BJ Services Company (NYSE:BJS) will release the fourth quarter earnings for 2009 on Monday, November 23. The financial results will be posted on the company’s Investors website at www.bjservices.com/website/bjinvest.nsf. There will be no conference call to discuss the financial results this quarter.
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BJ Services recently announced, on August 31, 2009, a merger agreement with Baker Hughes Incorporated (NYSE:BHI). The merger is valued at $5.5 billion for the company, based on closing stock prices on August 28, 2009. As a result, BJ Services stockholders will get 0.40035 shares of Baker and Hughs and $2.69 cash for each share ob BJ Services common stock. Upon closing, BJ Services stockholders will own 27.5% of Baker and Hughes’ outstanding shares.
BJ Services Company is a provider of pressure pumping and oilfield services for the petroleum industry. Pressure pumping services consist of cementing and stimulation services used in the completion of new oil and natural gas wells and in remedial work on existing wells, both onshore and offshore. Oilfield services include casing and tubular services; pre-commissioning, maintenance and turnaround services in the pipeline and process business, including pipeline inspection; chemical services; completion tools, and completion fluids. The Company conducts its operations through four segments: U.S./Mexico Pressure Pumping Services; Canada Pressure Pumping Services; International Pressure Pumping Services, and Oilfield Services Group. On May 21, 2008, the Company acquired Innicor Subsurface Technologies Inc.
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