BJ Services Company
Encyclopedia
BJ Services Company was an oil and gas equipment and services company that is now a subsidiary of Baker Hughes
.
It was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson and at its peak operated in more than 50 countries worldwide.
BJ Services Company is a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry
. Pressure pumping services consist of cementing and stimulation
services used in the completion
of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include completion tools, completion fluids, casing and tubular services, production chemical services, and precommissioning, maintenance and turnaround services in the pipeline and process business, including pipeline inspection.
On April 28, 2010, the company was bought by Baker Hughes in a $5.5 billion stock and cash deal. Greenhill & Co.
advised on the transaction.
Baker Hughes
Baker Hughes Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion, production and reservoir consulting. Baker Hughes operates in over 90 countries worldwide mainly based in countries with a mature petroleum industry as is...
.
It was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson and at its peak operated in more than 50 countries worldwide.
BJ Services Company is a leading worldwide provider of pressure pumping and oilfield services for the petroleum industry
Petroleum industry
The petroleum industry includes the global processes of exploration, extraction, refining, transporting , and marketing petroleum products. The largest volume products of the industry are fuel oil and gasoline...
. Pressure pumping services consist of cementing and stimulation
Hydraulic fracturing
Considerable controversy surrounds the current implementation of hydraulic fracturing technology in the United States. Hydraulic fracturing, or fracking, is the process of utilizing pressurized water, or some other liquid, to fracture rock layers and release petroleum, natural gas, or other...
services used in the completion
Completion (oil and gas wells)
In petroleum production, completion is the process of making a well ready for production . This principally involves preparing the bottom of the hole to the required specifications, running in the production tubing and its associated down hole tools as well as perforating and stimulating as...
of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include completion tools, completion fluids, casing and tubular services, production chemical services, and precommissioning, maintenance and turnaround services in the pipeline and process business, including pipeline inspection.
On April 28, 2010, the company was bought by Baker Hughes in a $5.5 billion stock and cash deal. Greenhill & Co.
Greenhill & Co.
Greenhill & Co., Inc. is a leading independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raisings to corporations, partnerships, institutions and governments. The firm made $298.6m in sales in 2009, with a...
advised on the transaction.