Baker Hughes 2013 Annual Report Download - page 5

This Annual Report to Stockholders, including the letter to stockholders from Martin S. Craighead, Chairman and Chief Executive Offi cer, contains forward-looking statements within the meaning of Section27A of the Securities
Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. The words “anticipate,” “believe,” “ensure,” “expect,” “if,” “intend,” “estimate,” “project,” “foresee,” “forecasts,” “predict,”
“outlook,” “aim,” “will,” “could,” “should,” “potential,” “would,” “may,” “probable,” “likely,” and similar expressions, and the negative thereof, are intended to identify forward-looking statements. Baker Hughes’ expectations
regarding these matters are only its forecasts. These forecasts may be substantially different from actual results, which are affected by many factors, including those listed in “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” contained in Items 1A and 7 of the Annual Report on Form 10-K of Baker Hughes Incorporated for the year ended December 31, 2013. The use of “Baker Hughes,”
“our,” “we” and other similar terms are not intended to describe or imply particular corporate organizations or relationships.
The fi rst horizontal well
drilled with the AutoTrak™
Curve rotary-steerable
system reduced drilling time
from an average of four days
for one well to less than
one day.
2013 Global Highlights
The fi rst Blue Wellbore
in Canada is the result
of a turnkey commercial
agreement that integrates
fi ve Baker Hughes product
lines—Drilling Services, Drill
Bits, Cementing, Wireline
Services, and Completion
Systems—and Baker Hughes
fi eld-based supervision.
Rhino™ Bifuel pump
technology enabled a client
in the Marcellus Shale to
complete a large hydraulic
fracturing operation using its
own readily available fi eld
gas, reducing emissions and
costly fuel shipments.
Our Dhahran Research and
Technology Center in Saudi
Arabia and the Reservoir
Development Services Middle
East Technology Center in Abu
Dhabi will help Baker Hughes
and our customers to better
understand and more
effi ciently develop shale and
tight gas in the Middle East.
Using a single Kymera™
hybrid drill bit to replace
six conventional diamond
bits on a high-profi le land
well resulted in a dramatic
improvement in rate of
penetration and saved
16 days of rig time.
A customer saved
an estimated USD
10 million in rig
days and operational
effi ciencies by using
our FASTrak™
logging-while-
drilling formation
pressure testing and
fl uid sampling service.
In Japan, we played
a crucial role in the
development of the
world’s fi rst successful
marine methane hydrate
production test.
In the Norwegian North Sea,
our SureTrak™ steerable
drilling liner service—the
industry’s fi rst—saved time
and signifi cantly increased
recovery in a complex 3D well
by allowing Statoil to drill,
evaluate, and place a liner to
total depth in a single run.
Our electrical submersible
pumps were critical to
enabling production from
the world’s fi rst ice-resistant
stationary platform in
Arctic waters to enabling
simultaneous oil production
and water injection in the
same wellbore in the
Volga-Urals region.
Baker Hughes is using
coiled tubing drilling and
other innovative solutions
to economically maximize
ultimate recovery, improve
revenue, and extend
the life of mature fi elds
in Malaysia.
The Gulf of Mexico’s fi rst
high-pressure, intelligent
well system saved millions
of dollars for an operator
working in 8,211 feet of
water and established its
value for future ultra-
deepwater applications.