Sunday, January 23, 2022
50.5 F
Fort Worth

Halliburton to market business units amid pending Baker Hughes deal

🕐 1 min read

Halliburton Co. has announced plans to separately market its fixed cutter and roller cone drill bits, directional drilling and logging-while-drilling measurement-while-drilling businesses.

The final sale will not be completed until the Houston-based firm has reached what it called acceptable terms and conditions negotiated by the company, approval of Halliburton’s board of directors and final approvals of the Baker Hughes acquisition by competition authorities.

“Thanks to employees’ hard work, these businesses represent strong products and services in the oilfield services industry, and we believe the value inherent in these businesses will be recognized by prospective buyers,” said chairman and CEO Dave Lesar in a news release.

“Although we would prefer to retain these assets, we will be required to divest some of our overlapping businesses to obtain competition authorities’ approvals as anticipated when we announced the Halliburton-Baker Hughes transaction,” Lesar said.

Halliburton will operate as one company, including the businesses held for sale, until the sale of the aforementioned businesses is complete.

Halliburton expects to complete the sale of the businesses in the same timeframe as the closing of the pending Baker Hughes acquisition late in the second half of 2015.

Halliburton provides products and services to the energy industry. Its more than 75,000 employees serve the upstream oil and gas industry. More information is available at

Related Articles

Our Digital Sponsors

Latest Articles

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.