Baker Hughes Co

Baker Hughes announced three substantial awards from Bechtel and Cheniere for the Sabine Pass LNG facility in Louisiana. These contracts, booked in the second quarter, include supplying primary liquefaction equipment for Train 7 and a boil-off gas re-liquefaction unit, as well as providing fleet-wide gas turbine technology upgrades. The projects are expected to add over 6 million tons per annum (MTPA) of additional LNG production capacity and enhance the efficiency of the existing facility.

Baker Hughes and Kodiak Gas Services announced a multi-year strategic agreement for power generation solutions. Baker Hughes will provide up to 1.8 GW of power generation capacity, with an initial award for approximately 1 GW to be delivered by 2030. This partnership aims to support Kodiak's expanding energy infrastructure initiatives, particularly for data centers and other critical infrastructure in key U.S. markets. The agreement includes NovaLT16 and Frame 5 gas turbines and BRUSH Power Generation generators, focusing on reliable, efficient, and rapidly deployable power.

Baker Hughes has announced the schedule for its second-quarter 2026 earnings release and webcast. The company will release its Q2 2026 results via press release on Sunday, July 26, 2026, at 5 p.m. Eastern Time. A webcast to discuss these results will follow on Monday, July 27, 2026, at 9:30 a.m. Eastern Time, accessible through its investor relations website.

Baker Hughes announced a significant award from Azule Energy to provide subsea production systems for Angola's Greater PAJ development. The company will supply deepwater horizontal tree systems, subsea control modules, and intervention workover control systems, along with associated equipment and services. This agreement expands Baker Hughes' offshore operations in Angola and reinforces its global subsea tree position, with deliveries expected to begin in 2027.

Baker Hughes and Mantle Reach Power, backed by EnCap Energy Transition Fund III, announced a commercial agreement to deploy large-scale geothermal energy in North America. The collaboration aims to install up to 500 megawatts of power within the next five years, leveraging Baker Hughes' integrated subsurface and surface technologies and Mantle Reach Power's development and financing expertise. This partnership seeks to overcome historical barriers to scaling geothermal energy, providing reliable, clean baseload power for growing electrification and digital infrastructure demands.

Baker Hughes announced a long-term service agreement with ANOH Gas Processing Company (AGPC) to provide comprehensive lifecycle services for turbomachinery at the ANOH Gas Processing Plant in Nigeria. The agreement includes parts, repair services, engineering advisory, and iCenter™ digital services for critical equipment, including two NovaLT™16 gas turbines. This deal reinforces Baker Hughes' role as a lifecycle solutions provider and its commitment to supporting West Africa's energy infrastructure and Nigeria's domestic energy goals.

Baker Hughes Company and Chart Industries, Inc. are in discussions with the European Commission regarding potential commitments to secure clearance for their merger. These proposed commitments are not anticipated to materially affect the commercial rationale or benefits of the acquisition. Despite an expected extension of the EC's Phase I review period due to these discussions, Baker Hughes continues to expect the merger to close in July 2026, subject to EC approval and customary closing conditions.

Baker Hughes announced a major contract extension with Petrobras to provide integrated well construction solutions across Brazil's Santos Basin. This agreement expands the company's comprehensive operations in several pre-salt offshore oilfields, deploying advanced technologies like AutoTrak rotary steerable systems and Dynamus drill bits. The project, executed by Baker Hughes' Integration & Solutions team alongside Petrobras, aims to enhance efficiency and innovation in deepwater well construction, building on a previous 2024 award.

Baker Hughes announced significant progress in its previously reported acquisition of Chart Industries, Inc. The company and Chart have concluded their pre-notification process with the European Commission (EC) and filed a Form CO on May 21, 2026, which initiates the EC's Phase I review period. Subject to receiving EC approval and other regulatory clearances, Baker Hughes anticipates the merger to close in July 2026.

Baker Hughes Company stockholders approved the 2026 Long-Term Incentive Plan (LTIP) and the Second Amended and Restated Employee Stock Purchase Plan (ESPP) at its Annual Meeting on May 19, 2026. The LTIP reserves 9,500,000 new shares, while the ESPP increases available shares by 9,500,000, bringing the total to 14,408,532 shares. These plans aim to attract and retain employees and directors through stock-based and cash-based incentive compensation. Additionally, all ten nominated directors were elected, the executive compensation program was approved on an advisory basis, and KPMG LLP was ratified as the independent auditor for fiscal year 2026.