Baker Hughes reports U.S. rig count up 4 to 595 rigs

Baker Hughes won two contracts from Venture Global LNG for equipment to expand the Plaquemines LNG facility and the Cloud Connector Pipeline in Louisiana. The deals include 13 gas compression systems and 8 liquefaction modules, totaling over 100 million metric tons per year of LNG production capacity supported by Baker Hughes. According to Baker Hughes, this collaboration is part of a broader effort to enhance US LNG export capacity and energy security.

ExxonMobil (XOM) is expanding its carbon capture and storage (CCS) business, aiming to handle up to 100 million metric tons of CO2 annually. The company has partnerships with Linde, Nucor, and others, and Texas regulators approved its Rose CCS project. XOM's shares rose 46% over the past year, trading at a 12-month EV/EBITDA of 9.13X. Occidental Petroleum (OXY) and Baker Hughes (BKR) are also advancing carbon capture technologies.

Baker Hughes (BKR) raised its 2026 revenue and adjusted EBITDA guidance following its $13.6B acquisition of Chart Industries. The company now expects revenue of $28.5B-$30.3B and adjusted EBITDA of $4.88B-$5.48B. Despite the upgrade, shares fell as near-term margins face pressure and earnings contributions were below analyst expectations. UBS lowered its price target to $70, citing integration costs and margin concerns.

Baker Hughes (BKR) secured a large order for LNG equipment from Venture Global, supporting over 100 MTPA of LNG capacity. The deal expands Baker Hughes' role in the LNG value chain, tying its equipment to both upstream and downstream infrastructure. Analysts project revenue growth of 3.3% annually, reaching $30.8B and earnings of $3.3B by 2029. The order reinforces the company's investment narrative but also highlights risks tied to policy shifts and ESG rules.

Baker Hughes won two contracts from Venture Global LNG to supply 13 gas compression systems and 8 liquefaction modules for Louisiana LNG expansion, deepening their strategic relationship.

Baker Hughes (BKR) secured a multi-year contract with Kuwait Oil Company for technology innovation, expanding its Middle East presence. However, shares fell 6.5% after the CEO warned of integration costs and lower margins from the Chart Industries acquisition, leading to a revised 2026 free cash flow target of 40-45%. Despite trailing SLB N.V. (SLB) in stock performance, BKR has a 'Moderate Buy' consensus rating with a mean price target of $73.18, implying a 29% upside.