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OFS - Baker Hughes finishes year in black despite OFS disappointment - February 2020
Baker Hughes’ Oilfield Services segment performed worse than the company expected in 4Q19, with operating income down 14% sequentially to $235 million. The company still managed to report a positive net income for 2019, making it the only one of the “Big Three” to do so. While US land activity declined overall during Q4, CFO Brian Worrell said the US OFS segment’s activity woes were “really largely customer- and basinspecific.” The segment also saw......
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