Baker Hughes Incorporated, CSL Capital Management and West Street Energy Partners, a fund managed by the Merchant Banking Division of Goldman Sachs, announced that they have completed their pending transaction to create the new BJ Services, a pure-play North American land pressure pumping company providing hydraulic fracturing and cementing services. The transaction agreement, which was announced on Nov. 29, 2016, does not include Baker Hughes’ international pressure pumping businesses or its Gulf of Mexico offshore pressure pumping operations, which Baker Hughes will continue to operate.
BJ Services Company was founded in 1872 as the Byron Jackson Company by inventor Byron Jackson and at its peak operated in more than 50 countries worldwide. As of April 28, 2010, BJ Services Company LLC was acquired by Baker Hughes Incorporated.