|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||6.09 - 6.09|
|52-week range||6.09 - 6.09|
|Beta (5Y monthly)||1.14|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Baker Hughes (BKR), ExxonMobil (XOM) and Kinder Morgan (KMI) announced new deals while EOG Resources (EOG) and Occidental Petroleum (OXY) reported December-quarter earnings.
The JV deal with Akastor signifies Baker Hughes' (BKR) value generation capabilities from assets during challenging times.
Baker Hughes and Norway's Akastor plan to merge their offshore oil drilling equipment units to combine their complementary technologies, with a view to listing the new company longer term, they said on Tuesday. Demand for new drilling equipment has been weak amid the COVID-19 pandemic and last year's plunge in the price of oil, and the companies said proforma revenue for the new unit declined by 16% in 2020 to $713 million. Combining the drilling technology of Akastor's MHWirth, which sits on top of an oil rig, with seabed pressure control units made by Baker Hughes Subsea Drilling Systems (SDS), will cut costs and create a complete product offering, Akastor told Reuters.