What happened to Vetco Gray?
Vetco was sold in the 1980s to Houston-based Combustion Engineering (C-E) and moved away from its original base in the Ventura Oil Field. Vetco Gray was then acquired by Hughes Tool in 1986 for $270mm.
When did GE buy Vetco Gray?
2007
In 2007, GE acquired Vetco’s Vetco Gray for $1.9 billion. VetcoGray operated in around 30 countries and was one of the world’s leading suppliers of drilling, completion and production equipment for on- and offshore oil and gas fields, including subsea applications.
Who bought Vetco Gray?
GE Oil & Gas
GE Oil & Gas has agreed to acquire oil and gas equipment supplier Vetco Gray for $1.9 billion from Candover, 3i, and JP Morgan Partners. HOUSTON, Jan.
Who owns GE Oil & gas?
Baker Hughes
GE Oil and Gas/Parent organizations
Who is Vetco?
VETCO is a team animal health professionals dedicated to preventative health care for the family pet. You can find Vetco Wellness Centers and Vaccination Clinics inside PETCO and Unleashed stores across the United States. VETCO aspires to provide a positive, affordable, professional health care option for pet owners.
Who are Baker Hughes customers?
Our customers include the large integrated major and super-major oil and natural gas companies, U.S. and international independent oil and natural gas companies and the national or state-owned oil companies. No single customer accounts for more than 10% of our business.
Did Baker Hughes get bought out?
General Electric bought Baker Hughes in a $32 billion deal that closed in July 2017, merging the Houston company with GE Oil & Gas. Burdened by multibillion dollar losses, General Electric announced plans to sell its 62.5 percent stake in Baker Hughes nearly one year later.
Did Baker Hughes buy GE?
The 2017 deal combined GE’s oil and gas unit with Baker Hughes to form “Baker Hughes, a GE company,” with GE owning 62.5%. Former Baker Hughes investors got 37.5% of the new company and a $7.4 billion cash dividend. GE later shed its majority stake in the business, which renamed itself Baker Hughes Co.
What happened to Baker Hughes and GE?
General Electric bought Baker Hughes in a $32 billion deal that closed in July 2017, merging the Houston company with GE Oil & Gas. Under its separation deal, Baker Hughes has been able to keep its GE Oil & Gas assets and access to General Electric’s technology.