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Oil & Gas Technical Compendium

Global LNG boom sends Baker Hughes’ demand soaring beyond expectations

Oil and gas drilling is big business once again, if the leap in demand for services from Baker Hughes Co., the world’s No. 2 oilfield contractor, is any gauge.The Houston-based company posted equipment orders in its fourth-quarter results that were $1 billion above expectations. That led to a 28% jump in demand after years of painful cost-cutting.Shares soared as much as 7.3% to $6.05, the highest in almost three years. The company’s top competitors, Schlumberger and Halliburton Co., are also expected to deliver strong quarterly results when they report over the next several days, in the latest sign that the global oil industry is recovering from pandemic lows.A “broader macro recovery will translate into rising energy demand in 2022, with .....

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