HOUSTON, Dec. 2 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; EBS) announced today that it has acquired all of the outstanding share capital of Zeroth Technology Limited ("Zertech"), a privately owned company based in Aberdeen, Scotland. Zertech has developed and patented a unique, non-elastomer, expandable metal sealing element that is currently marketed in well intervention applications. Zertech's current customers include major oil and gas exploration and production companies in the United Kingdom, Norway and the Middle East. Interest in its sealing technology is growing in other producing areas of the world.
Zertech was recently awarded the International Coiled Tubing Association European Chapter Award for Innovation and Technology. This award is presented annually to recognize oilfield operating and service companies who demonstrate the application of technical innovation in the area of well intervention.
Forward Looking Statements
This news release (and any oral statements) may contain forward-looking statements within the meaning of Section 27A or the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forecasts regarding the revenues of Zertech are based on information provided by the prior owners of Zertech. These forecasts may be substantially different from actual results. Additional information and risk factors are contained in our Form 10-K for the fiscal year ended December 31, 2004 and other filings with the SEC about the risks and uncertainties that could cause actual results to be different. The company's SEC filings can be viewed at http://www.bakerhughes.com . The company assumes no responsibility to update any of the information referenced in this news release.
Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry.
**** NOT INTENDED FOR BENEFICIAL HOLDERS Contact: Gary R. Flaharty (713) 439-8039 H. Gene Shiels (713) 439-8822
SOURCE Baker Hughes Incorporated
CONTACT: Gary R. Flaharty, +1-713-439-8039, or
H. Gene Shiels, +1-713-439-8822,
both of Baker Hughes Incorporated