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File photo of the company logo of Halliburton oilfield services corporate offices in Houston

Breaking: Halliburton to purchase Baker Hughes

Dow Jones reported today that Halliburton may buy Baker Hughes. The companies are two of the largest oil field service companies in the world. Prior to the announcement it has been stated that Baker Hughes is worth around $22 billion dollars. Halliburton has an estimated worth of $47 billion.  Both companies currently have declined to comment on the acquisition.

If the two companies combine it would create a drilling conglomerate worth an estimated $67 billion. Baker Hughes employs 61,000 people. Halliburton employs 80,000. Schlumberger, the industry’s current leader, is worth $125 billion.

This rumor comes on the tails of a ‘oil price panic’ due to rapidly dropping oil prices. Most industry leaders are not only banking on prices going back up, but they are assuring investors and journalists alike that they will. This merger would be one of the largest in recent energy industry history.

75 comments

  1. Such buy outs ruin competition, QA/QC of services, jobs, and our energy independence. What are the benefits?

    • Really??? Energy independence? You act like Halliburton owns oil and gas wells. They are a service company, which means that they merely service the wells that produce oil and gas. There are plenty of locally owned service companies that will do a “botch job”. So you tell me… Is it worth paying a little bit more to get the job done right the first time, or let someone else screw it up only to call one of the “majors” in to come fix the problem?

  2. I just wish I could get a job with them so difficult

  3. Yeah wanta see the hourly pay drop to nothing. This will ruin competition for sure.

  4. This is very indicative of the long-term success of the energy boom.

  5. Halliburton will own everything in a few years

  6. Doesn’t matter they will always be 2nd to Schlumberger

  7. My husband just got a job with Baker Hughes and is almost done with school. They got told about this today

  8. Them boys has come a long way baby straight out the mud good for them and all their employees!

  9. Kasey Mills, is this true?

  10. HAL stock will do well in next couple years!

  11. No,no,no,HELL no. The larger a company is,the less. competition ,and easier for the government to regulate and control .

  12. Ya se Jesus Garcia aver que pasa

  13. Dick Cheney….. Lookin for another gulf war venture with yellow cake…oops..

  14. Not good for pay not good for producers.

  15. Halliburton is bigger than Schlumberger for sure now.

  16. Nooo. The branded will becomes red&blue blahhh..

  17. Schlumberger would still be almost double the size even if they do merge. 67 combined verses 125 billion for Schlumberger alone.

  18. Nick DelGrosso is going big time.

  19. Antitrust laws need put back in place to protect us 85% of the country is owned by less than ten company’s

  20. Been on the phone most of the morning.

  21. Baker should sell. Big Red would run it better.

  22. well I’m in the trucking industry been working up there for four years in Williston driving lowboys cement mixers side down belly dumps

  23. Thay are buying a lot of small copanys to.

  24. You don’t want Halliburton running this company.

  25. Halliburton already controls the price of oil… Give them what they want and we will have to deal with them like we do Obama…. Just saying…

  26. Allen Overall, Halliburton is an oil feild service company, not an oil company. How poorly informed you are. Ever heard of BP, Shell or Chevron?

  27. That’s awesome now everyone can have crappy Halliburton wages

  28. Bp sold 99 percent of its oil leases in the Permian basin to help pay for the new Louisiana purchase

  29. I think it is funny how people bad mouth Halliburton well I work for them and they are great to me and my family and as far as pay lets just say most couples in today’s society so just think before u bad mouth because I can promise u this if they do buy out then the changes that can happen are great and instead of being hearded u should adapt and grow with them

  30. Be still my heart!!!! Say it ain’t so…

  31. This shouldn’t happen… Not a good idea.

  32. That’s nice more things for them to break

  33. They’re announcing the buyout today

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