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Baker Hughes has successfully completed the acquisition of Altus Intervention. The acquisition includes all intellectual property, personnel, and commercial agreements.

Altus Intervention’s technology and operating model strengthens Baker Hughes’ Oilfield Services & Equipment product company by complementing the existing portfolio of intervention solutions and enhancing the company's life-of-well capabilities.   As operators look for ways to increase efficiency, decarbonize operations and prolong the life of their assets, intervention and production enhancement will be critical and long-term growth drivers for the industry.

“This acquisition supports our short- and long-term strategies of transforming core oil and gas operations by enhancing technological capabilities and providing customers with higher-efficiency solutions,” said Maria Claudia Borras, Executive Vice President of Oilfield Services & Equipment (OFSE) at Baker Hughes. “We value the Altus Intervention team’s deep expertise and technology and are excited about the services and integrated well intervention solutions available to our customers.”

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.