Services companies look to consolidate


Issue 290 - 04 Dec 2014 | 2 minute read

The lower oil price has already seen consolidation deals on the table between oil services companies that are under pressure to lower costs as the market softens. Halliburton has agreed to buy Baker Hughes in a stock and cash transaction valued at $34.6bn, while seismic company CGG has turned down an approach from Technip. Halliburton and Baker Hughes are the second and third biggest US services companies, and a merger between them will close the gap with Schlumberger, the leading player.

Tagged with:

Pin Resources

Want to read more?

Subscribe to African Energy

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register