Baker Hughes Inc. (BHI) News

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JOHANNESBURG, SOUTH AFRICA, Jul. 6, 2010 (Marketwire) --

JOHANNESBURG, SOUTH AFRICA -- (Marketwire) -- 07/06/10 -- www.rothmanresearch.com -- It was a solemnly quiet night for a 4th of July on most of the affected U.S. beaches still tarnished by the ongoing oil spill from the Macondo Well. Whilst cleaning efforts were the only sign of human activity in these areas, it was an obvious and depressing sight which not only indicated that the BP oil spill made its way in history's logs as the biggest oceanic catastrophe in the U.S., but it has also brought many communities in a state of siege as their local economies continue to be collateral damage. The 20th of April 2010 has become a cursed day for millions of American including President Obama and the many executives whose name are directly and indirectly linked to the disaster. Even hopes that natural gas would have had an opportunity to shine is slowly losing ground as the fracking process raises alarm of yet another catastrophe.

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http://www.rothmanresearch.com/article/hal/23655/Jul-06-2010.html

http://www.rothmanresearch.com/article/bhi/23656/Jul-06-2010.html

Water contamination through hydraulic fracturing, a process used to shatter layers of tight rock formations so that natural gas can migrate, has been thoroughly investigated following cases of people being affected in regions where such operations are been carried out. Halliburton Company (NYSE: HAL) which is ranked second in the world in the oilfield services segment and is one of the most controversial names in the oil and gas industry found itself entangled in another scandal with the BP oil spill. And, it would seem that Halliburton has also managed to attract headline spotlights with its use of diesel in the hydraulic fracturing process for its shale gas operations. Halliburton is not the only company that has been investigated by the House Committee. BJ Services, which had been acquired for $5.5 billion by Baker Hughes Inc. (NYSE: BHI) in first few months of 2010, has also been under scrutiny.

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In light of the uphill battle, offshore drilling companies are facing and will likely have to face in terms of additional costs to enforce security for deepwater drilling activities; the natural gas industry players can garner positive attention from the Obama Administration and others by starting to implement some security regulations in sign of good faith.

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