Companies that provide drilling and oil field services are struggling as falling prices soften the outlook in the U.S. oil patch.
But one of the country’s largest oil field service companies is outperforming expectations in part to a surprising source: its work with data centers.
Houston-based Baker Hughes saw its net income rise by 21 percent in the second quarter of 2025 compared with same period a year earlier. The company’s performance contrasts with competitors Halliburton and SLB, which posted year-over-year net income declines of 33 percent and 9 percent, respectively.
Baker Hughes’ success in attracting data center contracts underpins a hope from the oil and gas industry that increasing power needs at data centers will be a boon for infrastructure usually seen in areas that produce oil and gas.
