Oilfield Service Consolidation

By Catherine Madden – September 4, 2009
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Baker Hughes announced on Monday, August 31 that they would purchase BJ Services Co. in a cash-and-stock deal valued at $5.5 billion. Baker Hughes announcement is not necessarily a surprise, although a deal of this size seemed unlikely. As the price of oil continued to fall in 2008, there was much speculation about what companies would be snapped up on the cheap. For Baker Hughes, this merger should provide increased international exposure, as well as long-term positioning for the future with access to tech

 

About the author

Catherine Madden

Senior Research AnalystIDC Energy Insights

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Offline Anil Pande said 8 years ago

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