Offshore

Baker Hughes Finalizes SPC JV With Cactus

Baker Hughes closed its SPC joint venture with a Cactus, Inc. subsidiary, receiving $344.5 million (pre-adjustments) and retaining a 35% stake.

Photo source: Baker Hughes

3, January 2026
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Baker Hughes announced on 2 January 2026 that the joint venture it previously disclosed with a subsidiary of Cactus, Inc. has reached final closing, after Baker Hughes contributed its surface pressure control (SPC) business line to the venture.

Equity ownership in the new entity is split with Cactus, Inc. holding 65% and Baker Hughes keeping 35%. Baker Hughes said the transaction delivers $344.5 million in cash proceeds before customary post-closing adjustments, supporting liquidity and balance-sheet strength.

The company described the closing as a step within its portfolio and capital allocation framework, aimed at improving the resilience of earnings and cash flow and allowing capital to be directed toward higher-return opportunities.

Tags: capital allocation, joint venture, oil and gas services, pressure control equipment, surface pressure control

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.

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