Baker Hughes (ticker: BHI), in its weekly release, says the number of rigs exploring for oil and natural gas in the U.S. declined to 988 this week. This marked the first time the weekly count was below 1,000 since September 2009. Baker Hughes’s count put 760 rigs seeking oil and 225 were drilling for natural gas. Three were listed as
Asset sales would satisfy antitrust laws Next month Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) plan to seek out buyers for as much as $10 billion in assets in order to avoid antitrust concerns and complete their merger, sources familiar with the matter told Bloomberg. The divestitures will target at least four overlapping areas of business in the companies
The Baker Hughes active U.S. rig count shows another drop this week The Baker Hughes (ticker: BHI) weekly rig count for the week ended March 13, 2015, shows rig counts falling for the fourteenth straight week. The total number of active rigs in the U.S. fell by 67 to 1,125, down 6% from last week’s report. Rigs drilling for oil
Two oilservice giants standing tall in face of downturn The oil and gas industry may be bracing for a downturn in drilling operations, but Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) are entering 2015 on the heels of one of the finest years in each company’s respective history. Discussions for the merger are continuing as planned and are expected
Includes $3.5 Billion Payout to Baker Hughes if Merger Fails to Gain Antitrust Approval The rumblings of a landmark oilservices deal that began on Thursday evening came to fruition over the weekend. By Monday, November 17, 2014, Halliburton (ticker: HAL), the second largest oilservices provider, announced plans to merge with rival Baker Hughes (BHI). BHI, the world’s third largest oilservices
Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) have begun preliminary talks of a merger, Dow Jones reported on November 13, 2014. BHI confirmed the report later in the evening but did not make any guarantees as to the completion of the merger. “Baker Hughes does not intend to comment further on market speculation or disclose any developments unless and until it
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