HOUSTON, March 1 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated(NYSE: BHI; PCX; EBS) announced today that it has completed the sale of itsminority interest in Petreco International to Cooper Cameron Corporation(NYSE: CAM). The sales price was approximately $36 million. The company doesnot believe the transaction is material to Baker Hughes' financial conditionor results of operations.
Forward Looking Statement
This news release (and oral statements made regarding the subjects of thisrelease) contain forward-looking statements within the meaning of Section 27Aof the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended. The words "believe," and similarexpressions are intended to identify forward-looking statements. TheCompany's expectations with regard to the impact of this transaction aresubject to various factors and conditions. The Company assumes no obligationto update any of the information referenced in this news release. There aremany risks and uncertainties that could cause actual results to differmaterially.
Baker Hughes is a leading provider of drilling, formation evaluation,completion and production products and services to the worldwide oil and gasindustry.
NOT INTENDED FOR BENEFICIAL HOLDERS
Contact:
Gary R. Flaharty (713) 439-8039
Kyle J. Leak (713) 439-8042
SOURCE Baker Hughes Incorporated
CONTACT: Gary R. Flaharty, +1-713-439-8039, or Kyle J. Leak,
+1-713-439-8042, both of Baker Hughes Incorporated
Web site: http://www.bakerhughes.com
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