Houston Matters

Whatever Happened to the Halliburton-Baker Hughes Merger?

Remember how in November 2014, Halliburton and Baker Hughes announced they were merging? The nation’s second and third largest oilfield service companies coming together to the tune of $34.6 billion. Then…nothing. The merger hasn’t happened yet. In the more than 14 months since, crude oil prices have dropped lower than nearly anyone imagined. Both corporations […]

Remember how in November 2014, Halliburton and Baker Hughes announced they were merging? The nation’s second and third largest oilfield service companies coming together to the tune of $34.6 billion.

Then…nothing. The merger hasn’t happened yet.

In the more than 14 months since, crude oil prices have dropped lower than nearly anyone imagined. Both corporations have cut their work forces. European Union regulators and the U.S. Justice Department have launched reviews to determine if the proposed merger would pass anti-trust muster. And for now, the Houston-based companies remain separate, leading some to wonder if the merger will ever actually happen.

We discuss the possible future of the merger and what it could mean for Greater Houston and the energy industry. We talk it over with Loren Steffy, managing director for 30 Point Strategies, a writer-at-large for Texas Monthly, and a columnist for EnergyVoice.com.

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