Shares of oilfield services giant Baker Hughes (BHI) were higher Wednesday ahead of its fourth-quarter financial results.

The Street is expecting a loss of 12 cents a share on revenue of $2.4 billion for the period.

Investors will likely focus on the company's North America segment results as exploration and production activity picked up following the historic OPEC agreement in November. That bodes well for oilfield services companies like Baker Hughes, which will get more contracts to set up oil wells.

Investors will also be looking for any further updates on Baker Hughes' merger with General Electric's (GE - Get Report) Oil and Gas Business. The deal is expected to close in mid-2017.

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