Baker Hughes Q3 revenue up as oilfield demand driven by Latin and North America
Published: Friday, 17 October 2014
The results from Baker Hughes show that demand from the oilfield sector remains strong as drilling activity continues in the Americas, which will in turn drive demand for oilfield minerals such as silica (frac) sand, barite (barytes) and bentonite. The remainder of the year is also expected to be positive as activity returns to normal in the Gulf of Mexico.
Oilfield services provider Baker Hughes saw its revenue
increase year-on-year (y-o-y) to $6.25bn for the third quarter
of 2014, driven by demand from both Latin and North
Net income for the quarter also increased to $375m in Q3, up
from $341m in Q3 2014 and $353m in the...