Baker Hughes Completes Closing of Surface Pressure Control JV

06 Jan Baker Hughes Completes Closing of Surface Pressure Control JV

(Oilandgaspress) Baker Hughes announced the final closing of its previously announced joint venture with a subsidiary of Cactus, Inc., in which Baker Hughes has contributed its surface pressure control (SPC) product line.

Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, holds a 65% equity in the joint venture, with Baker Hughes retaining a 35% stake.

The completion of this transaction represents an important milestone in Baker Hughes’ value-creation strategy, reinforcing the Company’s commitment to disciplined portfolio management, operational execution and capital efficiency. This transaction enhances earnings and cash flow durability, enables the redeployment of capital toward higher-return opportunities, and provides cash proceeds to further strengthen the balance sheet, all within a rigorous, returns-focused approach to capital allocation.

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