2000 Annual Report
Total Page:16
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3900 Essex Lane, Houston, TX 77027 P.O. Box 4740, Houston, TX 77210-4740 713-439-8600 Baker Hughes is positioned to deliver best-in-class products and services to help drill, evaluate, complete and produce oil and gas wells. In 2000, we leveraged INTEGRITY the strengthBAKER of our technology-focused divisions to BEST increase revenues 6% and improve after-tax operating LEARNING profit by 290% in a growing market. IN TEAMWORK We have strengthened our corporate leadership, renewed our strategic focus, and reduced debt to BAKER HUGHES INCORPORATED ANNUAL REPORT 2000 BAKER HUGHES INCORPORATED CLASS gain financial flexibility.We are in an excellent PERFORMANCE positionHUGHES to benefit from the strong natural gas market in North America and growing international drilling activity. ANNUAL REPORT 2000 3900 Essex Lane, Houston, TX 77027 P.O. Box 4740, Houston, TX 77210-4740 713-439-8600 Baker Hughes is positioned to deliver best-in-class products and services to help drill, evaluate, complete and produce oil and gas wells. In 2000, we leveraged INTEGRITY the strengthBAKER of our technology-focused divisions to BEST increase revenues 6% and improve after-tax operating LEARNING profit by 290% in a growing market. IN TEAMWORK We have strengthened our corporate leadership, renewed our strategic focus, and reduced debt to BAKER HUGHES INCORPORATED ANNUAL REPORT 2000 BAKER HUGHES INCORPORATED CLASS gain financial flexibility.We are in an excellent PERFORMANCE positionHUGHES to benefit from the strong natural gas market in North America and growing international drilling activity. ANNUAL REPORT 2000 SIX STRATEGIES FOR GROWTH AND IMPROVED RETURNS BAKER HUGHES AT A GLANCE CORPORATE INFORMATION n 2001 Baker Hughes will pursue six strategies to sustain OILFIELD PRODUCT LINES Corporate Officers Board of Directors Stockholder Information Michael E. Wiley Lester M. Alberthal, Jr. * Transfer Agent and Registrar Drilling Formation Evaluation Completion Production Chairman, President and Retired Chairman of the Board, EDS Mellon Investor Services, L.L.C. Chief Executive Officer 85 Challenger Road Hughes Christensen Victor G. Beghini Ridgefield Park, New Jersey 07660 growth and consistently improve returns. 1) Develop a Tricone® Drill Bits G. Stephen Finley Retired Vice Chairman, (888) 216-8057 PDC Drill Bits Senior Vice President, Finance and Marathon Group, USX Corporation and Diamond Drill Bits Administration, and Chief Financial Officer Retired President, Marathon Oil Company Drilling Optimization Services Stock Exchange Listings Ticker Symbol “BHI” Joseph T. Casey Andrew J. Szescila New York Stock Exchange, Inc. high-performance culture based on core values shared INTEQ Senior Vice President and Retired Vice Chairman and Directional Drilling Services Logging While Drilling Pacific Exchange, Inc. Chief Operating Officer Chief Financial Officer, The Swiss Stock Exchange Rotary Steerable Systems Coring Western Atlas, Inc. Performance Drilling Systems Reservoir Navigation Services Trevor Burgess I Drilling Fluids Investor Relations Office Vice President, Edward P. Djerejian ** Gary R. Flaharty by all employees. 2) Build on the competitive strengths of Marketing and Technology Director, James A. Baker III Institute Baker Atlas Director Investor Relations Wireline Logging Wireline Conveyed Perforating Production Logging for Public Policy, Rice University Alan R. Crain, Jr. Baker Hughes Incorporated Open Hole Logging Cased Hole Logging Pipeline Inspection P.O. Box 4740 Formation Fluid Sampling Pipe Recovery Vice President and General Counsel Eunice M. Filter Houston, Texas 77210-4740 Petrophysical Analysis Vice President, Secretary and Treasurer, strong, technology-focused divisions. 3) Centrally-direct Douglas C. Doty Xerox Corporation [email protected] Baker Oil Tools Vice President and Treasurer Completion Systems Workover Services Joe B. Foster * Form 10-K Intelligent Well Systems Fishing Services Arthur T. Downey Chairman, Newfield Exploration Additional copies of the Company’s Multilateral Well Systems Thru-tubing Technology Vice President, Government Affairs Annual Report to the Securities and strategic planning, technology, capital allocation and human Safety Valves Milling Systems Claire W. Gargalli Exchange Commission (Form 10-K) are Packers Sidetracking Systems Alan J. Keifer Former Vice Chairman, Diversified Search available by writing to Baker Hughes Liner Hangers Vice President and Controller and Diversified Health Search Companies Investor Relations Sand Control Tubing Conveyed Perforating Annual Meeting resources. 4) Focus on best-in-class product lines. 5) Seek Flow Control John H. Lohman, Jr. Richard D. Kinder Vice President, Tax Chairman and Chief Executive Officer, The Company’s Annual Meeting of Centrilift Kinder Morgan, Inc. and Stockholders will be held at 11:00 a.m. Electric Submersible Pump Greg Nakanishi Kinder Morgan Energy Partners, L.P. on April 25, 2001 at the offices of the Systems Vice President, Human Resources Company: 3900 Essex Lane, Suite 210, growth opportunities across operating divisions. 6) Maintain Downhole Oil/Water Separation James F. McCall Houston, Texas. John A. O’Donnell Lt. General, U.S. Army (Retired), Baker Petrolite Vice President, Executive Director of the American Corporate Office Location Specialty Chemical Programs Business Process and Development Society of Military Comptrollers and Mailing Address Deepwater Flow Assurance 3900 Essex Lane financial flexibility and discipline. Corrosion Inhibitors Sandra E. Alford J. Larry Nichols *** Houston, Texas 77027 Hydrate Inhibitors Corporate Secretary Chairman, President and Telephone: (713) 439-8600 Paraffin and Asphalt Inhibitors Chief Executive Officer, P.O. Box 4740 Pipeline Flow Enhancers Devon Energy Corporation Refining and Distribution Ray A. Ballantyne Houston, Texas 77210-4740 Products Vice President and President, Baker Hughes INTEQ H. John Riley, Jr. Web site Chairman, President and http://www.bakerhughes.com David H. Barr Chief Executive Officer, Vice President and President, Cooper Industries, Inc. Baker Hughes Keys to Success Baker Hughes Revenues Revenues By Region Baker Hughes Information Systems Baker Atlas (888) 408-4244 2000 2000 Charles L. Watson People contributing at Delivering unmatched value Being cost efficient in Employing our resources Joseph F. Brady Chairman and Chief Executive Officer, Dynegy, Inc. their full potential. to our customers. everything we do. effectively. Vice President and President, * Will resign at the Annual Meeting of Centrilift Everyone can make a Max P.Watson, Jr. **** Stockholders to be held April 25, 2001. Baker Process CIS difference. James R. Clark Chairman, Western Geophysical Asia ** Nominee to fill the vacancy in Class I Vice President and President, BMC Software, Inc. directors caused by the decision of Baker Hughes Core Values Oilfield Operations, excluding Middle East Baker Petrolite Corporation Mr. Watson not to stand for re-election. Western Geophysical Africa Edwin C. Howell *** Elected by the Board to fill the vacancy Integrity | We believe Teamwork | We believe Performance | We believe Learning | We believe a USA in Class II caused by the resignation of Vice President and President, Mr. Foster. integrity is the foundation teamwork leverages our performance excellence will learning environment is the way Europe Baker Oil Tools of our individual and corporate individual strengths. We willingly differentiate us from our to achieve the full potential of Canada **** Will not stand for re-election. actions. We are accountable share our resources as we work competitors. We work hard, each individual and the company. Douglas J. Wall Latin America for our actions, successes toward common goals. celebrate our successes and Vice President and President, and failures. learn from our failures. Hughes Christensen Company Design: Savage Design Group,Design: Savage Inc., Houston, Texas SIX STRATEGIES FOR GROWTH AND IMPROVED RETURNS BAKER HUGHES AT A GLANCE CORPORATE INFORMATION n 2001 Baker Hughes will pursue six strategies to sustain OILFIELD PRODUCT LINES Corporate Officers Board of Directors Stockholder Information Michael E. Wiley Lester M. Alberthal, Jr. * Transfer Agent and Registrar Drilling Formation Evaluation Completion Production Chairman, President and Retired Chairman of the Board, EDS Mellon Investor Services, L.L.C. Chief Executive Officer 85 Challenger Road Hughes Christensen Victor G. Beghini Ridgefield Park, New Jersey 07660 growth and consistently improve returns. 1) Develop a Tricone® Drill Bits G. Stephen Finley Retired Vice Chairman, (888) 216-8057 PDC Drill Bits Senior Vice President, Finance and Marathon Group, USX Corporation and Diamond Drill Bits Administration, and Chief Financial Officer Retired President, Marathon Oil Company Drilling Optimization Services Stock Exchange Listings Ticker Symbol “BHI” Joseph T. Casey Andrew J. Szescila New York Stock Exchange, Inc. high-performance culture based on core values shared INTEQ Senior Vice President and Retired Vice Chairman and Directional Drilling Services Logging While Drilling Pacific Exchange, Inc. Chief Operating Officer Chief Financial Officer, The Swiss Stock Exchange Rotary Steerable Systems Coring Western Atlas, Inc. Performance Drilling Systems Reservoir Navigation Services Trevor Burgess I Drilling Fluids Investor Relations Office Vice President, Edward P. Djerejian ** Gary R. Flaharty by all employees. 2) Build on the competitive strengths of Marketing and Technology Director, James A. Baker III Institute