Oilfield services company Baker Hughes has reported revenues of $2.68 billion for the third quarter of 2007, up 16% compared to $2.31 billion for the third quarter of 2006 and up 6% compared to the $2.54 billion recorded in the second quarter of 2007.
The company also revealed a net income of $389.1 million or $1.22 per diluted share for the three-month period, compared to $358.6 million or $1.09 per diluted share for the third quarter of 2006 and $349.6 million or $1.09 per diluted share for the second quarter of 2007.
Chad Deaton, chairman and CEO of Baker Hughes, said: Third quarter results were driven by strong international activity, a seasonal recovery in Canadian drilling, increased levels of US land activity and increased revenue from the US Gulf of Mexico. As expected, our drilling and evaluation and completion and production segments both posted improved results.