Halliburton and Baker Hughes Reach Agreement to Combine in Stock and Cash Transaction Valued at $34.6 Billion
Halliburton Company and Baker Hughes Incorporated today announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughesshare, representing an equity value of $34.6 billion and enterprise value of $38.0 …
Halliburton Seeking to Replace Baker Hughes Board after Merger Negotiations Stalled
Oilfield services provider Halliburton Co is seeking to replace the board of smaller peer Baker Hughes Inc, as merger talks between the companies stalled. Baker Hughes said late on Friday that it had rejected Halliburton’s initial proposal, which was made more than a month ago, in a deal that would …
Baker Hughes In Preliminary Business Combination Transaction with Halliburton
Baker Hughes Incorporated confirmed that it has engaged in preliminary discussions with Halliburton Company regarding a potential business combination transaction. These discussions may or may not lead to any transaction. Baker Hughes does not intend to comment further on market speculation or disclose any developments unless and until it otherwise …
Rosneft Discovered a New Hydrocarbon Field in the Kara Sea
Rosneft successfully completed the drilling of the northernmost well in the world – the Universitetskaya-1 well in the Arctic. According to the results of the drilling Rosneft has made an oil discovery at the East-Prinovozemelskiy-1 license area. The drilling was completed in record-breaking time – in one and a half …
Halliburton Pays $1.1bn to Cover Macondo Well Settlement
Halliburton announced that it has reached an agreement to settle a substantial majority of the plaintiffs’ class claims asserted against the company as a result of the April 20, 2010 Macondo well incident in the Gulf of Mexico. The approximately $1.1 billion settlement, which includes legal fees, is subject to approval …
Technology Roundtable: Unconventional Oil
Russia is starting to develop its unconventional reserves with pilot projects and longer term plans in place. How do you see the current state of the unconventional sector in Russia and how quickly do you think full scale unconventional development in the region will take place? Weatherford: It is difficult …
Blue Water Shipping Renews Halliburton Contract in Kazakhstan
BW Aktau has renewed a contract to provide domestic freight services for the Halliburton International Inc. Kazakhstan branch. Halliburton International Inc. is one of the largest service providers to the oil & gas industry in the world. The contract includes domestic rail freight of chemicals to various locations in Kazakhstan. …
Halliburton Announces Unconventional Resource Development Partnership with Gubkin Russian State Oil and Gas University
Halliburton announces the signing of a partnership agreement with Gubkin RussianState University of Oil and Gas for the development of unconventional resources in Russia, including the Bazhenov shale. A signing ceremony took place on January 30 at the university. As part of the agreement, Halliburton will provide senior technical and …
Landmark Launches DecisionSpace 5000.8.3 Suite
Landmark‘s DecisionSpace 5000.8.3 Suite delivers unmatched decision accuracy and cross-domain workflow efficiency The need for fast, accurate and safe reservoir and operational decisions has never been greater. Replacing reserves and addressing complex plays both onshore and offshore requires an integrated approach for evaluating and developing assets. Landmark’s DecisionSpace® 5000.8.3 suite …
Technology Roundtable: MWD, Measurement While Drilling
How does a MWD system improving drilling efficiencies and formation understanding? Baker Hughes: First of all, let’s go back to industry adopted classification of telemetry systems – MWD (measuring while drilling) and LWD (logging while drilling) systems: MWD systems provide directional survey data (well path), bottom hole temperature, pressure, …