In what could be a major merger in the oil and gas industry, Baker Hughes Inc. has confirmed that company officials have are engaged in preliminary discussions related to a deal with Halliburton Co.
In a Nov. 13 statement, the company said these discussions may or may not lead to any sort of business combination transaction. Furthermore, Baker Hughes does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required.
Baker Hughes and Halliburton represent two of the biggest oil and natural gas service companies in the world. Baker Hughes has 61,000 employees who work in more than 80 countries helping customers find, evaluate, drill, produce, transport and process hydrocarbon resources. Halliburton has more than 80,000 employees, representing 140 nationalities in approximately 80 countries, who serve the upstream oil and gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.