company has been chosen by Argent LNG as the liquefaction solution and services provider for its proposed LNG export facility in Port Fourchon, Louisiana.
Baker Hughes will supply liquefaction technology, power generation equipment, and gas compression systems for the facility, which aims to produce approximately 24 MTPA of LNG.
Last month, Baker Hughes reported fourth-quarter adjusted EPS of $0.70, beating the consensus of $0.63 and sales of $7.36 billion, exceeding the street view of $7.08 billion.
Investors can gain exposure to the stock via iShares U.S. Oil Equipment & Services ETF IEZ and VanEck Oil Services ETF OIH.
Price Action: BKR shares are up 0.39% at $46.36 premarket at the last check Monday.
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