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Update: Baker Hughes Shares Rise After Petrobras Deepwater Drilling Contract in Brazil Extended

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(Updates with recent stock movement in headline and first paragraph.)

Baker Hughes (BKR) shares rose as much as 2.8% in intraday trading on Tuesday after the company said it extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin.

The company said it will supply drilling and well construction technology, including its rotary steerable system, logging-while-drilling tools and extended-life drill bits, to support deepwater development of pre-salt oil and gas fields.

Financial terms were not disclosed.

Price: $66.85, Change: $+0.79, Percent Change: +1.20%

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Update: Baker Hughes Shares Rise After Petrobras Deepwater Drilling Contract in Brazil Extended | FINWIRES