At the Offshore Technology Conference held in Houston on April 30, W&T Offshore Inc. (NYSE:WTI) and Baker Hughes, a GE company (NYSE: BHGE) announced a strategic partnership related to W&T’s joint exploration and development program, which includes 14 drilling projects, most of which are operated by W&T in the Gulf of Mexico (GoM).

The project utilizes a commercial model that consolidates BHGE engineering, products and services expertise in order to reduce total project costs and time to first production. The field development agreement will leverage BHGE’s portfolio to improve execution efficiency, reduce risk, and incentivize performance through shared objectives. The deal demonstrates BHGE’s fullstream capability by leveraging its integrated portfolio of offerings from oil field equipment (OFE) and oil field services.

The partnership announced on April 30 is part of W&T’s joint exploration and development program among a group of investors to drill up to 14 specified projects in the GoM over the next three years.

BHGE will provide drilling and evaluation, completions and well intervention, and pressure pumping services. It will also supply wellhead systems, subsea production systems which include subsea trees, controls and associated subsea connection systems. Surface wellheads and production equipment, as well as the associated installation tooling and services will also be provided from the OFE product company.

“This partnership with BHGE is the type of collaborative arrangement that is enabling renewed activity in the Gulf of Mexico,” Tracy Krohn, chairman and CEO of W&T, said. “By partnering closely with BHGE we are locking in service reliability and ensuring access to the broadest selection of equipment and services and advanced industry technology.”

Offshore