A version of this story appears in the December 2017 edition of Oil and Gas Investor. Subscribe to the magazine here.
Upstream. Midstream. Downstream. Fullstream?
When two uber-large companies merge and bring different pieces of the puzzle together, maybe it’s time to rethink the jargon. Baker Hughes and GE Oil & Gas merged earlier this year, creating what, in president and CEO Lorenzo Simonelli’s vision, is a “fullstream” company that delivers one unified view with predictive analytics of oil and gas equipment, operations and process data that improves operational efficiency, speed and decision-making. Given both companies’ longtime involvement in the oil and gas industry, this “marriage” is taking the best from two great worlds of brands and history. Baker Hughes, for instance, comes from Hughes Christensen, Baker Oil Tools, Baker Atlas, etc. GE Oil & Gas, meanwhile, bought turbomachinery leader Nuovo Pignone, and then Vetco-Gray and a host of other companies, to enter the upstream oil and gas industry in a meaningful, ultimately, industry-leading way.
The result? Perhaps the world’s largest oilfield service, technology and equipment provider.