Baker Hughes 2004 Annual Report Download - page 3
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Please find page 3 of the 2004 Baker Hughes annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.LatinAmerica
InBrazil,BakerAtlas
introducedtheMREXSMlogging
serviceandenhancementsto
itsRCISMsamplingservice,and
HughesChristensendesigned
Genesis®XTbitsspecifically
fortheAlbacoreLestefield.In
Venezuela,Centriliftprovided
abrasion-resistantESPsystems
toincreaseproductionfrom
deep,hotwells.
GulfofMexico
BakerHughesDrillingFluids
launchedPERFORMAX™
water-basedmudandnew
GEO-TEQ™syntheticfluids.
BakerOilToolsprovided
completionsystemson
severalimportantdeep-
waterprojects.AndHughes
Christensenaccumulated
onemillionfeetofholewith
itsReam-While-Drilling™tools.
Africa
HughesChristensenapplied
HedgeHog™bittechnologyto
improvedrillingperformance
inAlgeria.InAngola,Baker
Petroliteestablishedachemical
labandmixingplantaspart
ofanewventure,andINTEQ
ranitsfirstcommercial“Penta-
Combo”LWDstringaspartof
anAutoTrak®G3assembly.
AsiaPacific
OnAustralia’sNorthwestShelf,
BakerPetroliteprovidedchemi-
calprogramsfortwomajor
projects,andCentriliftinstalled
dualESPsystemsfortwosub-
seafields.InChina’sBohaiBay,
BakerHughesbits,drillingand
evaluationsystems,perforating
services,completions,and
ESPsystemscontributedto
successfulprojects.
NorthSea
INTEQdrilledBest-in-Class
horizontalwellsusingAutoTrak®
X-treme®systemsandthe
TesTrak™formationtester.
BakerAtlasutilizedhigh-end
wirelineservicesandWellLink™
datacommunications.Baker
OilToolsinstalledIntelligent
WellSystems™inNorwayand
Denmark.CentriliftESPsystems
marked10yearsofcontinuous
operationinaUKfield.
Russia/CIS
InWesternSiberia,Centrilift
establishedanESPrepair
center.INTEQandBakerOil
Toolscontinuedre-entry
sidetrackservicesinSiberia
andalsoprovideddrilling,
evaluation,linerhanger
andfishingserviceson
projectsatSakhalinIsand
andintheCaspianSea.
MiddleEast
BakerOilToolscompleted
theworld’sdeepest
multilateralgaswell
inSaudiArabia,and
theworld’sfirstunder-
balancedcoiledtubing
casingexitinSharjah.
Centriliftestablishedan
ESPrepaircenterinDubai
andexpandeditsPCP
businessinOman.
BestInClass
BakerHughes
BakerAtlas
BakerAtlasprovideswireline-conveyed
welllogging,dataanalysisandperforat-
ingservicesforformationevaluation,
productionandreservoirmanagement.
Recenttechnologyinnovationsinclude
theMagneticResonanceExplorerSM
serviceforacquiringqualitynuclear
magneticresonancedatainlesstime
thanearliersystems;theEarthImagerSM
serviceforacquiringboreholeimagesin
oil-baseddrillingfluids;andthePredator
XPSMperforatingsystemtomaximize
connectivitywiththereservoir.
BakerHughesIncorporated
BakerHughesIncorporatedservesthe
worldwideoilandgasindustrythrough
sevenBest-in-Classdivisions.Atthe
enterpriselevel,BakerHughesprovides
strategicdirection,maintainscapital
discipline,andsponsorslong-term
R&D,whiledirectingshared,back-
officeservicesforadministrative,IT,
Legal,Compliance,HS&E,andHuman
Resourcesactivities.BakerHughesenter-
prisegroupsalsodirecttheglobalsales
effort,manageintegratedprojectsand
facilitatestrategicentryintonewgeo-
graphicmarkets.
BakerOilTools
BakerOilToolsprovidescompletion,
workoverandfishingtechnologyto
assuresafeandefficienthydrocarbon
production.Packers,screensandgravel
packingsystemsenableselective,sand-
freeproductionfromoilandnaturalgas
zones.Flowcontrolequipment–includ-
ingIntelligentWellSystems®–andsafety
valvesenableefficientflowwhilemini-
mizingrisk.Workoverandfishingser-
vicesprovidecost-effectivesolutionsfor
wellremediationandre-entrysidetracks.
BakerHughesDrillingFluids
BakerHughesDrillingFluidsprovides
fluidssystemsandservicesthathelp
optimizethedrillingandcompletion
processestomaximizehydrocarbon
production,evenindemanding
deep-water,hightemperatureand
hostileenvironments.Thedivision
helpsclientscomplywithenviron-
mentalregulationswithproducts
liketheSYN-TEQ®CFsynthetic
emulsionsystemandPERFORMAXTM
highperformancewater-basedsystem,
andwithservicesthatefficiently
handleanddisposeofdrillingwaste.
INTEQ
INTEQprovidesdirectionaldrilling,
measurement-while-drilling(MWD),
logging-whiledrilling(LWD)andwell-
siteinformationservices.Itsleading
AutoTrak®G3rotarysteerablesystem
integrateswithadvancedLWDsystems
todrillefficiently,obtainformation
measurements,andguidethewell
withinthereservoir.Recentinnovations
includetheAcousticPropertieseXplorerSM
system,theTestrak™formationpres-
suretester,andtheAutoTrak®X-treme®
rotarysteerablesystemthatispowered
byadownholemotor.
Centrilift
Centriliftprovideselectricsubmersible
pump(ESP)andprogressingcavity
pumpsystems,applicationsengineering,
projectmanagementandwellmonitor-
ingservices.Centriliftrecentlyintroduced
theGCSElectrospeed®IIvariablespeed
controlsystemandnewMVP™pump
systemsforwellswithhighgascontent.
Centrilift’shighlyreliableESPsystemsalso
canenhanceproductioninsubseaappli-
cationsandreplacegasliftcompletions
indeepwaterwells.
BakerPetrolite
BakerPetroliteprovideschemicaltech-
nologysolutionsforhydrocarbonpro-
duction,transportationandprocessing.
Duringoilandnaturalgasproduction,
thedivisiondeliverslaboratoryservices
andchemicalstocontrolcorrosion
anddepositionandtotreatproduced
water.Flowenhancersincreasepipeline
throughput,andinspectionservices
helpassurepipelinesystemintegrity.
Engineeredchemicalprogramsalso
createvalueforrefineriesbyimproving
productivity,treatingwater,andresolv-
ingenvironmentalissues.
HughesChristensen
HughesChristensenprovidesTricone®
andPDCdrillbits,ream-while-drilling
toolsanddrillingoptimizationservices.
ItscomprehensiveTriconebitline
includesUltraMax®metal-sealedbearing
bits,Mini-MX™bitsforslimholewells,
andHydraBoss®bitsforefficientdrilling
throughshale.Genesis®XTPDCdrill
bits,withadvancedcutterandbit
stabilitytechnology,arespecifi-
callydesignedforeachapplication.
HedgeHog™impregnateddiamond
bitsincreasepenetrationratesthrough
harderformations.
Design:SavageDesignGroup,Inc.,Houston,Texas
CorporateOfficers
ChadC.Deaton
Chairmanand
ChiefExecutiveOfficer
JamesR.Clark
Presidentand
ChiefOperatingOfficer
DavidH.Barr
VicePresidentandGroup
President,BakerHughes
DrillingandEvaluation
RayA.Ballantyne
VicePresidentand
President,INTEQ
PaulS.Butero
VicePresidentand
President,Hughes
Christensen
MartinS.Craighead
VicePresidentand
President,BakerAtlas
JohnA.O’Donnell
VicePresidentand
President,BakerHughes
DrillingFluids
DouglasJ.Wall
VicePresidentandGroup
President,BakerHughes
CompletionsandProduction
ChrisP.Beaver
VicePresidentand
President,BakerOilTools
WilliamP.Faubel
VicePresidentand
President,Centrilift
EdwinC.Howell
VicePresidentand
President,BakerPetrolite
G.StephenFinley
SeniorVicePresident–
FinanceandAdministration
andChiefFinancialOfficer
DouglasC.Doty
VicePresidentand
Treasurer
DavidE.Emerson
VicePresident,Strategy
andBusinessDevelopment
AlanJ.Keifer
VicePresidentand
Controller
JohnH.Lohman,Jr.
VicePresident,Tax
AlanR.Crain,Jr.
VicePresidentand
GeneralCounsel
SandraE.Alford
CorporateSecretary
JayG.Martin
VicePresident,Chief
ComplianceOfficer
andSeniorDeputy
GeneralCounsel
GregNakanishi
VicePresident,
HumanResources
BoardofDirectors
LarryD.Brady
ChairmanandChief
ExecutiveOfficer,
UNOVAInc.
ChadC.Deaton
ChairmanandChief
ExecutiveOfficer,
BakerHughesIncorporated
ClarenceP.Cazalot,Jr.
PresidentandChief
ExecutiveOfficer,
MarathonOilCorporation
EdwardP.Djerejian
Director,JamesA.BakerIII
InstituteforPublicPolicy,
RiceUniversity
AnthonyG.Fernandes
FormerChairman,President
andChiefExecutiveOfficer,
PhillipServicesCorporation
ClaireW.Gargalli
FormerViceChairman,
DiversifiedSearchand
DiversifiedHealth
SearchCompanies
JamesA.Lash
FirstSelectman,Greenwich,
ConnecticutandChairman,
ManchesterPrincipalLLC
JamesF.McCall
Lt.General,U.S.Army
(Retired),ExecutiveDirector
oftheAmericanSocietyof
MilitaryComptrollers
J.LarryNichols
ChairmanandChief
ExecutiveOfficer,Devon
EnergyCorporation
H.JohnRiley,Jr.
ChairmanandChief
ExecutiveOfficer,
CooperIndustries,Ltd.
CharlesL.Watson
Chairman,Eagle
EnergyPartners
andWincrestVentures
StockholderInformation
TransferAgentand
Registrar
MellonInvestor
Services,LLC
85ChallengerRoad
RidgefieldPark,NJ07660
(888)216-8057
StockExchangeListings
TickerSymbol“BHI”
NewYorkStock
Exchange,Inc.
PacificExchange,Inc.
SWXSwissExchange
InvestorRelationsOffice
GaryR.Flaharty
Director,InvestorRelations
BakerHughesIncorporated
P.O.Box4740
Houston,Texas77210-4740
Form10-K
Additionalcopiesofthe
company’sAnnualReportto
theSecuritiesandExchange
Commission(Form10-K)are
availablebywritingtoBaker
HughesInvestorRelations.
AnnualMeeting
Thecompany’sAnnual
MeetingofStockholderswill
beheldat9:00a.m.Central
TimeonApril28,2005at
theofficesofthecompany:
3900EssexLane,Suite210
Houston,Texas.
CorporateOfficeLocation
andMailingAddress
3900EssexLane
Houston,Texas77027-5177
Telephone:(713)439-8600
P.O.Box4740
Houston,Texas77210-4740
Website
www.bakerhughes.com
BakerHughes
InformationSystems
(888)408-4244
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informationaboutBakerHughes.
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OurCoreValues
Integrity–Webelieveintegrityisthefoundationofourindividualandcorporateactions.Weareaccountablefor
ouractions,successesandfailures.
Teamwork–Webelieveteamworkleveragesourindividualstrengths.Wewillinglyshareourresourcesaswework
towardcommongoals.
Performance–Webelieveperformanceexcellencewilldifferentiateusfromourcompetitors.Weworkhard,
celebrateoursuccessesandlearnfromourfailures.
Learning–Webelievealearningenvironmentisthewaytoachievethefullpotentialofeachindividualand
thecompany.
KeystoSuccess
• Peoplecontributingtotheir
fullpotential.
• Deliveringunmatchedvalueto
ourcustomers.
• Beingcost-efficientineverything
wedo.
• Employingourresources
effectively.