oilfield services

Halliburton Takes $2.2B Charge From Shale Slump
Financial Performance

Halliburton Takes $2.2B Charge From Shale Slump

“The U.S. shale industry is facing its biggest test since the 2015 downturn," Halliburton CEO Jeff Miller told analysts.
By Matthew Heller | January 21, 2020
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McDermott CFO Resigns After $1.9 Billion Loss
People

McDermott CFO Resigns After $1.9 Billion Loss

The company said Stuart Spence left to “pursue other opportunities” and was replaced by Chris Krummel, formerly chief accounting officer.
By Matthew Heller | November 6, 2019
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GE Keeping Faith in Baker Hughes Merger
Strategy

GE Keeping Faith in Baker Hughes Merger

GE had been exploring "exit options" but CFO Jamie Miller says it now sees "a lot of upside" for Baker Hughes.
By Matthew Heller | February 23, 2018
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GE, Baker Hughes to Merge Oil, Gas Businesses
Strategy

GE, Baker Hughes to Merge Oil, Gas Businesses

The companies believe the combined entity will be positioned to benefit from the expected recovery in oil prices.
By Matthew Heller | October 31, 2016
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Baker Hughes Refocusing After Merger Deal Dies
Strategy

Baker Hughes Refocusing After Merger Deal Dies

The oilfield services giant will use its $3.5 billion breakup fee from Halliburton to fund a $1.5 billion share buyback.
By Katie Kuehner-Hebert | May 2, 2016
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Halliburton Cuts 6,000 Jobs as Revenue Falls 17%
Strategy

Halliburton Cuts 6,000 Jobs as Revenue Falls 17%

"What we are experiencing today [in the energy industry] is far beyond headwinds; it is unsustainable," Halliburton's president says.
By Katie Kuehner-Hebert | April 25, 2016
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U.S. Sues to Block Halliburton-Baker Hughes Deal
Strategy

U.S. Sues to Block Halliburton-Baker Hughes Deal

"I have never seen [a merger] that poses so many antitrust problems in so many markets," a top Justice Department official says.
By Matthew Heller | April 6, 2016
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Antitrust Cloud Over Halliburton-Baker Hughes Deal
Strategy

Antitrust Cloud Over Halliburton-Baker Hughes Deal

The U.S. Justice Department reportedly is concerned over whether other oilfield-services companies will provide credible competition.
By Matthew Heller | December 11, 2015
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Schlumberger to Buy Rival Cameron for $12B
Strategy

Schlumberger to Buy Rival Cameron for $12B

The proposed merger of oilfield services companies is the latest example of industry consolidation driven by the decline in oil prices.
By Katie Kuehner-Hebert | August 26, 2015
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