Just recently, oil prices hit a two-year high – but now, this week they have started to head lower.
Baker Hughes
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We will never sell or share your information without your consent. See our privacy policy.Energy News Roundup: Big Oil Pledges To Climate Change Framework, Oil Prices Seesawing & Mass Turns To Hydro
By Conor O'SullivanChief executives from 10 of the world’s largest oil and gas companies have pledged their support for reaching a climate change agreement at the upcoming conference in Paris. [FT] Oil prices seesawed on Friday as traders awaited Baker Hughes’ weekly rig count at the end of a week that saw prices slide nearly 7 percent.… Keep reading →
While it’s been said before, the US oil and gas production renaissance is nothing short of astonishing in terms of incremental volumetric production growth and the speed with which it occurred. It is interesting to drill down into new market developments that have manifested as a result of the production boom, like the emergence of… Keep reading →
Halliburton’s Acquisition of Baker Hughes Likely to Receive Close Antitrust Scrutiny from Department of Justice
By Dionne Lomax | Mintz Levin - Energy & Clean Technology MattersOn November 17, 2014, Halliburton Company (“Halliburton”) announced plans to acquire Baker Hughes, Inc. (“Baker Hughes”) for $34.6 billion. Halliburton and Baker Hughes are two of the world’s largest oilfield services companies, providing drilling, formation evaluation, reservoir consulting and related services to oil and gas producers. Halliburton and Baker Hughes are reportedly considered two of the big three global oilfield services companies in the industry, second and third behind Schlumberger Ltd. (“Schlumberger”), the leading oilfield services company in the world. Although Schlumberger is reportedly the largest oilfield service company, reducing suppliers from 3 to 2 in any market will inevitably raise red flags with the Department of Justice (the agency expected to review the transaction), who will undoubtedly conduct a thorough antitrust review.
Ed. note: This is a new weekly column by Elie Mystal, Managing Editor of Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Chinese Diplomacy: Let me get this straight: our new “deal” with China involves the U.S. agreeing to… Keep reading →
Energy News Roundup: Halliburton-Baker Hughes $34.6B Deal Struck, US Oil Output Soars & BrightSource China CSP
By Jared AndersonNews broke late last week the world’s second and third largest oil field services providers Halliburton and Baker Hughes were in merger negotiations. The combined company would more effectively compete with Schlumberger, the world’s largest oilfield service company. The deal briefly went hostile when it was reported over the weekend that Halliburton would make a… Keep reading →
Energy News Roundup: Halliburton-Baker Hughes Merger? Antarctica Melting From Below & Report Urges Hydro One Breakup
By Jared AndersonThe Wall Street Journal reported late Thursday that oil services giants Halliburton and Baker Hughes were involved in “quickly progressing” merger negotiations, which caused shares of both firms to jump. “The Journal, citing unidentified people familiar with the matter, said talks were progressing quickly and a deal could come soon.” [Fuel Fix] A new study using… Keep reading →
Some of the world’s leading oil field service companies are accused of anticompetitive behavior in which the firms allegedly colluded to manipulate the hydraulic fracturing services market. The companies face a class action lawsuit under the Sherman Antitrust Act. “The class action complaint alleges that major oilfield services companies conspired to manipulate the market for… Keep reading →