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BAROID CORPORATION AND BJ SERVICES ANNOUNCE BUSINESS ALLIANCE

 HOUSTON, July 27 /PRNewswire/ -- Baroid Corporation (NYSE: BRC) and BJ Services (NYSE: BJS), both Houston-headquartered oilfield services companies, today announced that they have formed an alliance to provide combined services to their customers. The goal of the alliance is to offer a more comprehensive range of drilling, completion, cementing and stimulation services as operators continue their trend toward partnering with service companies to enhance operating efficiency. The agreement includes joint marketing and service delivery and may extend to sharing of resources and combined research and development efforts on select projects.
 Baroid Corporation will provide drilling fluids, directional drilling services, measurement-while-drilling, mud logging, diamond drill bits and coring services to the alliance. BJ will provide pressure pumping services including cementing, acidizing and hydraulic fracturing as well as coiled tubing and casing and tubing services.
 The alliance will offer a number of benefits for oil and gas operators. Single-source contracting and project management for services will reduce the administration expense required for each project. Baroid/ BJ rig site teams will be cross-trained in both companies' expertise to encourage drilling and completion efficiency. Improved cost efficiencies would be realized through selected joint research and development efforts, shared resources and facilities during support of drilling projects, and through combined purchasing and equipment procurement.
 According to Baroid President Edward C. Hutcheson, Jr., "BJ Services' expertise in well completion, cementing and stimulation provides a range of services which naturally complement Baroid's product and service offerings. Our most important shared objective, which is helping operating companies control their costs and improve their returns, can now be better realized through our collective efforts."
 Both Baroid and BJ operate internationally, and projects utilizing the alliance are expected to be pursued in several of the world's major production areas.
 -0- 7/27/93
 /CONTACT: Robert P. Wallace of Baroid Corporation, 713-987-5186/
 (BRC BJS)


CO: Baroid Corporation; BJ Services ST: Texas IN: OIL SU: JVN

LD-TM -- NY002 -- 6028 07/27/93 08:01 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
Words:323
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