25 Burst results for "Baker Hughes"
"baker hughes" Discussed on The Drill Down
"Required. <Speech_Music_Male> Oh, right. All <Speech_Male> right. <SpeakerChange> So <Silence> carry on his prospect. <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Silence> <Silence> Now <Silence> I know. <Speech_Male> <Speech_Male> You have something every day <Speech_Male> of the drill down I hope. <Speech_Male> Thank you, Dorian <Speech_Male> Dorian. Thank you so <Speech_Male> much. My pleasure. <Speech_Male> Thanks, Corey. <Speech_Male> I really appreciate <Speech_Male> your time. When <Speech_Male> we come back, we're going to have one. <Speech_Male> We're going to talk about that profitability <Speech_Male> at Perry on <Speech_Male> and the how robust <Speech_Male> it has been, despite <Speech_Male> the pandemic and a really <Speech_Male> rough time in the beginning <Speech_Male> of 2020 that <Speech_Male> we all had, this <Speech_Male> company is doing quite well <Speech_Male> turning a lot a lot of profits. <Speech_Male> What kind of profitability are we <Speech_Male> talking about? We'll have <Speech_Male> <Advertisement> that number. <Speech_Music_Male> <Advertisement> The drill down <SpeakerChange> by when the drill <Speech_Music_Male> down continues. <Speech_Music_Female> The drill <Speech_Music_Female> down is brought to you <Speech_Female> by era <Speech_Female> with era, give <Speech_Female> yourself an <Speech_Music_Female> information advantage. <Speech_Female> <Advertisement> Connect <Speech_Female> directly to earnings <Speech_Music_Female> calls and other investor <Speech_Music_Female> events with live <Speech_Female> transcription and <Speech_Female> in the intelligence. <Speech_Female> That's <Speech_Music_Female> era, <SpeakerChange> AI <Speech_Music_Female> <Speech_Music_Male> <Advertisement> dot <Speech_Music_Male> <Advertisement> com. And you <Speech_Music_Male> <Advertisement> can listen to the drill down <Speech_Music_Male> <Advertisement> every day and strongly <Speech_Music_Male> <Advertisement> encourage you <Speech_Music_Male> <Advertisement> to do some strong. <Speech_Music_Male> And that's <Speech_Music_Male> easier if you <Speech_Music_Male> use your smart speaker <Speech_Music_Male> journal that smart speaker. <Speech_Music_Male> Say something <Speech_Music_Male> like, hey, Alexa, <Speech_Music_Male> <Advertisement> play the drill down podcast. <Speech_Music_Male> <Advertisement> <Music> <Advertisement> You can listen to our latest <Music> <Advertisement> show. <Music> <Advertisement> <Speech_Music_Male> <SpeakerChange> <Speech_Music_Male> <Speech_Male> All right, <Speech_Music_Male> Perry on <Speech_Music_Male> siobhan, interesting <Speech_Music_Male> company. <Speech_Male> <Speech_Male> Growing, <Speech_Music_Male> as I mentioned growing <Speech_Male> in the top line, <Speech_Male> profitable <Speech_Male> in that growth, <Speech_Male> indeed they had a <Speech_Male> $10 million <Speech_Male> profit <Speech_Male> last <Speech_Male> year and the year <Speech_Male> 2020, <SpeakerChange> the difficult <Speech_Male> year the 2020 <Speech_Music_Male> was. <Speech_Music_Male> But <Speech_Music_Male> <SpeakerChange> they <Silence> <Speech_Male> <Speech_Male> had a really <Speech_Male> nice profit growth. Our <Speech_Male> revenue growth I should say, <Speech_Male> the revenues <Silence> hit 328 <Speech_Male> <Speech_Male> $1 million <Speech_Male> for the quarter <Speech_Male> up from 261 <Speech_Male> <Speech_Male> the year before. <Speech_Male> So really <Speech_Male> strong growth <Speech_Male> for this company. Those are <Speech_Male> driven by 328 million <Speech_Male> <Speech_Male> $63,000 <Speech_Male> <Speech_Male> in revenue <Speech_Male> for Perry on <Speech_Male> principal and <Speech_Male> display in search advertising <Speech_Male> revenues <Speech_Male> and <Speech_Male> as we just heard of the company's <Speech_Male> growing <Speech_Male> away <SpeakerChange> from scandal <Silence> and crapware. <Speech_Female> <Speech_Female> That's nice. You <Speech_Female> know, I still <Speech_Female> can not <Speech_Male> get some of <Speech_Female> this crapware off <Speech_Female> of my computer. I <Speech_Female> still <Speech_Female> get bug <Speech_Female> with McAfee <Speech_Male> updates <Speech_Male> and all kinds of things. <Speech_Male> Can not figure out <Speech_Music_Male> how to get <Speech_Music_Male> all those links siobhan. <Speech_Music_Male> <Speech_Music_Male> <Speech_Male> Practice some <Speech_Male> computer <SpeakerChange> hygiene <Speech_Female> for God's sake. <Speech_Female> Well, look, <Speech_Female> I need a hygienist <Speech_Female> to come over here <Speech_Female> and <Speech_Female> get this junk <Speech_Female> off my laptop. <Speech_Female> Every time I <Speech_Female> turn it on or off, <Silence> it's asking me <Speech_Female> about, <Speech_Female> you know, updating <Speech_Female> this and that <Speech_Female> I mean really. <Speech_Female> If someone <Speech_Female> comes up with a solution <Speech_Female> to get this stuff <Speech_Female> off your <Silence> laptop, I'm <Speech_Music_Male> in. <SpeakerChange> <Speech_Music_Male> I'm all the way in. <Speech_Male> Well, clearly, <Speech_Male> these guys have found a <Speech_Male> way to get achieved that 25% <Speech_Male> year over <Speech_Male> year growth <Speech_Male> without it. <Speech_Male> Shawn, thank you very much. <Speech_Music_Male> Glad to have <SpeakerChange> you on. We <Speech_Female> come back tomorrow, please. <Speech_Female> I <Speech_Music_Female> will be here <Speech_Female> tomorrow if Thursday. <Speech_Female> It's a new <Speech_Female>
"baker hughes" Discussed on The Drill Down
"Like me. You're not a guy, huh? Do you know Isaac is addicted to moisturizers? Really? Okay, but is he a Sephora or an older guy? I say it he's also, I don't actually know knowing him he's got some more fancier. I have an alternative. He might be Neiman Marcus. Yeah. He might be sex with avenue type. Most of my Jack Black situation. I do not please do tell. Ex-girlfriend is when we drink when I mentioned the next girlfriend ex-girlfriend started Jack Black, this fantastic bend skin care company and she once sent me a care package and I'm addicted. Okay. Good. Good. Well, you know, I'll go between alter and Sephora. I don't have a lot of brand loyalty. I'll have to say, it depends where I am. And what is closest? So I'm very interested to learn about these techniques. That the CEO just spoke of to personalize and pinpoint and get some loyalty from a customer like me. I don't know how they do that. Cory, what is your next drill down? Let's look at radius health, big day for radius health. Radius health, it trades with the tik RD U.S.. Shares were up 17%, but for the last 12 months, shares were up 35%. Now what is the story with radius health? So raise health is a BioTech company that got a readout today read out being, of course, results from a trial. And the results were positive. They've got an experimental therapy called I'm going to say if I could say right, elect a strand, and it met its primary endpoint in a late stage trial for certain patients with breast cancer, 466 patients were in the study and they found that this treatment. Elect strand gotta hate these names of these drugs. Unless the strands, sure, okay, let's just drain. They've already gotten so it was interesting because they had out licenses already this Italian company marinara group, but a less became the first estrogen receptor degrader to show positive data against a standard of care, standard of care being what they would have done otherwise for ER positive her two negative advanced metastatic breast cancer. What is an estrogen receptor degrader? You might ask siobhan? Well, you did rate my mind, Cory, please. Please do tell. Well, I've actually done a lot of research for this on this topic. So let's review breast cancer. So there are three indications of cancerous tumors or cancer types of breast cancer. And this is for every stage of cancer. It's been stage one or you're all the way to stage four and it's spread throughout your body. The cancer cells itself have these characteristics and breast cancer. They may have any one of three categories of characterizations or all three or none of the three, but it will have an estrogen receptor. It would be E are positive, which are the cells the estrogen cells the receptors allow them to use the hormone estrogen to grow, so an anti estrogen hormone can block the growth of that cancer cell, or might have a progesterone receptor, same deal that grows with a progesterone on a naturally occurring thing in the body, but progesterone can lead to growth so slowing down the progesterone in a woman's body would slow down that kind of cancer cell or could have the her two gene. Her two positive cancers, they produce too much of a growth promoting protein called her two. So you could have estrogen receptor progesterone receptor and her two gene positive. You could have estrogen receptor positive. You could have estrogen receptor imagine a grid where you've sort of got any one of these possibilities in all of these possibilities. That dictates what kind of treatment can help deal with the breast cancer. So this elasti strand is for estrogen receptor positive and her two negative a certain type of breast cancer. And I can't remember how common that is. Goldman Sachs looked at this and said that this could mean it's going to be about a $400 million business for this company approved in a licensing deal up to 700 million to 70 million a year in revenues, but because they licensed this to Medina. They limited their downside, yes, but they also limited their upside. So on a day like today, the stock moved quite a bit, but they will not reap all the benefits from this positive study. They talked about that, the new CEO Kelly Martin talking about how they had a good partner in mantellini that had taken away some of the event risk. I don't know if they knew it would be so positive when the news came out today. But here's what he had to say about it a couple months ago. The last Australian is now partnered with our good partner menarini group from Italy. That transaction in my opinion last summer was the most important thing over the last 12 months that we got accomplished. We liked the space, meaning the breast cancer space. It is a crowded and sophisticated space. We do have with men and the lead molecule from a timeline point of view. And we would also characterize that data readout as upside to us given the transaction that we did last year, which took out the event risk for us. So I hope it also takes away a lot of the risk for the women suffering from this particular kind of cancer, this particular kind of breast cancer estrogen receptor positive her two negative type of breast cancer, scary stuff. I'm glad to have more help with them in the market. Couldn't agree more. All right, Cory, what is your next drill down? It's like a baker Hughes. Baker Hughes. It trades with the ticket bkr, shares were down 6%. But again, for the last 12 months, she has were up 86%. Now, what is the story with baker Hughes? Baker Hughes is a giant baker Hughes is by some counts the second largest Halliburton only has one of the largest oil field services company $28 billion revenue or $28 billion market cap for this company. But when you think oil services, you wouldn't think this company could get away with blaming semiconductor shortages or weak quarter, but they did. So let's talk about the quarter they reported the Q three overall pretty good from what I can see. Revenue is up 1% to $5.1 billion, profits of $8 million compared to a loss of the year before, about 200 million. But there are four segments, the smallest of which was really the victim of the semiconductor issue. But oil field services up 5%, turbo machinery and solutions, process solutions up 3%. Oil field equipment down 17% for obvious reasons, oil prices during the quarter and some hurricane stuff. But digital solutions up only 1.4% to $510 million. Yes, digital solutions is a business we might not think about when we think about baker Hughes, but very important for these guys. And it just has been a struggling business. And interestingly, again, they're focusing on the problem that semiconductors gave them and getting equipment in the field, slowing down their implementation of both equipment and the software behind it. Here's chief financial officer Brian worrell. We did see a few challenges in the quarter. And I'd say the supply chain is primarily focused around electrical component shortages, largely around semiconductors, boards and displays. That led to really some lower convertibility in the quarter. And there's real tightness in supply in that market. We did have a quality issue from one of our suppliers that came out late in the quarter. And with the tightness in the supply chain and then the supplier base, that typically could have been rectified within the quarter that is certainly had an impact and made some made.
"baker hughes" Discussed on Arrowhead Pride
"I think baker has fallen by the wayside. Just a little bit in practice. Just because i think the team is wanted to and they have given him a few off days. I think just you broke your leg last year. I mean you probably still need to kind of have some load management a little bit as you're getting back there so i think that's the main reason why he uses like cement has taken over right now as cornerback. Three but it is far from over my opinion. I think this battle might go into the regular season and who knows i think could go game by game whether which one of these guys is is really that guy outside and the nickel formation. That's what i was just thinking. Is this even a competition or is this just a case of the to have a bunch of guys. Now that they can rotate in a matchups. Maybe there is no competition per se between houston baker. Maybe both of them are set up to have good seasons and we already know the jury needs to really be the future corner and chavez ward is chavez word is going to be there is a stable reliable guy on the outside and everybody else they can plug and play given the scenario given the matchup given the defense they wanna play the game plan and the health of everybody else. It's good to have not just a baker hughes who again both were very good on saturday night but also rashaad Who played pretty well and also it's coming off of a strong your last year. Yeah i kind of said it this entire camp. But i've always i've been just kind of not shocked. I would say but just fen played really well outside cornerback last year when he when he had to he didn't have to play it all the time. But i i've mentioned on the pockets of forest specifically that week four game against the patriots. Man he had like four pass break up and interception and he looked really good outside he was only plan outside that game so i think he maybe they already know what they have in fenton at outside and they're just really wanted him to focus on slot just in case something does happen and they need. Because that's he's been doing all is just backing up need in the side. He's been running with the second team as a slot defender not really getting a lot of run outside cornerback. Although he did on saturday in a preseason game so i think fenton just might be that guy that he might be just as much in the competition. Just not getting as many reps right now because they wanna see it from baker hughes and maybe stanton they are to kind know what they have so. Hey let's just have you worked on slot where we were. You know we know probably might be more vital than if you're on the outside do a this is a good spotless..
"baker hughes" Discussed on The Oil
"Seventy stayed fairly flat the quote stimulus market was quote. We still have a ways to go from white house staff mark metals after. They met tuesday afternoon so or wednesday afternoon again. Stimulus that as you see the over you'll see it thursday. The overnight session just drove it down. Low we move over into the crude oil markets. Libya's back at it against newsmen rented a bunch of stuff on them last week. The rounded again turn it on multiple fields cruel prices really fall amid those reports trading all the way down to below forty bucks at one point seven about forty thirteen. We ahead hadn't ran the show. It's about three percents overnight. Levels natural gas inventories went ahead and spike after there was supposedly going to be a thirty nine. Nine draw We also saw crude oil inventories dropped. This day. didn't really move marks. We actually spent about a five hundred thousand barrel builds up. About a million barrel we're finally utilization dropped seventy two point nine percentage points getting down to those pre pandemic low or those mid pandemic lows which is not good to see a gas. Prices dropped fifty cents round in asia total. Us stocks were down a million that brings us to four hundred and eighty eight point. One million weekly production. I don't take too much stock pun intended into this. Just because the fact that we're coming off her gay delta he was down about six hundred thousand nine point nine per us field production. Those all through. October sixteenth on a mention of the natural gas. Api came out and reportedly he's going to do a thirty nine trump. We'll see what happens We finally and that drove prices above dollars. I mean people were having parties within the last time we freak out over three dollars gas which is kind of a funny thing. We also saw baker hughes slumber j. Come out these coupled baker hughes slot machine. How come out and i'll drop earnings this week. I don't want to cover those all bulkin one when we get to the end here but it kind of highlights Slumber j. post quarter quarter A slight game. They do see a drop in their international stuff though And they see a nice little increase in equi split where they bring over that one stadium deal so we we we. We haven't seen it on their stamp yet. halberg comes out reports losses Baker hughes actually reports slight gains from quarter to quarter so all in all for the us oilfield service. I know we don't cover that terribly close on this show. I think the oilfield services. If if you're not how britain's lumberjack baker hughes or or liberty at this point you know you're done. I'm sorry there ain't no money in it for the big boys that don't mean there's that means there's no money in it for the small guys because that means there's capital that means you have to go raise money you have to do all these equity offerings all these different jobs to just keep it alive and he's small guys to be able to do that so you know i recommend checking out of the three sixty news is type all these you can go. Look at their a revenue state. You can look at their quarterly reports. not much not much is on the international side. You ran iraq. What this libya stuff gives us up the libya and got iraq. On tuesday libya on wednesday iraq kind of wipe them out again on tuesday michael and the iraqi oil minister Gave some numbers out. And he said he's going to increase his production seven million barrels per day by twenty twenty seven..
"baker hughes" Discussed on Bloomberg Radio New York
"U. S. Dollars yet a gloomy demand outlook lingers with Corona virus cases. Surging crude is on track for a weekly decline as California, Texas and Florida record some of their biggest daily gains in cases and deaths this week. Corona virus Endemic is far from easing around the world and the international energy Agency set of jumpin cases could derail the market recovery. We need a young Bloomberg radio again. West Texas Intermediate crewed up now by 1.4% 40 18 a barrel. 102 on Wall Street time now for your market drivers report. Here he is. Dave Wilson. Thanks, Charlie looking an American depositary receipts as I do at this hour every weekday theeighty ours are higher, along with US shares. The S and P. A. T r index is up 4/10 of a percent. D S and P five hundred's also up 4/10 of a percent. Frances Alstom has gained 5.1% in US trading. The European Commission set of July 31st deadline to rule on the train maker's $7 billion takeover offer for the rail unit of Cannons bombarding, eh? Howsam said yesterday that it would offer several concessions to get the deal approved Germany's bio in Tech as climbed 6.5%. Co founder and CEO Cougar Sahin told The Wall Street Journal. He expects the company to produce more than a 1,000,000 doses of covert 19 vaccine next year. Violent tech is developing the vaccine, with US based Fizer. Taiwan Semiconductor manufacturing a slip 2% the 80 yards air lower even though June results indicated second quarter revenue was higher than ANALYSTSAVERAGE estimate, The Bloomberg survey. Now the 80 years had jumped 48% from a march low before the data came out, and China why Iife Insurance has lost 5.1%. The company reported The first half revenue dropped 16% from a year ago, even though last month's sales rose 44%. Charlie All right, Well, thank you very much day Wilson keeping track of those American depositary receipts, This is the time of week where we get the weekly rig count numbers out of Baker Hughes Baker Hughes says the oil rig count Down by four this week. The 181 re capping equities mixed The Dow, the S and P. Higher NASDAQ lore has some PR 13 up 4/10 of 1%. I'm Charlie Pellet, that is a Bloomberg business Flash. He's bound to.
"baker hughes" Discussed on Bloomberg Radio New York
"Up five tenths of one percent of eight dollars an ounce of seventeen of thirty five again recapping here we've got the Dow the S. and P. lower nasdaq is are just getting the weekly brick count numbers out of Baker Hughes closely watched by a lot of people in the energy industry rig count down by twenty one to three hundred eighteen in the latest week again according to Baker Hughes today's big economic story coronavirus shutdowns lead to job losses in every American state in April Michigan Vermont New York suffered the greatest losses unemployment in forty three states rose to the highest on records back to nineteen seventy six Nevada's jobless rate reached twenty eight point two percent while a while he said twenty two point three percent both states rely heavily on tourism earnings nvidia shares rallied three point one percent but in the other direction Hewlett Packard enterprise plunging eleven percent recapping S. and P. lower now by a point little changed the Dow down eighty six nasdaq up seventy I'm Charlie color that is a Bloomberg business slash everybody I'm an enemy and that's when the war against virus the world of politics the world is the health and well being and the lives of the American people we are most people the American people balance of power with the west Bloomberg radio China throws down the gauntlet on Hong Kong president trump continues to take a controversial drug rather than.
"baker hughes" Discussed on Permian Perspective Podcast
"I really enjoyed that and thanks again. Gentlemen that was fun to hear. Different perspectives and how they are dealing with the pandemic. I've posted links in the show notes to part one and two of our virtual roundtable. If you would like to listen if you WANNA watch us you can go to those links and part three will be out in the next week or two. So it's time now to announce today's community MVP and today's community. Mvp is an absolutely wonderful mental health source here in West Texas Centers for families and children and this caught my attention on social media. Recently centers is proud to provide two free sessions to healthcare workers and first responders who were fighting Ovid nineteen. I am not surprised by generosity. Centers does so many wonderful things here in our community and we thank you centers. We thank you healthcare workers and we thank you first responders for all you do. You are the true heroes during this difficult time. So that concludes this episode of Permian Perspective. A special thank you to Baker Hughes for sponsoring our show Baker Hughes you know recently launched a new and reimagined Baker Hughes brand and as an energy technology company they are striving to make energy safer cleaner and more efficient for people and the planet. Okay remember my life. Matas is always dream big believe and never give up these words or so true not only today but tomorrow and the next day and the next day and the next day. That's right. We are all in this together. So DREAM BIG BELIEVER. Never give up. Thanks again for joining us for Permian perspective. The story behind the oil and gas leaders in the Permian. You make it a great day. Hey everybody Alex here with the events on deck so do current circumstances of course we are not able to have any in person events so I've nothing of that nature to update you guys on but we have been hosting some virtual events so obgyn is wanting to offer free webinars live happy hours et Cetera. During this time since these events are not scheduled out as far in advance as in person events we would like to keep you guys updated via facebook Lincoln twitter so be sure to keep checking on that. And we'll keep you guys posted on anything. We're offering. It has been free to offer you guys value during this time that we're all at home so please continue checking in and joining us for these virtual events. We are looking forward to seeing you guys whenever we're able to have in person events and hope you're staying safe and sound tune in next week for another episode of Permian Perspective it production of the oil and gas global network learn more at www dot obgyn dot.
"baker hughes" Discussed on Permian Perspective Podcast
"We're in today right great suggestion thank you so much never favorite so in the environmental world where. I came from before I got into oil and Gas Industry I. We had a big belief in a lot of college courses. That I took was be a voice for the voiceless. And I think that that's not necessarily only related to the the environmental the animals and critters that we were talking about from that perspective but it goes into businesses. Well and I think that's our our challenge for leaders to really remember that every decision that you make. You're making that decision not only for your team but for the company and your job is leader in my opinion is to really focus on. I'm the sounding board for every single employee ever engaged with or the impact that these decisions are going to be made either at a board level were out in in whatever decisions that we make across the organization and I think that's our challenge and our opportunity to really focus on in that voice for the voiceless. Either that your team's not in the room that day and that's the voiceless folks or that it's the operational folks that that are actually doing the work every day and the impacts that we could be making from that and I know that you've gone through similar things like Adam sure in your time over at rig. Id that you've had to be that sounding board knowing what that's going to be so I think that's one of the biggest ones that I live by. Is the voice for the voiceless in front of those of you who sat in meetings with me. I'm tend to not be very quiet in may be the voice of Works of. I Love Lot of times. People pay their almost scared sharing your opinion and a lot of ways and so they don't step up and say that in free. You mentioned that you really need to be listening. You're a man you've I so for sharing. Let's talk about most important less than you earn. This evening is to be in the workplace so I'm really appreciative of the upbringing that I've had from my parents in how all of that has really shaped. Who I am. And I think that ultimately feeds back to the community aspects that what makes this basin. So unique is yup renting and the expectations from from folks. That are close to to oneself. I cannot think my parents enough for the way that we were busy in both academically in school in sports we still made the time to give back local community that was through church groups or if that was through charitable giving or that was through the use our time. I think ultimately for us in my own personal background. It was always through the gift of time. I don't think that we really gave a lot of money. Because I don't think we really had a lot of money and that doesn't need to hold us back from making impacts in communities and that's really the the interesting opportunity that we all have. If that makes any sense absolutely Larry I. I think that makes sense. I love that. He has guests in US gifts and time. Did you get sworn timers number because you're showing air? You're showing that you can do not always have to love. That is that is a funeral. Let's talk him out of my Fianna similar journey as you went ice would you give to them whilst gas industry somebody that right now seeing what's happening in the world but if they said but with this is awesome it's great? I mean I was recently up at Texas Tech Petroleum engineers the other day and some of the other divisions that they have up there so shout out to those folks were not another great now but are still students of Texas tax due to the current situation with Kobe. But I think what we all should really focus on his figuring out a way to say yes. I think often it's easy to say. No in general and we need to figure out how to turn those into yeses and that's really my best advice is to figure out. How do we say Yes to situations that your first instinct is to say no and that you're going to do that to continue to ask? Why ask why why why? Why why? Why is it done that way? Why are we doing it this way? Why do you say no and really start to have some of US crucial conversations with everyone around you and figuring out a way to say yes and then also running towards it? I mean this industry in in any other industry and honesty since I've worked outside the the oil and gas industry as well is the value. That you have is is what you're able to to complete and the influences that you can make around you that cultural aspect of it comes back down to the figure out a way to say yes and that is really just down to ownership own your process love what you do and that passion will definitely pass onto those around you and that'll ultimately always comes back down to culture arts. Great thank you so much weight to straighten out is to general. I'm still trying to really wrap my head around the whole part of the oil and gas industry in all honesty. I'm excited about understanding new things every day. I've extraordinarily curious mind and I like learning new things and it's even better when it's related to what I do everyday so that I don't realize that it's seven o'clock at night. My wife calls me and says a things time to come home. Oh shoot it's late at night so really knowing and having folks around you who understand your passions in understanding how to live and how to how to find joying do every and if you don't find joy it's probably time to move on to something else that you're going to find joining it and that's really an opportunity for us all in every position as you mentioned my background's been quite quite unique quite a few different positions that. I've held in a short amount of time but I found joining every single. One of them was more of an opportunity that I've had other leaders that I've worked for to really push me out of my comfort zone and really get after. What opportunities are in front of me and I think that it falls back to that. Yes what how do you say? Yes of this opportunity. And what makes the most sense for you in that situation and don't don't psych yourself out? Don't think what this is going to do ten years because in all honesty you're probably not going to be in that role for ten years in or if you are you're probably going to have a different scope of work of what you're doing in that role so less about the title and more about the day to day. Something good closing almost minor. He's lately tell me something. I think right now in a row prices when you hear the stories of that are impacted is sometimes it? Can it can start way your heart so I love the news johnny something. I appreciate that I agree. I think that we all need to take this as an opportunity and the good news for me has been just lifestyle in general. I've personally had a lot more of a healthy lifestyle these last few weeks than I have before from the Hustle and bustle aspects. I'm far more connected on the phone. Thou also allows me to go out and get some sunshine every day and and go out for neighborhood walk and beyond that conference. Caller that phone call that we all have to take every day just getting out.
"baker hughes" Discussed on Permian Perspective Podcast
"I'm kind of excited about but then also as I mentioned kind of missing out on some of that as well. So for me selfishly. I can hit a lot more meetings in a day on our performance in what we're doing is a business with various customer base because I can simply call in back to back so if I had one in from one to two and two to three before. The video conferencing was a wasn't appropriate method. I'd only have to choose one or the other. I couldn't do both because of the distance between all the different field office so it's just kind of understanding what that looks like from certain certain parts of the business but then on the other parts of the business were still operating business as usual. I mean we were all deemed essential employees within this industry and from what we do reach job function but it's been also kind of a a nice opportunity for us to get out and continue to execute and figure out what that you normally look like from an operational perspective as well how about. Tina's Morales everybody's arena about being able to work this way. I'm sure their child is as you now. So many people air everywhere are not being able to work extruders at gratefulness. They're absolutely. That's definitely a big challenge. Right is is making sure that Morales there when you can't just walk into their office and say hey housing's going. I know it's been rough. I know that we're doing X Y. And Z but to not be able to have that informal. Face-to-face allows us to make sure that we're being intentional in what we do what we spend our time on. I know that for me personally. I have to charge my phone probably three or four times a day now for how much. I'm on it for either. My team with with the customers that we work for to make sure that we're all still keeping that high level of connection and communication across the industry. The guilty your time is up. Eighty rang oh my phone way too much on the way too much bigger supporting as ams community members through this. I know you mentioned that you know. You are saying connected. Is there anything else that vader is doing in general to the Union? Yeah absolutely so from simple things like donations and bring him baskets to our frontline healthcare workers down here in the midland. Odessa area that we've dropped off baskets for for some of the nurses and doctors and other aspects that hospitals in centers like that to first responders making sure that their understand that were with them. We understand exactly what what they're having to go into every day or even the grocery store workers that were unbelievable thankful for that they're opening that more and more times for folks to allow the social distancing to happen at the right method. But one thing that I'm personally really proud of is our supply chain in the chemicals rolled to pivot what we were doing operationally to take an opportunity to make some hand sanitizers for both our operations folks that needed some but more importantly his for the stuff that we're able to donate to the state of New Mexico and other agencies up in that in that area that I think often gets forgotten about that. It's important that they understand that in these remote areas that were here for them. Were there for them from an oil and gas respective and those four counties in the southeastern corner but then also were there for them from a industry perspective from a community perspective and it was a great honor for us to be able to to deliver hundreds of gallons of hand. Sanitizer in and face masks. I know that you guys have been doing the same thing over at Reagan and it's just great to see wrote a community coming together in these types of crisis used to to meet the needs of what the community is asking for. That's fantastic that you're doing and that is one of the things that is so wonderful. The Permian Basin helps everybody in custody. Gather in crisis than when we're not impresses you come together so it just seems like when we are seeing challenging times like right now. It's like stepped up. One hundred percents than war oriented is which is is beautiful absolutely. I mean that's what makes this place you can you for that time and time again from every person that you've interviewed here is and I'm I'm a transplant right. I didn't grow up. I wasn't born and raised here in the Permian Basin or West Texas New Mexico. But it's really noticeable. How much of community impacts us and that was for me what I feel the most at home about being up here I lived in Houston of the door Louisiana but for me the Permian Basin has just been that arms wide open. We're in this together. We understand it's remote out here but it's not the most remote place I've ever lived so it's been really a welcome change and a welcome attitude from the community. We have around US often. Good Times in in bed hersher. What does the future whole house? A hat has changed the way that Baker Business Future. Yeah I think it's really GonNa Change in general for the industry not just oil and gas but all industries doing Bill Gates had a pretty good commentary about this the other day of what does business travel with like in the future isn't even needed or we pivoting to a point where we can leverage technology to avoid some of the either internal or external meetings that were doing because we thought that we had to drive halfway across the country or jumping airplane and have that meeting face to face. And don't get me wrong. I will still be jumping into a car or an airplane to go out and trout customers. But it's really gonNA serve to make you think are some of these able to be done remotely not only from time efficiency perspective but also from a cost savings perspective to business. So I think we're really in a situation where it's fluid and we have no idea what the future holds but I thought Bill Gates comments around business travel. Were probably the most spot on that. I've seen on what is business. Travel in general look like and what impact is going to make the hospitality or transportation industry in this new normal as a great point. That is not enough. The faced a certainly is the is the right to do business. There are sometimes that now. Maybe you don't need to take that trip. That is going to cost a lot of money and making it done now because It does too for some things I love that. Let's talk to g and how Baker Hughes who is this is something you've been doing before Kobe. The use of drowns in automation up and out. I'm happy to see that you recognize the technology aspects of that as you know Baker Hughes. Reinvented that brand. As you mentioned every week as an energy technology company in that something. That's in the core of our company of this drones will bring that up I. It's been really a unique application that we've been doing refu- years now started in adventures and Growth Area and then we bought it back into the business and it's been just a blessing ever since we've done that. The primary focus is is the fact that we're actually not a drone company and. I don't think anyone ever wants to be that what we're really focused on is. How does that technology impact the business that we do? So the most prevalent example talk about is methane emissions monitoring missions and other fugitive emissions. That come from this industry were that we're using from an operational perspective. And how do we identify the problem faster so that we can fix the problem? It's similar conversations. On data collection database management were eighty percent of the time you spend focusing on making that it's in the right format and then twenty percent of the time you're actually doing the work and through the use of drones and other automation devices. It really allows you to focus more of your effort on on the actual fixing of the problems and identification of the problems and not just problems but also on the positives. Is that as well so that you're more efficient and doing a lot more value add tasks on a day-to-day basis. I think drones is really an exciting opportunity not just for the oil and gas industry but also for for all industries to see from a manufacturing perspective. I know that they've been doing a lot on the alternative energy as well through flayed monitoring on winter vines and other things like that to really focus in on reducing some of the hse risks. That before someone would have to climb up the ladder as tall as a skyscraper to go and inspect blades. Visually and that is now done on.
"baker hughes" Discussed on Permian Perspective Podcast
"Crash for what the industry was soon to come to be. You're so right because there are so many different names after you say that really should be aimed at world and gas dictionary out. People go ahead last because it really isn't too different world. Why don't you so much when you were immersed into first year so I would really fortunate to get? My career started out in the field as a field engineer working in the Gulf of Mexico so I went from Louisiana is whereas based out of out of Homa so shot up to those okposo Louisiana and our Cajun friends that are accurate the Permian Basin right now and then. I even had an opportunity to go in and drill the Lisa one well for Exxon Mobil down in in South American Guyana. Now is my. I was actually my last time. Offshore was for that Lisa one well before I moved into a global operations which I spent a lot of my time in the Middle East and northern Europe so is rarely unique experience but every day being something completely different in the thirteen hour days and being the most fit of my of my life working out twice a day and then the whole twelve hours. While you're working. It was a really fun fun time of my house. I definitely am appreciative. That I had exposure and experience to really understand what it's like to work out in the field before moving into a role in more of a sales in commercial. Now I currently sit in that world travel that you were waiting to see. How did you not toiling gas right is? You're you're saying I don't WANNA sit. Sit sit here in hind the death so much and you wanted to go out travel. How did that travel then? Eventually take you cure yet. No great question so when I was before I moved out to the Permian Basin and global operations it was really focused around travelling to our operational basis around the world and making sure that our folks have the right resources had the right new technology that they have the right acquitted for them to really win in those marketplaces so I spent a lot of time in the North Sea. A whole lot of time in Italy which was a great place for oil and and I had no idea it was such a strong oiling gas country until I was over there all the time and primarily down in Sicily doing some really unique drilling operations on land in the centre part of the country and then I spent the whole time in the Middle East in Kuwait and Saudi Arabia an and alone and the United Arab Emirates. So it's been a fun ride but two years ago before I moved up to the Permian. They gave you an option to to go into Kuwait or to come back to the Permian Basin and my wife and I really had a hard decision to figure out what she was going to do. And what I was going to do with my career and figure that out but we we came out midland. We drove from Houston out to midland the first time and she interviewed out here with Midland. Isd She works for the school district here. So it's been. I wanted to make sure that she home. And before I knew what this was in two thousand sixteen two thousand seventeen was. There's no shortage of opportunities for her revealed field so after that moment we said okay. Let's let's look at the Permian Basin because it would be a pretty easy transition of life and we fell in love with people in aspect of community here. That really reminded me a lot of what home was like for me back up in the north woods both in Minnesota and Michigan for for my wife. So it's been it's been a blast but it's been fine the commonalities between what we do and what we do back home. Our families are there a lot of differences can. Can you really a big difference between life permanent other places? I know you're kind of unique. Little landlocked wrap your little notice. A lot of people say but it's an it is a unique place to live absolutely absolutely so it's it's unique in some aspects of it similar and others. I think what I now when I go back up to visit my parents or my nephews and nieces is when I go to shake someone's hand which is a common thing down here. Maybe not with Kobe right now. However that's always a bit of a strange deal as well as kind of a southern hospitality of holding doors open for other people when they come in and out as just some of those nuances are a little bit different and then also now my accent is definitely not a Minnesota North Woods That it used to be tried to get rid of that pretty quick when I was down in southern Louisiana. Nobody could understand what I was saying. I couldn't really understand what they were saying. So is a mutual understanding trying to understand how to communicate once again. It's been a blast but it's definitely there is some similarities and some differences but the biggest ones that stand out as the shaking hands when you meet someone or see them again in the future that that that just doesn't happen up north as much as it does down here interesting. That isn't she way so Alex. I'm so glad that you're here. I know you're doing pricing surveyor and talk a little bit about. Just what's going on in the world right now? They're so so much so many different things that we talk about. So let's just kind of getting the geopolitics domestic and foreign. What impact do you see that? It's having here in the Permian Basin alluded to early on in the conversation at time recording. Mrs Really a unique situation that we're all in out here. How do you thrive? How do you survive? And how do you live in? In sub twenty dollar even sub forty dollar oil prices out here and and what do we do with that from a supply and demand perspective? I think we've had the perfect storm as an industry with the Kobe. Nineteen dropping down some of the supply or demand needs and I still continuing to produce as much supplies what we are doing as well as the Saudis and Russians really pushing forward on some of their aspects of it too though this is one one her this is definitely a global a global supply and demand aspect that we all have to deal with and figure out what is going to be our new norm and and how we operate in a way that we can sustain just as any businesses trying to regardless of what industry. They're in where you think is is the key to sustaining. I think it's all about understanding that it's time and is needed to really take a look at what we've been doing and what we need to be doing moving forward. I don't think there's necessarily a perfect answer for that. I think it's going to be the ways of will. This is how we've done it. I think a lot of that kind of answer or that kind of situation is definitely not going to be how we do it. Moving forward and I think it's really starting to question a lot of our processes and how we operate as a business not as Baker Hughes but us in industry. And how are we going to handle this new normal? Let's talk about the normal affecting all over the United States we earn and Worldwatch. And you're all remote working now. How's that affected your teen? And Howard Davis so. It's definitely different right if you'd ask five years ago. What remote work look like oil and gas people would probably just laugh at you and say that that's never going to happen now. That being said we're taking a lot of that in stride with doing more video conferencing for example. I do monthly you review meetings with our customers on how the chemical programs are working on each individual field or asked working. And now we're starting to do more video conferencing and that's really an opportunity for us to connect but then also what we miss out on is that is that human to human interaction's either before or after those meetings but getting everyone in the same room with with a Webcam and and having some of those conversations is is something that.
"baker hughes" Discussed on Permian Perspective Podcast
"Sponsored by Baker Hughes who recently watched new and reimagined Baker Hughes brand as an energy any energy safer cleaner and more efficient for people on the planet alluring. Welcome to this week's episode of active. I'm sitting here today off in the tech join us then caster also is Alice Bruns. Who was the permian thousand commercial manager for Baker Hughes outs? He's the measure Being York. Stay Chris thanks for having me along and a half savings for my first interview. Usually I I always enjoy getting to see everyone face to face interviews and this is a i. I don't know great so I appreciate in there with the technology today on our player. Will WanNa thank everyone who has share our podcast with friends and in college all over the world and of course right here in the basin and I'm really appreciate each and every one special thanks to those who've been so kind enough to leave is star review on itunes? I want to just remind you. Please feel free to send those. I tuned review user. Nails your way to increase appreciate each and every one of you so thank you. Thank you and four to a hearing from all of you and I also afford Gary who so. I had a couple of suggestions Aso. Thanks for doing that. Let's get started Alex Bruns. Joining us out in charge of temple sales per minute and is also the commercial manager. Alex I am doing through all this. How do they all it's GonNa Right? It's definitely I kinda say the normal for us now with both. Kobe didn't unfortunately under twenty dollars oil time recording. So that's a big change from where we've been at the last few years and recounted learning how to adjust right and that's what everyone's Dannenberg talk more about that and just I I wanna get to know a little bit more than how you got started in the gas business. I appreciate that question so my start in your own. Gas Industry is from. We really unique. From what most people listening here. I grew up in Minnesota which is definitely not known for their oil and gas at all and then got a degree in chemistry and went on to graduate school for Environmental Engineering. So really the getting into the oil and gas industry itself started because I didn't want to be that laboratory technician with a degree in chemistry in really be outside and do more outdoor activities. And that's where most of my research and has been from educations perspective so I really wanted to stay in focus his time outside and I happened to stumble into a few different companies that use regroup in Michigan where I went to Grad school at and they had these banners that had folks dressed in Fars wearing hardhats in. They're all outdoor scenes and that really got my attention and adult flying at Baker Hughes and a few other companies and Baker Hughes ended up to be where I got my start at originally in the Gulf of Mexico as a few engineering drilling. So it's been pretty wild ride since that start for a lot of different positions that I've had but it's been it's been a blast everyday learning new things and learning about industry and a lot of the nuances of it and all of the terminology that I'm still trying to get my head around all the acronyms and things like that since my parents and family have not grown up in the oil and gas industry. It's a unique challenge to explain to them what I do every day. What was the most surprising Akron that they thought that one probably like Doghouse was probably the biggest one coming from drilling? I was like what are you talking about like? I want an offshore drilling right now. There's dogs out here so we're trying to really understand what that meant where to go and and some of those other catwalk in some of these other names that in all honesty one of my trainers when I was first joined the company John. Lott and bill who still with US ACRES? He would always quiz us on the first quiz that we started on was named ten animal named things that are on rig and then the next week it would be fifteen and the next week. It'd be twenty and that really stood out to me of. Oh Man alive and Mayan for a wild ride on on learning new things related to animal name so it was a good.
"baker hughes" Discussed on Permian Perspective Podcast
"You to the Tim. Tebow foundation fantastic and that concludes our edition of Permian Perspective. Special thank you to Baker Hughes for Sponsoring Permian Perspective Baker Hughes as we mentioned earlier recently launched new and reimagined Baker Hughes brand and has an energy technology company. They are striving to make energy safer cleaner and more efficient for people in the planet. And they're doing that every day right here in the Permian Basin so thanks again for joining us. Remember my mottos dream big believe in yourself and never give up you make it a great day..
"baker hughes" Discussed on Permian Perspective Podcast
"Do it safely and efficiently for our customers here in the Permian. Fantastic let's talk a little bit about a conference. You just returned from in Italy yet. Yes how exciting was that very exciting? So acre uses. We have our annual meeting in Florence Italy and this was our twenty annual meeting in. It's always in Florence Italy. And what a fantastic being you to have an annual meeting. We had over seventeen hundred customers from around the world in attendance which is just phenomenal. Yeah it's unbelievable to bring that many customers together. This really isn't a conference where it's Baker used putting on our customers are the ones who are leading the monitoring the panels and we're talking about challenges and opportunities for our industry in this year's theme. We were really focused in on that energy transition and how we're going to come together to solve those challenges for industry which digital to. That was a a big theme as well but at the same time not only do we have those panels. We actually have a solution share so all of our technology is on display many of us that get to go internally you know it would take us probably a whole year to go and tore all the different sites around. Baker used to get that knowledge. That's in our solutions fair. So all of the technology that we have coming out is on display and we actually presented on Permian in Lawrence. Yeah you think it's wild to you. Go all the way to Florence to present Permian and share across the world but our presentation was on remote drilling and how we've been able to gain efficiencies with one of our local customers here through remote drilling and so many customers asking questions while I'm glad you said that I was GONNA ask. What was the number one question that people from around the world were asking you about the perm. Yeah well and that was it. How are you doing this? How are you working with your customer? And our customer actually presented with us so the rest of the customers got to hear our customer and how we worked together to stand up the remote center for them and how we've removed seventy five percent of our people off the field location and how we've been able to gain efficiencies and how we've been able to reduce in bt and they're all sitting together in a remote center so we're bringing their team members are team members and we're sitting off location and were drilling better wheels than we've ever drilled before and a lot of the customers wanted to know. How did we get there? What was the transition and we broke it down into phases and they really really learned from. Okay I can take this and I can implement it in my operation. I Bet I mean that is just incredible for them to hear that firsthand from you from your customer and seeing the fish. Nc because seventy five percent. You said you've taken us off location. That's a huge. When you think of the number wise you'd have some usually here. Ten percent fifteen percent bright seventy five percent. What has been the customer benefit that you've seen from that. So the standardization has been he but obviously safety right. I mean I think that's number. One is were removing people off. Location out of harm's way but the second benefit is the standardization between all of the rigs. That were that were operating. We're able to share lessons. Learned across the RIGS EASILY. Because we're all housed in that same remote center and in collaboration so when we see something going on were right there together and we can figure out. How do we mitigate? How do we overcome the challenge? And then we share that with the POD next door because they set up in pods for the different rigs and then we can have one directional driller looking over multiple rigs not just one rig and so again he can optimize across those rigs as well so one would think you're taking someone off location. How is that going to to work? But what we've seen is surprisingly better performance because we're able to collaborate and standardize across and really using technology to your benefit absolutely. Let's talk a little bit about technology because of there have been so many different cycles in this new energy cycle of course brings more technology and better ways to do things how has this been at the forefront of your transformation at Baker Hughes Aso. I mean obviously. We recently announced that. We're an energy technology company. Which is you catch yourself going when folks ask you about Baker US many of service providers say Oh were oil and gas company. What's really exciting about Baker? Using in our path forward is that were an energy technology company. We are helping our customers solve some of the greatest challenges as we move through this energy transition reduce the carbon footprint in our impact on the environment. And you know I feel like we have that technology in our portfolio. Not just again when we talked about earlier. The wall construction piece in the production piece. But we bring that expertise to utilize the natural gas and other ways and also measure methane. Yeah we have the sensors in the technology through our Avi toss our drones to measure methane emissions. Help our customers figure out where they're leaks are and how to solve those issues so again. It's just having all of that in our portfolio. Not just the wall construction and production. Is I think going to be really key for us as we move forward wonderful you mentioned challenges because I whenever group of people come together we always try to learn from each other right and you mentioned that in Italy. You talked about challenges. What are some of those challenges that you see moving forward in twenty twenty that we could all help each other out with and help overcome those challenges because I think as a business leader as a business owner? We want overcome the challenges that what do you see? Yes I think for the Permian in particular. One of the biggest challenges we're going to have to overcome is the fact of all the gas that were flaring and I. I covered that last year in podcasts. So they get the last number. I looked at was seven hundred. Mcs Per Day that we're flaring people who are not familiar with our industry when they see that or they're flying into the permanent night there's a very negative perception about our industry and to be honest with you. That's waste you know. But in some cases it's it's more efficient for our operators to flare than to use it and so we WANNA be that solution provider in collaborating with our customers to see. How can we take that and use it whether it's for a FRAC as which we talked about last year or is it for actual power and selling back to the grid and when we look at the Permian infrastructure for power there are large gaps in the grid and we can solve those gaps in the grid through utilizing natural? Gas into our turbines improvised infield power for our customers so me I really do. Think the Permian 's biggest challenges the fact that we've got to change that perception that we can show that we are reducing our carbon impact environment and that we are bringing energy to the world you know in a safe efficient manner that's environmental friendly you know and we all need energy right not to solar and wind because those will not tell the gap spoil gases a critical component of how we move forward and providing energy to the world. And I think when you're outside of the oil gas world you just don't realize how much energy use every day. I can't remember which podcast it was interviewing. Someone in they pointed out exactly everything in this room what comes off of energy and I just thought you know when you're not in oil and gas directly say you know when you're growing up you just don't think that way but the older you get the more you learn and the more that you're here's especially in the Permian if you're new to the area you realize just how much the world needs it and to be able to provide that energy to the world. It truly is remarkable. When you think about it is and that's something I feel like we're going to focus on this year for our employee base is to. How can we efficiently used energy? We feel like if it's not a habit at home then it will not be a habit at work now. We do have a lot of that technology already within our facilities of the automatic lights. You know the motion detection lives but again that's not everywhere right so we're really going to campaign and roll out. Term employee base be efficient at home be efficient at work conserve as as best as possible. Sore not impacting the environment and the second pieces. The recycling right recycling difficult to do here midlan and very difficult. It's a challenge if you don't make the effort that's right so simple things like we don't have the recycling pickup at our facilities. But what we're GONNA do in. Some of our offices is volunteer a rotation to take those recycles to the recycle center so in everybody raised their hand. When we came up with that idea. Oh count me in. I'm going to go on that rotation so nice you know. It may be a challenge for us to get some of the things done here to make those changes where were thinking about our environment. But you'd be surprised at how passionate our employee basis to step in and say you know what maybe we don't have that ability to have someone come and pick up. Are you know plastics right? But you know what we sorted out. I will volunteer to take it. So that's how we're going to solve and overcome. But maybe one day. We'll actually have a recycled pickup here. Midland we'll hope. Let's keep pushing for it. We can do it. And you'll kids are so good you know if you get kids going on something so encouraging them at a young age was going to ask you there any other tips that you can do as a family at home you mentioned of course if we go and recycle and drop off the light switch is is there anything else that we can do in our daily lives and get the kids involved because like I said they can be our biggest reminders champions because sometimes if I forget something I'll tell my youngest remind me of that. Yes they're on it. They'll remember in when they know something's important like this. They will encourage the family to do so. Yeah I'm seeing that lease with my children and the younger generation. They are very passionate about the environment they are in so they are kind of that gatekeeper as well recently. Just plastic bottles. How many water bottles do we go through in one of my son said? Why don't we have more water bottles? That are reasonable. And that's what I want to put my y water and but the second piece is also we adopted area here keep Midland beautiful and so getting my boys out there to help with cleanups I think is really important. And what's fun to watch as we go do that? But then they go out and clean up around Lee high school on their own right without being asked and they said well you know we're going to go and we're going to clean up Because this is unacceptable to me. That's just wonderful to see when the kids start caring about the environment as much as we all. Should you know when they started young age? It's just going to get better and better. And as they grow up and it's leading by example right they see me turning off the lights. They see me being conscious of our water usage. Because we know water here in the Permian you know it's not the greatest quality right and so we need to make sure we're conscious of that as well so we all do our part. Yes that's right absolutely. Let's talk a little bit about the ups and downs of the oil and gas businesses. We know we've seen some. Pretty fluctuating lately dislike today? We're below fifty dollars a barrel and so how as a company leader. How do you talk to your employees about that? And how do you? You know not get too worried. I guess I should say when you see the fluctuating price. Yeah I mean I think for us. It's been interesting over the last year to see that. A lot of activity that were seeing whether it's up or down is not based on commodity prices and it's really about our customers.
"baker hughes" Discussed on Permian Perspective Podcast
"I am sitting here today in Midland Texas with my friend Jimmy Butler the VP of Permian for Baker Hughes. Thanks so much for being with US Jamie. I Chris Great to be here. I'm so excited to talk all the fun and exciting changes at Baker and everything that's going on and you just recently had an an exciting trip Italy but before we get into our interview. I WanNa thank everyone who has shared our podcast with friends and colleagues. We truly have listeners. All over the world even in low France so thank you so much for listening. I really appreciate each and every one of you. I also would like to ask everyone to help our show out by taking a few minutes and leaving a review on itunes. I cannot thank you enough for doing this. We just recently had this fantastic review. They said Christopher's interview style brings out the best in her guests. Listeners brought into a conversation in which guests are allowed to be open about issues important to them professionally and personally krista interviews highlight the dichotomy between the hard scrabble oil business and the generous civically engaged attitude of the people who live in the Permian Basin. Wow thank you so much for those kind words. They didn't leave their names. O You know who you are. Whoever you are thank you so much I really appreciate you. Jamie thanks again for joining us. And congratulations on being nominated one of heart energies twenty-five influential women in energy for twenty twenty. How exciting was that when you found out. Oh just unbelievable. Almost had to pinch myself just wonderful nomination in recognition and even the class of women the other twenty four women in this twenty twenty s class so amazing talented and then even if you look at its third year so this is three years in the making. This has been going on and I looked at last year's twenty five in the year before that and it's just exciting to be in such a class in caliber of these amazing women of really truly. What an honor in that group and well-deserved. I have to say as well. I know that we visited before. But we WANNA get kind of. Everyone caught up with. Maybe they haven't listened to any of our previous podcast but tells a little bit about how you got an oil and gas and how you got here to the Permian all right so it's nineteen years. Though unbelievable. Last time we talked was eighteen years right so I've been in the Permian for about a year and a half now. Anna been with Baker used for nineteen years and nineteen years ago honestly. I just needed a job. So if you hear some of my podcast and speeches for her engagements that's really my story. I just needed a job right and I actually had not graduated from college yet and I was looking and Baker. Us hired me. I mean that is what you know going back in that time. Yeah you looked in the newspaper. It'll be. How did you find out that Baker Hughes was was hiring? Yeah I ran into. Actually my brother was coaching baseball. He was coaching tournament. Baseball and I ran into a leader Baker us and he asked me what I did and I said I was going to college and I was running a book warehouse Solo by myself while going to school and he said well have you thought about doing something different for your work and Baker. Use can help you finish out your degree so out. Yeah absolutely so actually interviewed for the first job. I didn't get it. And then that manager pass my resume onto another manager and said I think she'd be better fit for a role you have. I interviewed for that position. And yeah the rest is history so it was actually an administrative role so I started out at. I guess the bottom grade levels what we call them at Baker US and finished my degree and then I went into finance and then I went into marketing and then I went technology and then I went into supply chain and I finished my masters in supply chain management at Penn state going back and fourteen oversee park over a course of two years and then I went into manufacturing then I went to do field operations and then commercials so it was used doesn't at all crazy nineteen years and so a year and a half ago. I was in what we call our global accounts organization handling three of our largest accounts for Baker US across all product lines and an opportunity came to move to Midland Texas and leader Permian businesses. And I said yes absolutely why not. I mean this is the epicenter of oil and Gas. Right and I love your story. Because I've learned so many things just from hearing you just recap it even that first of all. If I don't succeed try try again right. Didn't get that I. I love for young women to hear that. Because sometimes you get that no one you think okay then this decision for me but you persevered and you were persistent and you kept going and then all these yeses then eventually led you to this. Vp position which is just incredible. Yeah it's amazing definitely when the bus pulls up you know. Don't turn it down so definitely get on the bus but at the same time if the bus doors shut you know. Think about what's that next bus that could pull up in. How can I overcome those challenges? And what can I learn and make myself better so I just think it's limitless possibilities and you just have to look at everything happens for a reason and you know when you fail or you make a mistake? How can you learn from it? And how can you move forward and turn that into an opportunity? Love that new definitely done that and then some let's talk a little bit about this one hundred th anniversary of the Permian which is a huge milestone an incredible to think of can you share what Baker is focusing on in the permian. Now yeah absolutely so we know that the Permian one hundred anniversary is a huge milestone for us. It's really exciting. To look back at the well that put us on the map in Nineteen twenty-three which was Santa Rita It produced for over seven decades. Which to me is like wow. That's amazing that a welcome produced that long but like the Permian Baker US also has over one hundred years of experience so I feel like that's what we bring to the table our legacy and our drive for innovation to the energy industry. You know obviously we bring all of that in a safe manner right. We protect our people the people island location in the environment. But at the same time I feel like a we can bring that expertise and knowledge to the well. Construction side in the production support side to support our customers to draw. Incomplete wells more efficiently. They can flow that I drew car- much sooner and they can also produce it longer and then the.
GE stock has worst day in 11 years after Madoff whistleblower calls it a bigger fraud than Enron
"Shares in G. E. down more than eleven percent in New York trading that's the most in eleven years now it was precipitated when Harry Markopoulos he is the Bernie made off whistle blower well he accused G. E. of accounting fraud the claim alleges the company was hiding the depths of its financial problems and would need to significantly raise insurance reserves Bloomberg's Kathleen channel in ski explains at least on the insurance side it could be twenty nine billion dollars that's made an eighteen point five Joseph you reconcile it to some of its peers like potential financial another ten point five billion non cash charge if you think about these new insurance accounting standards that are set to come together in a couple of years he also pointed out the company's investment in Baker Hughes and says that there's some issues there either way you added up its size on the other side of the equation we had G. E. C. E. O. and chairman Larry call calling today's claims
"baker hughes" Discussed on Permian Perspective Podcast
"Just challenged challenged status cool. Speaking of challenges have been some of the biggest challenges that you have seen in your career so far that have gotten to where you are today. Honestly I think it'd been very fortunate of worked with a low of amazing people amazing managers and then you also get the you know not so good people work with but I think it's all learning and now as a you know relatively young manager Enuma position I often think backs to those time swin somebody's dealt with the situation really well and if admired them and and another time when a flow I would not handle a situation like that and I try and think about that law and it helps me keeps me you know on the right path normally and there's times I've done things I think maybe shouldn't have done that or I could do that. Baronets time so the biggest challenges is just you know taken in your stride and I think I've learned to take advice and criticism definitely used to bother mail when I first starts and industry and it does all of us inning so healthy and is your rent. Sometimes people will be wrong and there and it's it's not right but take on board. Thank you and there's often conversations or you know heated. Conversations may be or just long conversations I've had when I was training offshore with supervisors or in the workshop workshop and I learned so much from those people specifically no I think back and think that was some of the best advice ever got so not challenges as such but I look back now and think more fondly of them than German factual moment itself right hi good good learning learning times in your life so tell me what do you do with your team because you've been there and you're dealing now with these young people that are just fresh eager and ready to go tackle the world. How do you motivate them? What is your advice is to them? When when you're first getting your feet in the door absolutely honestly I'm very thankful that the new graduates are sold eager in keen to do things definitely helps when you're you know just starting in your career as a low of hard work and it should be honestly you need to learn from climbed up and and that the workshop time does free and building till's and I think quite often the perception is that you know engineers or people don't want to get their hands dirty and I would say that's not true for the majority of my is they're? They're the great <hes> and they want to learn and they want to be hands on so encouragement is normally get stuck in and learn as much as you can ask as many questions. It doesn't matter have stupid. You may think they are asked them. Because if you don't you won't learn and if you don't make mistakes then you learn from them so just go there and get stuck in really an that typically helps but there's times you know it's hard and this industries hard industry and fast paced and it's very hot here and people wanted the field so trying to give them balance and gave them through tough situations but we work with amazing people and I have to thank over people heard an operations and who are in the workshops assembly maintenance and overhaul that gate them because I don't. Get to spend every minute of my deal with each of them to do those things and they're certainly people in the company that have a lot more experience than those eighty so I do rely heavily on the team around me to help motivate them and get them involved in things fantastic you mentioned it's taught here. Yes West Texas is hot if you're living on the other side of the world listening to us. What do you think makes the Permian so great? Honestly I was talking to colleague wrote this earlier and I do really think that the people here have been wonderful and have made my time you know get getting acclimated here a lot easier and I mean outside of work of some fantastic you know friends for life sort people but in terms of career and personal growth there is there's so much for your career here and I think young professionals who are in oil and gas and who are potentially getting opportunity to come to the Permian should a hundred percent teak that opportunity. This is where it's happening in that we hear law people's perception. Oh we're not gonna like the aired or I don't WanNa move. There and I think that's really sad because they're messing. Honestly I would not have had opportunities I have had had been for me stain in Aberdeen. You know if I if I hadn't come here I wouldn't have had those opportunities and and I'm forever thankful. When I think back to win the offered me that possession to come to the Permian at a time? The director and Aberdeen didn't want me to move but he'd said to me all you know there's somebody in the primary in and they're they're looking. Can you and they really want to offer you a job to out there and I said one hundred percent I'm going to do it. Everybody was like why why are you WanNa do it and I was like well. Aberdeen is not picking up it still slow. I'm not going to learn anything state. I mean I'm going to continue to grow not other piece one ton. I'm ready for change and and then I remember speaking to the gentleman over here the today at the time about coming to the Permian and he was you know he was sailing. He was like it sunny. You know all of style work and implied by and I was like I have visited here before he was like Oh police. They'll take the job because I think people come in the days are the you know automatically think. It's not going to be a good place in one hundred percent is but Amazon you absolutely but the career ear opportunities and development are here <hes> and I would strongly advise people who are getting opportunity or who feel like they need something else and want to expedience. This is the place to be couldn't agree more. I can agree more. Let's talk about where we're everyone. Sees the Permian going and I know that we all wish we could just kind of go. Oh yeah this is GonNa you know oil's going to skyrocket to this and that and throw these numbers out. Where do you see it? And how does that play a role in your business. Honestly I feel that I I mean the oil and gas industries basically call and say comes up and it's GonNa come down and things but we're we're currently at. I think you know B._H._D.'s accompany. Our businesses based on more customers are doing as well so we do pivot a law and I and my department touches you know the drill in rake the wireline units the coil units work over unit so very fortunate in that sense that completions in well intervention plays a part and all of that and there's Times that you know we're busier on the call unit site fight for WORKOVER ANGELINA FRAC plugs and in clean versus you know drilling a hell gelling ahead on drilling rig and complete in the well with lighter hangers and things so I've seen shifts over the last two years but we are still growing which is great so I see her I._C._S.. Continuing to to be busy and working over the next couple of years whether that means our operators you know drop a little bit and Rick Cone bought maybe do more in the work oversight and trying to enhance production on some of the walls they've lost production over the years again. It depends we'll each student and there's some that were killing ahead especially last year and had a lot more wells completions setting as doc so they're basically waiting to complete them but that is pipeline constraints and I will not pretend an expert and they and I've certainly have a lot of educating myself to do on that but I am not concerned. That Permian is going to go away anytime soon. Honestly I'm with you. It's not going. We're here to stay. Let's talk a little bit about some business tools that have helped you and your life. Do you have any in particular that you would say really have helped you get to where you are today. So in terms of business tools honestly at Baker Hughes is being my biggest business till I start with them and I'm still with them to the stay on networking has been one of the you know the baked things for me within the company <hes> I've met people from all over the what else that helped me transition when out the opportunity to move internationally as well as communicate internally with different product lines different departments to learn things and improve things within my department so if that kind of answer your question I would say network in a huge thing avenue. That's a great tool and it's it's not just by the happy errors and the socializing. It's you know having that conversation with somebody in work. That does something that you don't know anything about because there's so many times I've had a brief conversation with somebody and and then months later I thought I wonder if that person will know why need or who need to speak to and they have right and that is helped me the best you the most actually been resourceful and reach out and am not free to ask people you may be don't know and and get to know them and and whatnot so maybe not much business tool but one of my business tools if that if that can answer questions I love that one and that one's free networking you just go talk to people and get to know them and build those relationships. I think that is a key in any business. I may cost you a coffee once that's about it. What about podcasts or books? Do you have any favorites that you listen to so and people who know me and may lesson to this after we'll laugh if talking about my big club because I am a repeat offender under for reading the Book Club and there forever forgiven me and letting me attend which I'm always thankful for but something we've started recently with Jimmy Butler and and the team is kind of pass more professional books and I would say ah there's no one that's really sticking out to me just yet but I'm Kinda just getting my feet wet there and reading and my advice would be do read a lot and encourage you to read about the business and where it's going and podcast like this for you know your local local eighty a- and there's a lot of names on there and people that you can learn something from so one hundred percent try and you know brancheau and and find things and there's always the you know the top ten bestsellers and things but most of the books I've heard about as of late is being with work so we've ministered this internal bit club and Jamie's the best of that she has so many wonderful books he reads and I love here and what she's reading. You know what your team is reading. She passed some good good ones and I ended up picking. Stop apologizing which makes me laugh so I I'm halfway through and so far so good. That's a good one. That's fantastic. What about your path? Where do you see yourself ten years from now? What is your goal in and the oil and gas business? I I'm on a great pass just now am I feel that you are you're doing great personally and professionally being very fortunate of how to work hard and there's definitely a lot more work to be done and six years in I think when I can retire and it's along so you're very young hope it continues in the direction as being and I've been very fortunate to hold several different positions with the company and there's a lot to be said about you know sticking with some something. Something for a period of time to really grasp it and mastered it because quite often and a large company when your progress and you know your potential you'll you'll maybe move position sometimes a little bit quicker than you would have liked and you can the just just master and you're trying to hone your skills and perfect them so like I just got that down now. Come on now I will say I'm definitely I've been open to a lot of change and and opportunities like the primary when they come up on. I and I certainly am open to travel with the company globally and you know progress up in the by clear so I hope these keep coming on l.. Certainly be lots of yeses for me but it has to make center has to make make sense professionally and personally and this position to calm was an opportunity to manage a team get closer to operations again which was where my heart was honestly and a really missed it. When I was in my social oval that was amazing? expedients audience commercial <unk> expedients unagreed introduction to the Party and and I see myself you know going back into that kind of role later my career but yeah definitely like what I'm doing currently and excited to see how mateen grew over the next year and how they progress progress because they're the pipeline in the future so fantastic. Do you have favorite quote that you live by. Oh my goodness. You knew I was Gonna ask that right. I'm laughing again my colleague I keep referring to she'll laugh when she she listens to this cushy does listen to all your all of the podcast and love hearing that and thank you for listening and we normally have a cool off our team meetings which is so funny like we Google every call and we call them off so I'm trying to think of my favorite one talent is nothing without hard..
"baker hughes" Discussed on Permian Perspective Podcast
"Oil producing regions the area in West Texas in southeastern New Mexico could nearly double crude oil production and by the year twenty twenty three but who are the leaders behind this economic powerhouse and what is their story. This is permian perspective. I'm your host Christa. A skinny today show sponsored by Baker Hughes a G._e.. Company inventing smarter ways to bring energy to the world. Hello everyone welcome to this. Week's episode is a pleasure to be spending time with you on this beautiful West Texas Day. I'm sitting here in my office inside a rig I._D.. Work where with Kaley Kennedy Kaley is the engineering manager at Baker Hughes for the completions and well bore intervention. Thank you so much for being with us. Thank you so much for having me here today. Kaley it is such a pleasure to spend this time with you and before we get started started. I know we have so much to talk about. I I want to ask everyone to help our show our new show. We want to ask everyone to take a few minutes to leave a review on itunes. We are so appreciative of the reviews we've received so far and for Apple Choosing Choosing Permian perspective to be on their new in noteworthy list. Thank you thank you thank you. I have a special thanks to one of our listeners for this awesome five star review this is what he or she had to say a great new podcast that focuses on the people all that are behind and making possible the incredible developments in oil and gas in the basin. Thank you so much C._W.. Fourteen ten that's why I didn't know if there was a here sheet C._W.. Whoever you are thank you thank you? Thank you for that great review you all right Kaley. Kennedy is with us today Kaley. Thank you so much for spending this time with us first of all tell us just a little bit about yourself. Thanks again for Heaven Mattress so as you introduced me. My name is Kelly and I am the accent might be a little bit funny Free Alta here so I was just saying the good thing about podcast is that you could pause and you can rewind if you can't understand me. I love the accent I love it. Where are you from? I'm originally from Scotland while I see that I grew up they are but I was born the state so it was born in South Dakota. My Dad is actually from Georgia. My Mum's from New Zealand so moloto bit of a fake scorched person I grew up there from the age of four so it's home to me really so I started with Baker Hughes after finishing university and Ibra a the city that Haiti and I studied chemistry and then I joined oil and gas industry ryo of skill when Baker Hughes to me on one of their graduate engineers on I worked in the North Sea for about three and a half years before opportunity came up for the pardon me and so I moved to Midland Texas Alexis about two years ago well thank you and have loved every second of it so when you were going to school. Did you know that you were going to go into oil and gas or was there something that you were studying chemistry that you just thought okay. This is what I want to do. Those a great question and honestly no I did not I grew up in small time called Glenn Author Switches but forty five minutes from Edinburgh and editors the capital of Scotland and it's not oil and gas capital Aberdeen `as so a little bit shelter they would say from oil and gas industry three and I didn't know much about joined as a chemist and I was actually working towards research so I did my undergraduate in my masters and Chemistry and during that time I'd spend a couple of summers doing research so for the University University itself off and I was actually going to see on into my p._H._d.. Bought around my master's year the chemistry schools actually part of the engineering school at the university that went through so a lot my friends were applying for these oil and gas jobs and at the time my Stepdad just recently gently taken on a job up in Aberdeen so kind of my first expedients and introduction to the oilfield and the University of went to try to keep the Kenna careers I separate so one day I snuck into engineering careers fair on start to meet with some oil and gas companies unease and was fortunate enough to meet lady at the Baker Hughes stand who had actually been a chemist as well the same university is meant to be made to be on she had left. Maybe two or three years prior but I'd spent some time studying with our she was one of the senior students cheating and things and it took a chance and I applied and was fortunate and angled tee on over university so I had no idea what was getting myself into honestly but I've never looked by what was it that hooked you about oil and gas and and of course such a great company to work with Baker Hughes. What was it that you said Oh this is? This is what I want to do. So at the time I've mentioned I was doing research so I was in the lab a lot and I'm quite an outgoing person and I felt like I was in a position that required me to spent hours on end myself talking to myself saying to myself and just working reactions and honestly at the time I was working for a Doctor University and I start to see academic can be quite academic. People who've spent time in academics will understand what I mean in the sense that we don't have much industry expedience which is especially true in scientists really so. I just felt like I was going to not myself. Maybe go back to education later in my career but honestly wanted to you just epoch said my comfort zone and Baker Hughes offers this graduate program takes on physical scientists geologists geography majors as well as you know engineers and they take them and train them up and it was a chance for me really just to try something completely different and and see good math was from university and Antique on an engineer enroll so I really was looking for the challenge and a couple of service companies time had expressed or maybe you should go back into your masters in engineering and it kind of pick me away and Baker Hughes was one that absolutely did not do that and challenge accepted so that I took on and you've been very good to me antastic so you've been here two years. How is the Permian different from the U._K.? Hey very different so the U._S.. Generals I mean we're vehicles the U._K.. In the U._S. but culturally different <hes> especially in West Texas bar as been wonderful wonderful experience life expedients expedients just all round and then in terms of working environment. I joined Baker and twenty thirteen and the North Sea was booming oil filters booming. I remember my first week there. It was offshore unit which is a huge of a week long <unk> event in Aberdeen and every hotel was bookstore every airbnb every B._N._b.. And the hotel prices were what you see in the in the right so it was like crazy time and a lot of time offshore and and just busy working in vitamin but that means said the offshore market is very well planned for long-term projects so my experience with Baker and with oilfield when I moved here it was very different. I was used to have in time to plan things and think ahead and logistically it's Salat deferent. You've got larger challenges the equipment you send to location needs to go on bolts and ships and things and it digs time to get to a wreck site and also the money involved in it says says much career so people spend that time I mean we were working on projects in twenty thirteen didn't come to fruition until twenty fifteen so long time and then I moved to the Permian and bear to mind when I started with Baker started with one small division vision you get tunnel vision and focus on that and the oilfields very very big business moved to the Permian and to call and all of completion in well intervention which is a lot of sub product lanes and a lot of tools and equipment services and the piece was. was like something I never seen before Alston say it felt like I had whitelash arrived here and I was like okay you needed equipment and you needed it yesterday. We need to be on location now when I was very interesting just completely different and that's a great point to to bring up when when when you're in the permeates seems like everybody needed everything yesterday yesterday so tell explain what you do in your job day to day that you know maybe if you could just tell us a little bit about the inside of what you do so mentioned joined the graduate program for Baker Hughes on that like I said takes their graduate engineers or scientists whoever it may be backgrounds and that eighty three you're structured program and it's called lead or now aspire on its for field engineer so very structured hurt and the look point of the program is to get technically sound engineer so the star in the workshop building tools from the ground up learning hardly go together all the internal workings and then they take that to the field and the field they learned how to run the tools so there at the website and then from there the support and office and their troubleshooting any problem jobs they are helping plan jobs and the exposure to commercial so sales roles and ideas kind of fasttrack upper management or that they always tell you so finishing that program you know to dabble in quite a few things within the company and coming here actually moved on `social that two thousand for about a year and then at the time we're still you know the premiums build enough and picking up very quickly clean and our engineering team you know seen a lot of turnover and we needed to higher up so I took on the role as Permian Engineering Manager for the C._W.. I group which is completions and while we're intervention and have been building the team and why do is I manage a bunch of a graduate engineers so the majority of my team is actually graduate level engineers just coming out of college keys. Were you were six years ago right around that exactly vaguely keen eager to go there and then have also got more senior engineers people who've been through the program who've held multiple roles within the company and now our applications level engineers so we support operations they are customer which attorneys were all of the customers in the Permian our our customer so I that was a tongue tied so everything from you've had a problem on the jailing rag and you need to fish conventional fish and we do that right through to enhanced oil recovery intelligent production systems wellborn construction and so and so forth so the team managed cover a very broad range of product lines with incompletions Oman Venture on a day-to-day basis there either in the workshop building tools that in the field running jobs there modeling for prejudge the job modeling on their trouble Shang and meet with customers so a lot of things we are many hats it sounds like it fantastic and I love that you've worked their way up with Baker and it seems like when I do speak too many that do work for Baker Hughes they they. I do love to hire within and remote and keep keep you there. They know when they've got a good one like you. Thank you tell me what advice would you give too young lady that maybe as considering going into engineering or chemistry like your background and going to the oil and gas business. What advice would you give to them about the business? I absolutely I think to start like with a science major so just a chemist in general if oil and gas is something that you're passionate by or you even have an interest can reach. I ask questions sneak into engineering clears fares wherever it made me because a lot of your core classes are the same really the math the thermodynamics all of these classes that you take as an engineer you take a chemist so I would definitely encourage people to <hes> to think outside of the box of research potentially and and get your feet way and get into industry because that's your life experience. I feel it's your feel like to me. It was my real job leaving university and join an oilfield filled slap advice to scientists who don't know how to break into industry. There's place for everybody that then she'd like. I said it's very large you've researched within oil and gas. You have chemical labs you have you know geologist positions an across the board so there's there's room for everybody and then in terms of you know potentially like young females Baker really sponsors a law of stem and I think that's that's awesome an excellent and it's really for everybody is to encourage people to you. Don't get into science technology engineering mathematics and should be a focus for everybody really a my advice would just be don't be afraid to take a challenge in even when people say oh you know you can't do that or you haven't done it..
"baker hughes" Discussed on Permian Perspective Podcast
"Producing regions, the area in west Texas and southeastern New Mexico could nearly double crude oil production by the year, twenty twenty three but who are the leaders behind this economic powerhouse? And what is their story? This is Permian perspective. I'm your host Krista as skinny. Sponsored by Baker Hughes. A GE company, inventing smarter ways to bring energy to the world. Hell over one. Thank you so much for joining us for this week's episode. I'm so thankful that you're sharing this time with us. I am here in Midland, Texas with Philip bales. He is with Baker Hughes and Philip is the sales manager for completions and well bore intervention. Thank you so much for being with us Philip. Thank you for having me. How's your day going so far going, great awesome? Well before we start our interview. I just wanna thank everyone for your reviews. I've been asking the past couple of weeks for you to give us a five star review because as our favorite, so I cannot thank you enough for doing so we really appreciate the reviews and were thankful to apple for choosing Permian perspective to be on their new and noteworthy list that was pretty exciting when we found that out. So thank you so much. And I wanna think this listener who gave us this five star review. It was regarding the Clint Walker interview and. And he said, this was an awesome interview I started working for big read a few months ago and learning all that I can currently thank you. Clint Walker for the inspiring words. And thank you Aminov. No five for that review. We really appreciate you and feel free to jump on any time. Leave says reviews and we may announce it in a future broadcast. So Philip, you're here with us today with Baker Hughes. I know Baker has been part of your history. But we wanna see how you got to where you are today. Tell us how you got started in the oil and gas industry. Tell you what that's kind of a long story. So I'll try to be as quick as I can. I was a county extension agent, which works for the university system and just completed my MBA. And, and I got to know a guy that was in oilfield, and we were sitting in Breckenridge, Texas. And he asked me to come interview with his boss for a position in Oldfield. I didn't know anything about the oilfield. Tell you the truth. I grew up in a small town and was in agricultural of. Things. And so my interview with him went really well. And he actually offered me a job in Midland, Texas, making twelve dollars an hour as a spoiler on a on a small ESP company, and so me and my wife retake leap of faith, and take him up on his offer, and it was about fourteen years ago on Good Friday that was kind of anniversary of it. So happy anniversary. You Afri said, well, and from there, you started, just, just like most people you start at the bottom, right? Yes. Ma'am. Work, your way up. What did you think at first when you first got in the business a little bit different from agriculture? What did what did you think? Right off the bat of the work was actually very similar starting out at the bottom. It's just a lot of mechanical being out in the field. You know, doing things like driving to location, doing certain tasks that gonna get you everyday, and get your hands dirty but overall, I would say it was a great experience. Coming from agriculture trains. Really well. And I will tell you funny story my first two week paycheck was more than my one month paycheck for the annual university system, which my wife couldn't couldn't believe it. She thought they had made a mistake on it. But it was it was actually all the overtime, I was working. Right. She said, felt you need to go double check that mixture. That's right. It's the actually. Yes, she actually did the that. That's great. And, and that's the thing. A lot of people did start off with, with the opportunity here in the basin. Then took that and grew with, you know with that experience. Where was your next stop along the way? So after a kinda work my way up through the organization got into sales outside sales, which have really enjoyed really felt like I was doing decent job. Baker Hughes, actually started recruiting me, after a short period of time with the small ESP company, and went to work for Baker Hughes as a sales person in an again in, in that organization. There is all kinds of opportu. Unity's at just came. You know, came up from people getting promoted and moving out of the Permian basin. People moving in, I can tell you, you know how appreciative I was to Baker for all those opportunities that came along. And it really put me in a good position over the last few years of my career so it's been great. What is it? You enjoy about sales. I think it's just the interaction with people and it's the face to face, conversations, dead manner fits, you know, good or bad. Whether you're trying to sell them something or you're talking about a problem job or concessions anything like that. I think it's a great opportunity getting front of people and just have that faced face interaction. And again, it's, it's kinda competitive for me. I'm I'm kind of a competitive Amisi gone. Guy think most people would tell you pretty easy going into you. Get me on, like a basketball court or something like that. And then it kinda changes my attitude, low bit. I wanna go win. Right. So the competitive Jesus. From sports carryover into the sales. Just an aspect of your house. Yes. And I think that being here in the basin there, there is so much opportunity to sail into grow into to get better day by day. What have you learned through that experience that has really helped you get to this title that you have right now? So being competitive person, you know, the things I've learned is you gotta take everything in stride. The good the bad, the ugly take it all in stride. Learn from it. See how you can get better. And just like, you know, you're playing football or basketball. When you have, you know, a play that doesn't go as well. You learn from it. You don't run that play again. Use walk over to another strategy and go with that one. So it's always changing the things that, that doesn't work change to something else in its at constant feedback from the customer from your internal organization. Speaking of your internal organization you were with Baker than the Halliburton. Elise. Yes, ma'am, then came you're now back with Baker. What is the five year outlook for Baker Hughes? I know I know there's always a lot of strategy that goes into planning for your business data day. What is the five year outlook that you are all seeing in talking about? I think when you comes to Baker Hughes overall, there's been a lot of things that's happened to us over the last two or three years. But looking forward as GE is already told us, they're going to sell off. You know, the majority stike stakeholder position within Baker Hughes. I think the outlook for the five year, you know, looking at it from a business perspective with new products, new technology, they were rolling out new investments in Oran. Be tough things infrastructure that we're putting in place here in Permian basin. Especially here in Permian as this is the biggest segment of the, the US land. I think we're really trying to position ourselves in this organization. In the Permian basin to, to be one of the best execution type companies in the Permian basin. And I know you're doing a great job of getting out in the community. We see a lot of Baker Hughes unit throughout how, how important is community involvement to you, as a company. Yeah. I would say, you know, for us as a company, it's one thing that we haven't done very well in the past, but I'm really proud of our company over the last year, maybe year and a half. We've put a lot of funds in place to really bridge that gap that we've had all these years and invest in the community in, I'll tell you, Jimmy Butler are vast president. She's done a very good job of soliciting are upper management for those funds, and making sure that we get the ability to, to really go out and partner with some of our local organizations, such as the rock hounds in the school system. We've done what I believe is a really good job of getting back into the community. Absolutely. Definitely. What do you think makes the Permian so great? You've been here, fourteen years now, someone that may be on the other side of the world has never been here. What, what do you think is? The one thing that stands out that makes us so awesome here in the basin. You really think it's the people we've, we've got a good mix of people that have been here for a long time. Like myself have been here for ten years. If you look at the organization that I'm over. We've got a good mix of people from Louisiana from Pennsylvania, and is just a group that comes in, and we make sure we have one focus going forward. And that's to build the company and built a brand we do really good job of, of mixing, everybody. Together, we have team building avent's to make sure everybody's cohesive. And we all March to the same same drone that's wonderful. What about challenges? I know every organization, we always see, you know, there's some challenges for growth because we are definitely a growing community. What do you think some of the biggest challenges are for growth report of the challenge that us see is kind of go along with what makes the Permian so great is also a challenge, because those people that are coming in from outside the area eventually they want to go back to whatever home. They were coming from. So keeping those people here in the Permian basin retaining those folks is has been a challenge and a part of the things that we just talked about about investing in the end for structure, and would what we've really taken a step forward in over the last eighteen months as really been a big piece to try to keep those folks here in the Permian basin. And here's our pitch for everyone to stay here. It's a great place. I've been here, twenty one years, you've been here fourteen. There are some magical things that happen here, and I think we always say the people number one, but. Also just a great place to raise a family. I know you have two kids and for the family, what would you say to someone that maybe as considering moving their family here you've been raising yours here? What would you say? Their take is on it living in the Permian basin for, for us in our family, when we moved in from breaking ridge, whips, which is, is still in the state of Texas and, and it's green grass and a lot of water. You know, those type things east Texas east. I figure when you said there's a lot of. Movin moving over here. It's really, I think it comes down to you make what you what you want to, if you wanna come here, and be miserable, you can or if you wanna come here, get plugged into the church to the community and go see the sides. You know, find some France, develop those friends, there's a lot of things to do here, like you said raising a family here. I don't know if there's any better place to raise a family. We moved out to Greenwood for the school district, and the kids that Mike kids have just excel A-Rated in learning, and their achievements at Greenwood and I couldn't ask for a better school system. It's been really good out there. It really is. It's a little hidden gem, it is it really is. Yes, my tastic. Let's talk a little bit about diversity and inclusion within Baker Hughes. I know that is very important to your company. How do you see that? How that is changed evolved. Over the years, the diversity, and inclusion perspective for me is just really making sure that. We're doing our due diligence as hiring managers to make sure that we're looking at, at everybody that's applying in and making sure that we're going out and getting the very best candidate and women organization has been a big help for us because they bring a different perspective..
What's going on with GE and Home Depot stocks?
"They decided to sell out four billion dollars worth of stock in Baker Hughes, a GE company the ideas is able to cut their stake to just above fifty percent from the current sixty two and a half percent. Baker Hughes is buying back. The half dollars worth of stock. And it's a ranging on GE's behalf to sell the rest. Oh, you mentioned GE's higher. Baker Hughes also up one point seven percent. You could argue that this arrangement that they've made with GE kind of removes an overhang might say for the company because let's face it. When g has the situation that it does they're looking to sell assets where they kiss CEO Larry cope was talking about just yesterday. He had to figure something was going to happen here. I don't know overhang also implies if you go out on that overhang. Don't take that last step. I'm looking at GE bonds right now, they're trading at around eighty two cents on the dollar. Yeah. Just goes to show you how much concern there is about. Jeez. Business and let's face it. It's all about what's happening with gas turbines power generation. Absolutely. I mean that that's been an issue demand's fallen off. They've had some mechanical issues with products that they've sold that they've got a, thanks. They're just basically a tough time here. All right. Let's take a look at another stock making a little bit of a move today. And this has to do with Brookefield Brookefield is buying the Johnson Controls unit for thirteen point two billion dollars. Not shabby the main Johnson Controls has been getting out of the auto parts business. They spun off the seat maker called adamant as part of this pullback and this deal with the private equity arm Brookfield asset management really complete their withdrawal from the business focusing on as the name suggests controls and we're talking about building controls typically. So that's the focus going forward. People liked the idea that it's going to be a more focused company mean clearly from the reaction to this deal with the stock up three point six percent. You know, you're talking about one of the biggest gains on the day, the S and P five hundred couple of stocks making a move lower Tyson Foods profit forecast. Disappoint some analysts. Also, taking a look at the PG and E that stock just can't get a break that has to do with the wildfires in California ongoing litigation.
GE falls below $10 for first time since 2009 after analysts say dividend cut may not be enough
"Its first earnings under its newest CEO. Let's get into this with Jim corridor equity analyst over at CF are a research on the phone in New York City. He cut his twelve month price target in two thousand eighteen EPS estimates on GE also carrying Ubale heart is our senior industrials analysts at Bloomberg intelligence. She's here in our Bloomberg interactive brokers studio, Karen I want to start with you. We mentioned this stock tumbling to a two thousand nine low below ten dollars. And that's where it sits right now. Ninety six we expected there to be a lot Latin this quarter a lot of bad junk, if you will is it worse than we expected. Walk walk us through it. I think people wanted more. There's a first of all the investigation. Now, people are like how big is that black? All the additional DOJ investigation, adding the goodwill charge that black hole is what scared people for awhile. And now, it just got bigger, and they also said that they have to help fund put more money into GE capital. The DOJ has been looking into that twenty two billion dollar charge that she took in connection with its power you. Yes. Okay. And so sorry, Jim. I it's you take a look at this worse than you expected. I mean what what was the big surprise here? Because we knew that there were some things that obviously got Larry Culpepper predecessor fired. So what really caught people off guard. I think it's the combination of the announcement of the DOJ investigation coupled with the cutting of the dividend by almost ninety five percents wiping out the dividend investors that were in the stock for the dividend. Even though it was reduced from earlier this year already. We're exiting at one cent per share at the same time that investors that were holding on with hopes for restructuring are disheartened by DOJ an SEC investigations. So are we missing something? It's an eighty six billion dollar market cap company. That's expected to have one hundred and twenty billion dollars in revenues. I mean, Karen, it's not like there is value in General Electric in. I think it's it's the unknowns that are scaring people if I look at the aerospace business is an unbelievable business, and it blew this things away in this quarter healthcare is good. I mean, standalone the company certainly got a lot of value in it. But it's just how big are the charges. How much will they pay? I have a thought on the goodwill right off. There's a lot of flexibility on when you have to recognize a goodwill charge. Caterpillar? Four years losing seventy five percent of their revenues in their mining business. And we kept saying are you going to write it down? What are you gonna write it down? There was a clause in their ten. K that says basically as long as you think there is value there over the long term, you don't necessarily have to write it down. I don't know what GE will decide, but we were badgering them to do it. And guess what they were right? The businesses rebounding. It's up twenty five percent from the bottom. And it's not back where it was. So there's that's what I learned. Oh, there's a lot more flexibility in this. So I wouldn't think they're going to necessarily. Have to take an a bigger hit. So Jim what do they need to do? Now. What do you need to hear from call to give you confidence that he's got this ship closer to to write than before? Number one. We need to have these restructurings and he's right down. Stop. We can't have a twenty two billion dollars here. Fifteen billion dollars charge in January and have it keep going on. And on we need to have stability. So that we can have some faith for the future member to Mr. call past set some targets, which they are setting. Are they need to hit them execute on these targets? So you can't really even figure out how to value a stock. Like, gee, you have some kind of firm financial data you could trust that when they tell you a credit revenue or earnings guidance. But there's a good chance they might hit. And they've missed target after target. If the target had endless restructuring, so they need to put a stop to that and start hitting at executing again. Well, okay. But do you expect that Jim to start next quarter? I'm just curious if they haven't given the new guy kind of time to get settled in a seat and really figure out where all the problems are buried so that it can come out and say, hey, folks, here's here here. It all is are we need to be patient and could be expect maybe another couple of quarters where things. We're going to be you know, we're gonna have some surprises coming out. So yeah, I would argue for patients, but if you look at GE investors, angry they didn't give John Flannery six months to to to restructuring program before they start in the door. So you know, it's gonna take awhile to take six months to a year before you can get a ship. The size of a turnaround, but investors are angry at impatient. And they're unlikely to give the company much time. They're worried about the financial side. And they didn't tell us away. They're going to generate real cash. You know, they said we're not doing Baker Hughes. The sale of Baker us shares earlier where we're not selling G casts were not, you know, they haven't given us a way we're not doing an equity offering then how you going to get out of this cash Meyer. So do you think I'll tell you? They change their mind on that. And what's the most likely scenario to raise that money? I think they do change their mind on on some of this. First of all Baker us announced today that they're halting their stock repurchase. Waiting to see what GE is gonna do. Gee, said they're not changing the. Timeframe. So there is some kind of conflict there Baker uses that basically saying, we'll take it. We'll take it. And yeah, we'll take it off the market in advance of the John July twenty nineteen lock-up period. Also GECAS they love that business. I'm not so sure they're ready to do something with that. But they're getting knocked on the door. You know, the doors get knocked down on that aircraft air aviation finance business. I don't think they're ready for that yet. But but hey, Jim just quickly got about thirty seconds. You kept your hold rating despite cutting the price target and the full year EPS estimate why just quickly. There's a lot of value. A lot of value at the company. They have great assets. They are leader in aviation transportation is doing great even though they're spinning it off healthcare is a leader in oil and gas showed stability this quarter. So there are some great assets at GE, and if they could just get they're restructuring halted get the company back on firm footing. There's going to be value there. But it's just a matter of when. It's tough to put a sell on of stock is down there. Thirty seven percent is industrial do want to rotate into the stock. You've seen. The soccer hour over time. And if they could just get some good news going. Rotate back into the sheriff down about ten percent today down forty three percent so far in two thousand eighteen Jim corridor equity analyst oversee far a research on the phone in New York. Karen, you will heart. Thank you senior industrials analyst at Bloomberg intelligence in our Bloomberg interactive brokers studio, you're listening to Bloomberg BusinessWeek, Carol Massar and Jason Kelly. This is a Bloomberg.
Markets close lower with DOW, NASDAQ and SMP all in retreat
"Right. We're looking at a down day. Few us equities here with the Dow the s&p NASDAQ all retreat and dropping three down one tenth of one percent. The Dow off session lows down thirty six now down also by one tenth of one percent. Nasdaq hanging in there just above eight thousand down thirteen now with drop their of about two tenths of one percents. Latest weekly rig count numbers from Baker Hughes shale explorers added rigs this week even as pipeline pinch has sent prices plummeting in America's busiest basin. Baker Hughes has working oil rigs rose seven this week to eight hundred and sixty
Bayer to phase out Essure birth control device in U.S.
"This is Ann Marie for totally New York. Economists are optimistic about growth in the second quarter. We're going to be looking really closely at the GDP report on Friday that's going to give us our first look at how the economy performed overall in the second quarter. GDP is one of several key reports out this week, Wall Street Journal reporter, Ben loop store f- joins us from Washington with a preview of the week ahead in just a moment. I, these news headlines. Oil industry executives are pointing to signs that international activity is picking up the chief executives of Schlumberger, and Baker Hughes, say, international customers are pursuing large projects and further exploration. Plus there are more equipment orders. Oil demand has been rising and is expected to hit one hundred million barrels a day soon, but concerns about global supply persist. Amid instability in Libya and Venezuela. Baier has announced it will stop selling its birth control implant ashore. Later this year, the company says the decision is due to declining sales, not safety and efficacy concerns about the permanent birth control device. Two years ago, the food and Drug administration required Bayer to add a warning to the device after studies linked it to pain and other health issues. America's factory towns were once predominantly democratic, but now the majority are controlled by Republicans Wall Street Journal, senior editor, Bob Davis says that's because manufacturing wants an industry of big cities like Pittsburgh and Cleveland has now shifted out of them. Manufacturing moved all over the country to eggs urban areas, twenty thirty miles outside of big cities. Next to highways. Those areas tended to be Republican and that sense. That's how the Republican party inherited and became the party of manufacturing. Davis says in nineteen Ninety-two fifteen of the twenty. Most manufacturing intensive congressional districts were controlled by Democrats. Now, all twenty of those districts are under Republican control. The Trump administration's efforts to roll back. The Affordable Care Act are creating divided healthcare landscape with some states fighting against the efforts and other supporting them. Some conservative leaning states are moving to impose work requirements on Medicaid. While those led by Democrats are working to preserve parts of the ACA like penalizing those who don't buy health insurance. The Trump administration has failed to repeal the.
Boston, Farnborough Airshow and Ge Aviation discussed on WBZ Morning News
"The big suppliers boeing airbus is the aviation unit of boston's general electric and today at the farnborough airshow the head of ge aviation says all the changes going on in the company in recent months is not having a negative effect on his division in fact he says the decision by ged spinoff it's healthcare unit and divest its stake in oil giant baker hughes will benefit ge aviation by removing constraints on on its operations sp futures up one point business reports at eight and thirty eight past the hour i'm andrew o'day bloomberg business on wbz newsradio ten thirty and you can listen to wbz newsradio ten thirty anytime anywhere to get the latest on international and domestic news by downloading the iheart radio app wbz news.
Rights group hits Amazon, Foxconn over China labor conditions
"Ai using the website read it and feted captions from the page watch people die and then asked it to describe random ink blots one of those ink blots which most of the time the a i described as a group of birds sitting on a tree branch said it now saw as a man getting electrocuted i'm john stolnis spain's maritime service rescue rescue service that he says it has saved three hundred thirty four migrants on nine boots trying to cross the mediterranean sea to reach europe the boats left from northern african countries throughout the day yesterday and this morning i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters as we've been reporting president donald trump is not on board with the communique released from the g seven summit meeting in quebec this weekend late yesterday afternoon canadian prime minister justin trudeau formally announced that all seven leaders had agreed to the final communique and then took questions about his interactions with trump all of his answers trapped to back with what he said in the past but they set trump off so from aboard air force one on his way to singapore trump instructed his aides to pull out of the communique putting the blame on what he called trudeau's very dishonest and week approach a watchdog group the china labor watch is calling on amazon dot com to improve conditions for factory workers in china who make echo speakers and kindle ereaders the group released a report following a nine month investigation of working conditions at a factory in the city of hanyang owned by han hi precision industry the company known as foxconn which manufactures products for amazon it paints a picture of low pay and intense working conditions oil drillers added more rigs in the us last week the story from bloomberg's charlie pellett drillers were undaunted by pipeline bottlenecks that are hindering efforts to ship crude from the nation's busiest field according to the weekly numbers out of baker hughes american working oil rigs rose by one this.
RWE transforms German energy industry in asset swap with E.ON, Innogy
"Daylight saving time you're an hour behind this morning the s t has been part of american life for a hundred years now first made federal law in nineteen 18 i'm christopher cruise and i'm susanna palmer from bloomberg world headquarters china's trade ministers jong shan warned that a trade war with the us would bring disaster to the global economy but he said his nation won't start one and that talks with the trump administration continue at a press conference today in beijing jong said there is no winner in a trade war senator elizabeth warren of massachusetts says a bill giving banks relief from rules impose after the two thousand eight financial crisis could be a forerunner to another round of taxpayer funded bailouts in a transcript of an interview were and gave to nbc's meet the press she says i don't think of bill like that is good for anybody in america the bill is the largest congressional overhaul of the doddfrank act there's an acquisition in germany that supporting renewable energy german energy company jahn agreed to acquire renewable energy company in od from its german rival rwe the deal continues the transformation of competitors rwe and e on that was started by german chancellor angela merkel shift toward an economy powered by renewable energy instead of nuclear and fossil fuels us oil explores have curtailed activity for the first time since january the story on that from bloomberg's charlie pellett escalating output from shale fields stunted a recovery in crude prices according to baker hughes explores idled full working oilrigs this week bringing the total to seven hundred ninety six the benchmark for us crew has followed about nine percent since touching a threeyear high in late january ballooning of american oil production cast doubt on the opecled effort to shrink a global glut charlie pellett bloomberg radio.