Michael E. Wiley, Chairman, President and CEO of Baker Hughes stated, "As a result of the improvement in the company's financial flexibility, we are in a position where we are able to take advantage of various strategic options. This stock repurchase program is expected to give us the ability to more effectively manage our capital structure. The stock repurchase program will be balanced with other strategic options, including internal and external investment opportunities and further debt reduction."
This news release (and oral statements made regarding the subjects of this release) contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "expected," "intends," "should," "will," "may," "could," and similar expressions are intended to identify forward-looking statements.
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 firstname.lastname@example.org Kyle J. Leak (713) 439-8042 email@example.comSOURCE Baker Hughes Incorporated