Page 13 - NorthAmOil Week 10 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

commitment to climate and sustainability Today’s order builds on an award in the Independence Contract
initiatives. We look forward to continuing to fourth quarter of 2021 for Baker Hughes
supply Engie with flexible, cleaner burning to provide power generation and electrical Drilling reports unaudited
LNG as part of our shared vision of a lower distribution equipment for the comprehensive
carbon future.” power island system of Venture Global LNG’s financial results for the
CHENIERE ENERGY, March 09, 2022 Plaquemines LNG project.
“We are delighted to continue our strong fourth quarter and year
collaboration with Venture Global LNG. The
SERVICES Plaquemines LNG project is another great ended December 31, 2021
example of our extensive experience with
Baker Hughes announces modular LNG to provide fully integrated Independence Contract Drilling today
reported financial results for the three and
compression and power solutions,” said
major turbomachinery order Rod Christie, executive vice president of twelve months ended December 31, 2021.
Turbomachinery & Process Solutions at
In the fourth quarter of 2021, the company
for Venture Global LNG’s Baker Hughes. “As an energy technology reported revenues of $28.6mn, a net loss of
company, Baker Hughes’ role is to provide the
$31.5mn, or $3.23 per share, adjusted net loss
Plaquemines LNG project most efficient and lower carbon technology of $13.2mn, or $1.35 per share, and adjusted
EBITDA (defined below) of $1.5mn. These
solutions to meet our customers specific
Baker Hughes has been awarded a contract needs, and LNG is a critical part of the energy results compare to revenues of $13.3mn, a net
and granted notice to proceed by Venture future. We see a new LNG cycle emerging loss of $43.1mn, or $7.02 per share, adjusted
Global LNG to provide a liquefied natural and expect demand will remain robust in the net loss of $16.3mn, or $2.65 per share, and
gas (LNG) system for the first phase of the coming years.” adjusted EBITDA loss of $1.5mn in the fourth
Plaquemines LNG project in Louisiana. “Baker Hughes has been an outstanding quarter of 2020, and revenues of $24.0mn,
The highly efficient liquefaction train partner to Venture Global and we look a net loss of $4.3mn, or $0.59 per share, an
system (LTS) supplied by Baker Hughes is forward to building on that parternship as we adjusted net loss of $13.7mn, or $1.87 per
modularized, helping to lower construction ramp up construction at Plaquemines LNG,” share, and adjusted EBITDA of $0.7mn in the
and operational costs with a “plug and play” said Mike Sabel, Venture Global LNG CEO. “I third quarter of 2021.
approach that enables faster installation. Baker want to thank Lorenzo Simonelli and his team For the year ended December 31, 2021,
Hughes manufactures, tests and transports the for their execution and delivery at Calcasieu the company reported revenues of $88.0mn,
pre-assembled and fully integrated modular Pass, notwithstanding the challenges of a a net loss of $66.7mn, or $8.89 per share, an
turbomachinery units for Venture Global global pandemic. Together we will continue adjusted net loss of $57.9mn, or $7.72 per
LNG at its state-of-the-art manufacturing and to innovate and transform the LNG industry, share, and adjusted EBITDA loss of $0.3mn.
assembly facilities in Italy. bringing this essential fuel to the global This compares to revenues of $83.4mn, a
As part of the scope, Baker Hughes market to meet the world’s growing energy net loss of $96.6mn, or $19.69 per share, an
will also provide field services to assist in needs.” adjusted net loss of $53.3mn, or $10.86 per
commissioning of the supplied equipment. BAKER HUGHES, March 09, 2022 share, and adjusted EBITDA of $7.0mn for the

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