Здравствуйте. Вся информация этого сайта бесплатна без рекламы. Вы можете сделать пожертвование и поддержать развитие этого сайта. Спасибо.

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2014-11-16 11:40:00

HALLIBURTON & BAKER HUGHES DEAL

HALLIBURTON & BAKER HUGHES DEAL

Two of the biggest oilfield services companies, Halliburton and Baker Hughes, are discussing a merger that would help both companies fend off falling oil prices, the Wall Street Journal reports. While many industry observers have speculated that lower crude prices — U.S. benchmark crude dropped below $75 a barrel Thursday — could spark some consolidation, it's surprising that the wave of mergers is starting with two of the industry's biggest players.

The services side of the energy business has already undergone consolidation among some of the larger players, including Baker Hughes' $5.5 billion acquisition of BJ Services in 2010 and General Electric's $3.3 billion purchase of Lufkin Industries last year.

The next wave of deals was expected to come as smaller, more specialized service companies bought up others to augment the portfolio of equipment and services they sell. The U.S. onshore market, in particular, remains highly fragmented. A combined Halliburton and Baker Hughes, for example would control just 25 percent of the U.S. hydraulic fracturing market, the Journal reported.

That leaves a lot of room for other deals as companies clamber to shield themselves from falling crude prices. Shares of other service companies such as Weatherford International, Ensco and Nabors Industries all rose after news of the Halliburton deal hit the market Thursday.

Declines in commodity prices tend to affect service companies more directly. Before the deal was reported Thursday, shares of Baker Hughes and Halliburton had tumbled more than 30 percent since July.

Halliburton and Baker Hughes have been in talks for several months, as prices began to slide, Bloomberg reported. While the deal may be a response to declining oil prices, it also shows that Halliburton is using what it sees as short-term volatility in the oil market to strengthen its position against rival Schlumberger. Halliburton chief executive David Lesar told Bloomberg recently that he believes prices will stabilize next year and then begin climbing again.

The deal is likely to face significant anti-trust hurdles, especially in areas such as cement services, where the two companies would dominate the market. That means the companies are likely to be selling assets to win regulatory approval, which is likely to add to the deal activity in the services sector in the coming year.

forbes.com

Tags: HALLIBURTON, BAKER, HUGHES, OIL, PRICES,

Chronicle:

HALLIBURTON & BAKER HUGHES DEAL
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

HALLIBURTON & BAKER HUGHES DEAL
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

HALLIBURTON & BAKER HUGHES DEAL
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

HALLIBURTON & BAKER HUGHES DEAL
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00