Baker Hughes expands in Venezuela with gas and oil deals; shares rise

Baker Hughes

05/10/2026 16:37

** Shares of US oilfield services provider Baker Hughes BKR.O rise more than 3% to $57.80
** Co says it signed a deal with Venezuela's state oil company PDVSA, engineering firm Lindsayca and Fulcrum LNG to develop natural gas infrastructure in the country
** BKR also struck a deal with New Stratus Energy to support development of future oil and gas projects
** Says the deals create a framework linking Venezuela's upstream resource development, midstream infrastructure, gas monetization and LNG commercialization
** Under the first deal, BKR, Lindsayca and Fulcrum will develop infrastructure to process, transport, sell and possibly export gas
** 21 of 26 brokerages rate the stock "buy" or above, 4 "hold" and 1 "sell", median PT is $73.50 - data compiled by LSEG
** Including session's moves, stock has risen 26.61% YTD

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))