Nasdaq
華爾街日報Baker Hughes Expands Middle East Presence With Kuwait Oil Company Deal
Baker Hughes Company (NASDAQ:BKR) shares are trading higher premarket on Wednesday after the company grabbed a multi-year contract with Kuwait Oil Company (KOC).
The contract entails providing advanced artificial lift systems and related services for enhanced oil and gas production in Kuwait.
As per the deal, Baker Hughes will supply electrical submersible pumps (ESPs) along with installation, monitoring, and maintenance services.
The company expects to optimize performance through FusionPro intelligent production drives and the Leucipa automated field production solution, thereby improving operational reliability and minimizing nonproductive time.
Recent KOC Deals
This contract follows a third-quarter award from KOC in which Baker Hughes provided advanced wireline and perforation technologies.
Earlier in 2025, Baker Hughes penned a memorandum of understanding to create a research and development center in Kuwait's Ahmadi Innovation Valley, aimed at tackling upstream technology challenges and developing local expertise.
Aramco Contract
The company has been expanding its presence in the Middle East through collaborations with major local companies.
In October, Baker Hughes secured a multi-year contract from oil giant Aramco to expand operations across Saudi Arabia's extensive natural gas fields.
The agreement, which centers on integrated underbalanced coiled tubing drilling (UBCTD), marks a crucial step toward accelerating Aramco's access to gas resources.
Technical Analysis
Baker Hughes Company (BKR) is currently positioned below key moving averages, indicating some bearish pressure in the short term.
The stock is trading 6.4% below its 20-day SMA, 4.8% below its 50-day SMA, and 2.8% below its 100-day SMA, which suggests it may be struggling to gain upward momentum.
The RSI is at 32.68, which is considered neutral but leans towards oversold territory. This level indicates that the stock may be experiencing a lack of buying interest, and traders should watch for potential price reversals if it approaches oversold conditions.
MACD is below its signal line, indicating bearish pressure in the market. This suggests that the momentum is currently weak, and traders should be cautious about entering long positions until a bullish signal emerges.
Key support is at $43.50, while resistance is at $51.00. If the stock tests the support level and holds, it could signal a potential reversal, but a break below may lead to further declines.
The golden cross in August, when the 50-day SMA crossed above the 200-day SMA, indicates a longer-term bullish trend that traders should keep in mind.
However, the recent price action suggests that the stock is currently facing challenges in maintaining that upward trajectory.
Over the past 12 months, BKR has gained 8.72%, reflecting a positive longer-term trend despite recent volatility. This performance indicates that while the stock may be facing short-term headwinds, the overall trend remains upward.
With the current technical setup showing bearish signals in the short term, traders should be cautious and watch for signs of a reversal or confirmation of the downtrend.
BKR Price Action: Baker Hughes shares were up 0.98% at $45.46 during premarket trading on Tuesday, according to Benzinga Pro data.
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