HOUSTON, Oct. 1, 2014 /PRNewswire/ -- Baker Hughes
Incorporated (NYSE: BHI) announced today that it has implemented a
new policy of disclosing 100% of the chemistry contained within its
hydraulic fracturing fluid systems, without the use of any trade
secret designations.
The company announced in March of this year its plans to provide
complete lists of all of its products and chemical constituents for
all wells it fractures using its hydraulic fracturing fluid
products, without detailing specific product formulations. In so
doing, Baker Hughes hopes to increase public trust in the process
of hydraulic fracturing, while still protecting the market-driven
commercial innovation that has helped the company become a global
industry leader.
"Introducing greater transparency about the chemicals used in
the hydraulic fracturing process and protecting the ability to
innovate are not conflicting goals," said Derek Mathieson, Baker Hughes chief strategy
officer. "The policy we are implementing today is consistent with
our belief that we are partners in solving industry challenges, and
that we have a responsibility to provide the public with the
information they want and deserve. It simultaneously enables us to
protect proprietary information that is critical to our
growth."
For each fracturing job the company performs on or after
October 1, 2014, the policy mandates
that Baker Hughes will disclose a single list of all of the
chemical constituents of its products used, while also specifying
their maximum concentrations.
Baker Hughes' policy is fully compatible with the online
national hydraulic fracturing chemical registry known as FracFocus.
All of the company's disclosure forms can be found at
www.fracfocus.org.
Baker Hughes is a leading supplier of oilfield services,
products, technology and systems to the worldwide oil and natural
gas industry. The company's 60,000 employees today work in more
than 80 countries helping customers find, evaluate, drill, produce,
transport and process hydrocarbon resources. For more information
on Baker Hughes, visit: www.bakerhughes.com.
CONTACT:
Media Relations:
Melanie Kania, +1.713.439.8303,
melanie.kania@bakerhughes.com
SOURCE Baker Hughes Incorporated