Baker Hughes' Orca in North Sea - Analyst Blog
15 Março 2012 - 9:15AM
Zacks
U.S. services giant Baker
Hughes Incorporated (BHI) – through its subsidiary – has
contracted a new state-of-the-art pressure pumping vessel to
provide offshore stimulation services to Danish player Maersk Oil
in the North Sea.
Known as Blue Orca, the new
stimulation vessel is expected to join Baker Hughes’ fleet as the
eighth unit upon its completion in late 2013. The company did not
divulge details regarding the yard which was building the vessel
but revealed the commencement of engineering work on the marine and
stimulation systems.
Per Baker Hughes, Blue Orca will
provide one of the leading fluid as well as proppant carrying
capacities in the world. The vessel – with a provision of offering
15,000 hydraulic horsepower pumping capacity and a capability to
pump at rates of over 60 barrels per minute – is to be rated to
15,000 pounds per square inch.
The Blue Orca will join Blue Tarpon
and Blue Dolphin – the Baker Hughes' newest additions to the Gulf
of Mexico – adapt at supporting offshore completion operations and
will be geared up to carry on high-rate and high-volume multi-zone
fracturing
operations.
Maersk Oil’s principal expertise
remains stimulation of long horizontal wells. It also forms the
basis for growth for the tight chalk reservoirs dominating Maersk
Oil’s portfolio.
Baker Hughes, the world's
third-largest oilfield services provider, is favorably positioned
with significant improvements in activity levels in both North
America and the international regions. The company’s strong
portfolio of products and services will help it generate
better-than-average results in the domestic market and enable it to
further penetrate in the international markets. The company also
has a competitive set of technologies, which allows it to pursue
deepwater activity in the Gulf of Mexico.
Baker Hughes holds a Zacks # 4 Rank,
which is equivalent to a Sell rating for a period of one to three
months. Longer term, we maintain our Neutral recommendation. The
company faces competition from the heavyweight Schlumberger
Ltd. (SLB).
BAKER-HUGHES (BHI): Free Stock Analysis Report
SCHLUMBERGER LT (SLB): Free Stock Analysis Report
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