Oilfield services company Baker Hughes said it formed a business venture with Goldman Sachs and others that would focus on North American hydraulic fracturing. Baker Hughes will own a 46.7 percent stake in an entity created with CSL Capital Management and Goldman Sachs that includes services tied to hydraulic fracturing operations in the United States and Canada. The new company will operate under the brand of BJ Services with headquarters in Tomball, Texas. Martin Craighead, the chairman and CEO of Baker Hughes, said the new business unit will tighten the focus on the North American market while at the same time easing financial constraints. “In line with our asset-light strategy, this ownership model enables Baker Hughes to participate in the […]