Baker Hughes (BKR), Cactus Subsidiary Launch Joint Venture to Expand Global SPC Reach

Baker Hughes Company (NASDAQ:BKR) is one of Goldman Sachs’ top energy stock picks. On June 2, 2025, BKR announced a joint venture with a subsidiary of Cactus, Inc. (NYSE:WHD), contributing to its Surface Pressure Control (SPC) product line. The Cactus subsidiary will lead operations with a 65% stake, while Baker Hughes retains 35%.

Baker Hughes (BKR), Cactus Subsidiary Launch Joint Venture to Expand Global SPC Reach

Operating independently from Cactus’ existing pressure control business, the new venture aims to grow its presence in global wellhead and production system markets. The deal supports Baker Hughes’ portfolio optimization strategy and is expected to close in the second half of 2025, pending regulatory approvals.

“This transaction marks an important step in our ongoing portfolio optimization strategy, enabling us to sharpen our focus on core growth areas while continuing to drive higher returns, reinforcing our commitment to long-term value for our shareholders,” said Baker Hughes Chairman and CEO Lorenzo Simonelli.

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. It offers a wide range of products and services, including drilling equipment, subsea systems, and industrial power generation solutions.

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