Current HAL Stock Info

Oilservice majors Halliburton and Baker Hughes shareholders approve merger

Halliburton (ticker: HAL) announced that its stockholders approved HAL’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes (ticker: BHI). Baker Hughes announced that its stockholders adopted the merger agreement and thereby approved the proposed combination of the two companies, according to a Halliburton press release.

Nearly 99% of Halliburton shares voted in favor of issuing HAL shares, while 98% of BHI shares voted in favor of the transaction, representing more than 75% of all outstanding shares in Baker Hughes.

“We are extremely pleased Halliburton and Baker Hughes stockholders have shown overwhelming support by approving the pending transaction,” said Dave Lesar, Chairman and Chief Executive Officer of Halliburton. “We are more confident than ever that this combination will create a stronger, more diverse organization with an unsurpassed depth and breadth of services.”

The close of the transaction is expected to occur late in the second half of 2015, and remains subject to regulatory approvals, as well as other customary closing conditions. The companies plan to seek out buyers for as much as $10 billion in assets in order to avoid antitrust concerns and complete their merger, sources familiar with the matter told Bloomberg.

Schlumberger and Chevron sign software collaboration agreement

Schlumberger (ticker: SLB) announced today the signing of a long-term software contract with Chevron Energy Technology Company (ETC), a division of Chevron (ticker: CVX). The new contract provides universal access to the Petrel E&P software platform across Chevron’s entire earth sciences organization, according to the press release.

In addition to the Petrel software, the contract includes a number of other software in the geological, geophysical and reservoir evaluation domains, including wellbore software, well and reservoir analysis software and an E&P data management and delivery system.

Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.

Legal Notice