In early 2017, Baker Hughes (prior to GE buying them) spun off its North American shale fracking business (“pressure pumping”) into a new, standalone company called BJ Services (see 3 Parents Give Birth to New Fracking Co: BJ Services). The “new” company involved investments and assets contributed from both Goldman Sachs and CSL Capital Management, in addition to BH. BJ Services used to exist as a standalone company before it was purchased by, and merged into, Baker Hughes in 2009–for $5.5 billion. BJ remained its own separate division within BH, but then got spun out again, back into its own company. We know, a bit confusing. Here’s what you need to know. In March 2016, BH closed its BJ operation in Mill Hall (Clinton County), PA and moved it to Clarksburg (Harrison County), WV. Now the reverse is happening. BJ, the standalone company, announced it is closing the Clarksburg operation and relocating it back to Mill Hall, along with some 200 people…
