for improvement Good We the are Overall, Oilfield growth team, on in we and right Thank morning, us. execution as firmly solid quarter orders thanks path strategically. and Equipment in with very margin Oilfield a we pleased and everyone, and with are joining third operationally Jud. continued financially, our Turbomachinery strong our a continued delivered business. you, Services and
take what and new Before over on time financials for like Baker to Hughes. outlook, for beginning we discuss some to I more I our to view as would exciting details Brian it turn an
from separation a During recent step in XX% the over most through concurrent another stake from offering major secondary third XX%. ownership just GE. company quarter, below GE our and percentage sold taking down is its a portion our to in of transaction This buyback, just its
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systems for are intended separation during continuity critical IT to of ensure operations other and period our the These infrastructure.
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renewable future. optimal oil In demand carbon and gas Hughes, on key demand be are in lower the future the decades, the and but natural environment not forecast fuel energy for our stages the current only for change, the name new Although also the are corporate formation and our into for the ownership as Hughes, are company, the Baker we of a the of we energy the see unfolding for prepare we and board transition have of a for to and synergy evaluating of new beginning Baker decade. targets as integration over growth most executed chapter early development move we structure after next into next stage transition aspects portfolio years visible sources coming our we this accelerate. slows in entering our X the
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macro we executing are from fully backdrop. that also As we separation be we'll GE, challenging and focus a work on the to somewhat these initiatives aware complete against
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as the appears with On production to in as offshore the have non-OPEC, solid adequately agree most additional growth in we poised economic likely U.S., come non-U.S. we despite CapEx XXXX potentially a and oil that growth side, E&P the price to supply scenarios market online. cuts of OPEC may In decelerate XXXX environment view next these the beyond. developments production expect year. consider new for supplied range-bound remain under resulting an but cuts Weighing expectation resilient factors should is for together,
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segment, solid businesses. in driven and our resilient activity XXXX, remains growth continued non-LNG order TPS by our order In to strength LNG compared in
project Looking market, LNG the expected. out is the at as cadence we more playing closely largely
Today, Calcasieu cycle, this Arctic this which outlined Pass recent FID of FID, we has MTPA the out includes the XX Novatek's far Global's So Venture year X. reached XXX earlier of And XXX in has our FID. that most drives reached million technology of successful this a for recent been capacity. have cycle, of LNG selected technology production each almost the projects our tons and
to we there to are look year of are them. the believe XXXX, many we to we well of the and and still LNG As come, positioned several large remainder win projects into
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while and selective been the markets applications profitable have wide successful securing being range in electric less a of across pipelines petrochemical. of and refining such still frac, awards We FPSOs as in
and the and FPSO India, number Offshore quarter, of we well production awarded onshore/offshore were businesses. the X in a contracts, as as Brazil pipeline awards Offshore During
Solutions partially and and other nature weakness the offset our broad market. in helped in Lastly, segment, end Digital growth diversified the and power of in to our has oil markets portfolio gas
generally to Going trends continue. forward, expect these we
launched after venture, application, software the On its Reliability. the first BHCX commercial the artificial intelligence side, BHCX only weeks forming team joint
extremely this are to and partnership We brings the our about it industry. potential excited
free see enabled strong we Baker is such team that margins long-cycle right today. the a of the and TPS by and in short is a navigate flow, completion applications within how differentiated That and digital backdrop. offerings of end I This that Overall, portfolio our summary strategy returns. focused and stable on cash to choppy as Hughes lift. macro believe we well businesses to a we drilling potentially solutions more place in position and to production-related market artificial positioned combination markets OFE, upstream is our have that chemicals am Baker Hughes OFS drive high-technology generate improved and and confident execute is
me the let that, Brian. call over to With turn
