Baker Hughes 2015 Annual Report Download - page 12

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Our global oilfield operations are organized into a number of geomarket organizations, which are combined into
and report to four region presidents, who in turn report to our chief executive officer. These regions form the basis
of our four geographical operating segments detailed below:
North America - headquartered in Houston, Texas
Latin America - headquartered in Houston, Texas
Europe/Africa/Russia Caspian - headquartered in London, England
Middle East/Asia Pacific - headquartered in Dubai, United Arab Emirates
Through the geographic organization, our management is located close to our customers, facilitating strong
customer relationships and allowing us to react quickly to local market conditions and customer needs. The
geographic organization supports our oilfield operations and is responsible for sales, field operations and well site
execution. In addition to the above, we have an Industrial Services segment, headquartered in Houston, Texas,
which includes the downstream chemicals business and the process and pipeline services business.
Certain support operations are organized at the enterprise level and include the supply chain and product line
technology organizations. The supply chain organization is responsible for the cost-effective procurement and
manufacturing of our products as well as product quality and reliability. The product line technology organization is
responsible for product development, technology and marketing of innovative and reliable solutions for our
customers to advance their reservoir performance. The product line technology organization also facilitates cross-
product line technology development, sales processes and integrated operations capabilities.
Further information about our segments is set forth in Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations and Note 5. "Segment Information" of the Notes to Consolidated
Financial Statements in Item 8 herein.
HALLIBURTON MERGER AGREEMENT
On November 16, 2014, Baker Hughes and Halliburton Company (“Halliburton”) entered into a definitive
agreement and plan of merger (the "Merger Agreement") under which Halliburton will acquire all outstanding shares
of Baker Hughes in a stock and cash transaction (the "Merger"). Under the terms of the Merger Agreement, each
share of common stock of Baker Hughes will be converted into the right to receive 1.12 Halliburton shares plus
$19.00 in cash. On March 27, 2015, Halliburton's stockholders approved the proposal to issue shares of Halliburton
common stock as contemplated by the Merger Agreement. In addition, Baker Hughes' stockholders adopted the
Merger Agreement and thereby approved the proposed combination of the two companies. The transaction is still
subject to regulatory approvals and customary closing conditions. In that regard, Baker Hughes and Halliburton
have agreed to extend the period for the parties to obtain required competition approvals to April 30, 2016, as
permitted under the Merger Agreement, and remain focused on completing the transaction as early as possible in
2016. However, Baker Hughes cannot predict with certainty when, or if, the pending Merger will be completed
because completion of the transaction is subject to conditions beyond the control of Baker Hughes. For further
information about the Merger, see Note 2. "Halliburton Merger Agreement" of the Notes to Consolidated Financial
Statements in Item 8 herein.
PRODUCTS AND SERVICES
Oilfield Operations
We offer a full suite of products and services to our customers around the world. Our oilfield products and
services fall into one of two categories, Drilling and Evaluation or Completion and Production. This classification is
based on the two major phases of constructing an oil and/or natural gas well, the drilling phase and the completion
phase, and how our products and services are utilized for each phase.