Baker Hughes - Legacy Companies - Completions

Completions

In 1929, Cicero C. Brown organized Brown Oil Tools in Houston, and patented the first liner hanger in 1937. Liner hangers enable drillers to lengthen their casing strings without having the liner pipe extend all the way to the surface. This saves capital cost and reduces weight borne by offshore platforms. Hughes Tool Company acquired Brown Oil Tools in 1978. In 1970, Baker Oil Tools acquired Lynes, Inc., which produced liner hangers and other completion equipment. In 1978, Baker Oil Tools introduced the Bakerline casing liner hanger. In 1985, the FlexLock Liner Hanger was introduced, extending the performance range and functionality of liner hanger systems. In 1987, the Brown liner hanger technology was merged into Baker Oil Tools. In 1992, BOT introduced the ZXP Liner Hanger Packer, with expandable metal seals, which set the stage for development of expandable screens, casing systems and liner hangers. Today, Baker Oil Tools is the industry leader in liner hanger technology, and liner hanger systems are BOT's largest product line.

In 1994, Baker Oil Tools introduced multilateral completion systems, which enabled operators to install completion tools and perform selective intervention work in multiple horizontal sections from a common main wellbore.

On August 31, 2009, the company announced an intention to purchase BJ Services Company in a $5.5 billion stock and cash deal. Greenhill & Co. advised on the transaction. On April 28, 2010, it was announced that Baker Hughes' acquisition of BJ Services had been finalized with some conditions.

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