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Tag Archives: Dave Lesar

Energy explorers Halliburton and Baker Hughes abandon merger

WASHINGTON (AP) — Two companies crucial to the business of U.S. energy exploration, Halliburton and Baker Hughes, have abandoned their planned merger in the face of opposition by regulators who said it would hurt competition. Prospects for the merger, which was valued at nearly $35 billion when it was announced in 2014, seemed especially bleak after the Justice Department sued ...

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Weatherford announces cuts to workforce

Weatherford executives on Thursday announced plans to further cut costs and lay off another 1,000 employees after shedding 10,000 workers earlier this year. The company will also close 30 more facilities this year in addition to 60 closed across North America in the first half of 2015. Weatherford officials did not specify the regions where those cuts would happen, leaving ...

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Halliburton reports 1Q loss on costs tied to oil price slump

HOUSTON — Halliburton reported a $643 million loss for its first quarter, as the oilfield services provider continued to adjust to slumping energy prices that have forced layoffs and other cutbacks at companies across the sector. The Houston-based company said Monday that it booked about $823 million in after-tax charges during the quarter tied to asset write-offs, severance costs and ...

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Halliburton, Baker Hughes shareholders overwhelmingly approve merger

Halliburton, Baker Hughes

Halliburton shareholders have overwhelmingly approved the company’s long-awaited merger with Baker Hughes, the Digital Journal reports. Baker Hughes also announced on Friday that its stockholders adopted the merger agreement, thereby approving the merger. Each company held their own special meetings Friday morning. Nearly 99 percent of the shareholders at Halliburton’s special meeting voted in favor of the proposal to issue ...

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Halliburton announces who will take over leadership positions

Halliburton

Halliburton has announced a new appointee to the company’s board of directors as well as who will become the new executive vice president and chief integration officer. On December 4, the company announced that Mark MCollum will be the new executive vice president and chief integration officer.  Then, on December 5, Abdulaziz F. Al Khayyal was appointed to the company’s ...

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Halliburton buying Baker Hughes in $34.6B deal

NEW YORK — In a deal that shows just how quickly falling prices can upend the energy industry, Halliburton is buying rival oilfield services company Baker Hughes in a cash-and-stock deal worth $34.6 billion. Global oil prices have tumbled 31 percent over the past 5 months to levels not seen in four years. That has forced the industry cut costs ...

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Halliburton names its new president

halliburton

Zach Koppang | Shale Plays Media The Houston Business Journal reports that Halliburton has promoted its current vice president and chief operating officer Jeff Miller to the position of president. The company believes that the move will complement the leadership of its current chief executive officer and chairman Dave Lesar. In a press release, Lesar commented: “I have known and ...

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