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.
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.
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.
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.
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.
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.
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.
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.