United States, Australia U.S. Department of Justice Still Not Satisfied with Terms Industry enthusiasts waiting for approval of the impending merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) will have to wait a little longer. For the third time, the United States Department of Justice (DOJ) halted approval of the highly publicized merger between two of the world’s
First Proposal Denied due to “Insufficient Data” Halliburton (ticker: HAL) remains adamant on closing its $35 billion merger with Baker Hughes (ticker: BHI) by year-end, and the two oilservice giants progressed on the antitrust side by resubmitting a regulatory filing to the European Commission (EU) on November 27, 2015. The previous proposal, submitted in July, was denied due to “insufficient
Capital will be raised in Five Tranches Advocates for the highly scrutinized merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) possibly received the most positive news to date in a news release issued on November 5, 2015. Halliburton, the world’s second largest oilservice provider by market capitalization, will issue a total of $7.5 billion in senior notes to
Forecast Pushed Back in 2016 Earnings season is underway, but you’d have a hard time believing we’re in the first week of quarterlies judging from a headline from Bloomberg this morning. It reads, “$6.5 Billion in Energy Writedowns and We’re Just Getting Started.” Investors and executives in search of good news didn’t get any from the industry’s two oil service
In its Q3’15 results, management of Halliburton (ticker: HAL) was more upbeat about a market recovery than its competitor Schlumberger (ticker: SLB), but warned market difficulties are likely to continue through at least the remainder of 2015. “Looking ahead to the fourth quarter, visibility is murky at best,” said Dave Lesar, Chief Executive Officer of Halliburton, in a conference call
Producers looking to get the most out of wells are increasing volumes of frac sand In the current price environment, companies are doing everything they can to get the most out of their wells. Falling commodity prices have made wells increasingly uneconomical, a problem that is being acutely felt during quarterly reserves ceiling tests. Operators are doing everything they can
As China looks for way to meet more of its natural gas demand domestically, it has looked to improving the economics of its own shale gas development. While China is one of four countries currently producing commercial volumes of shale gas, it has not been as economical as shale development in the U.S. Despite this, there have been more than
True Price Recovery not expected until 2016 Refrac Opportunities a Factor in Current Market “Weathering the storm” was the general theme of Halliburton’s (ticker: HAL) Q2’15 earnings call, highlighted by management explaining the widespread difficulties of the challenging commodity market. “Pressure” was a commonly used term when describing margins and revenue forecasts, but Halliburton, to its credit, has outpaced activity
Department of Justice given until November 25 to review Halliburton and Baker Hughes merger Oilfield service giants Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) announced today that they have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ) that will extend the review period for the companies’ $34.6 billion merger. The agreement
Pennsylvania’s shale gas, affordable prices, preferred over Russian gas Representatives from about 15 European embassies were in attendance during a recent meeting of the Williamsport-Lycoming Chamber of Commerce to discuss lifting the ban of exports of U.S. crude oil and natural gas, and to tour a Halliburton (ticker: HAL) facility in Pennsylvania, reports The PA Media Group. Many of them
Companies Hope to Strengthen Relationship On May 20, 2015, Halliburton (ticker: HAL) and BP plc (ticker: BP) announced a mutual agreement to resolve remaining issues relating to charges and indemnities from the Deepwater Horizon disaster. The incident occurred 61 months ago to the day. In a company press release, Dave Lesar, Chairman and Chief Executive Officer of HAL, referred to
Oilservice major Halliburton announces marketing of certain assets to satisfy antitrust laws Earlier this month, Halliburton (ticker: HAL) announced that it would divest $3.5 billion in assets in the first round of divestitures to satisfy antitrust concerns in its $35 billion acquisition of Baker Hughes (ticker: BHI). HAL will be separately marketing for sale the company’s Fixed Cutter and Roller
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