The development of biaxial segmental orientation and stress in a flexible-chain polymer fluid subjected to steady biaxial extensional flow is analyzed. Closed-formula model based on the Pade approximation of the inverse Langevin function in the non-Gaussian distribution of the chain end-to-end vectors is considered. The approach is free from the limitations related to finite chain extensibility and slow convergence of the series expansion formulations at higher chain deformations. Segmental orientation is characterized by the average orientation tensor, related axial orientation factors and global orientation anisotropy. Orientational behavior and corresponding stresses in the biaxial elongational potential flow are discussed in a wide range of elongation rates. Orientation characteristics calculated for the biaxial flow deformation are much higher than those predicted for the affine biaxial stretch deformation in polymer solids.