Home / Tag Archives: merger

Tag Archives: merger

After one merger called off in energy sector, another arises

energy sector, merger

NEW YORK (AP) — FMC Technologies will attempt a merger with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy sector. The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would have more than 49,000 employees operating in 45 countries. FMC ...

Read More »

Shell reports 44 percent drop in 4Q earnings

Shell reports 44 percent drop in 4th quarter earnings

LONDON — Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on another European oil company. Profit adjusted for changes in the value of inventories and one-time items dropped to $1.83 billion from $3.26 billion in the same period a year earlier, the Anglo-Dutch energy giant said Thursday. The results came ...

Read More »

Shell shareholders approve deal to buy UK rival BG

Shell shareholders approve deal to buy UK rival BG

LONDON (AP) — Royal Dutch Shell shareholders have overwhelmingly backed the 34 billion pound ($49 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80 percent of shareholders approved the move on Wednesday. The deal will boost Shell’s oil and gas reserves by ...

Read More »

Shell expects 4th Q profits to drop at least 40 percent

Shell shareholders approve deal to buy UK rival BG

LONDON — Royal Dutch Shell expects its fourth quarter profits to drop at least 40 percent to between $1.6 billion and $1.9 billion after a sharp drop in crude oil prices, but underscored its determination to press ahead with the proposed mega-merger with BG Group plc. The Anglo-Dutch energy giant said Wednesday it released the figures for shareholders ahead of ...

Read More »

Shell says it can make BG deal work despite weak oil price

Shell branding is seen at a petrol station in west London, January 29, 2015.  REUTERS/Toby Melville

LONDON – Royal Dutch Shell sought to ease investor concerns over its planned $70 billion takeover of BG Group, announcing plans for further benefits and cost cuts aimed at making the deal work with an oil price in the mid-$60s a barrel. The Anglo-Dutch group, which hopes to complete the deal early next year, said it now expected synergies to ...

Read More »

Halliburton, Baker Hughes plan more divestitures for deal approval

The company logo of Halliburton oilfield services corporate offices is seen in Houston, Texas April 6, 2012. REUTERS/Richard Carson

Sept 28 – Oil services provider Halliburton Co and Baker Hughes Inc will sell additional businesses in connection with Halliburton’s pending acquisition of its smaller rival, the companies said in a joint statement. Halliburton’s proposed acquisition of Baker Hughes ran into regulatory hurdles with the U.S. antitrust enforcers who believe the $35 billion merger will lead to higher prices and ...

Read More »

Baker Hughes CEO: “Halliburton is still our competition”

Image via Flickr

The pending $34.6 billion merger between oil giants Baker Hughes and Halliburton now has a date set for its special meeting in which the shareholders will vote to approve or disapprove the monumental merger. The date for that meeting is set for March 27 at 9 a.m., according to the Houston Business Journal. The proposed merger was first announced in ...

Read More »

Multi-billion dollar merger awaits European Commission approval

The Siemens logo is seen during the IFA Electronics show in Berlin September 4, 2014.  REUTERS/Hannibal Hanschke

Siemens’ $7.6 billion deal to acquire Houston-based Dresser-Rand Group, which was announced in September 2014, is not going as smoothly as expected. Siemens, a German industrial company, is having difficulty receiving approval from the European Commission, the European Union’s executive body. According to the Houston Business Journal, the European Commission said it has opened an in-depth investigation to assess whether ...

Read More »

Halliburton comments on last year’s earnings, 2015’s challenges

The company logo of Halliburton oilfield services corporate offices is seen in Houston, Texas in this April 6, 2012 file photo. Halliburton Co said October 17, 2012 that its third-quarter profit fell due to inflated raw material costs and a slowdown in U.S. drilling, which showed no signs of picking up as many clients' budgets for the year were already spent.   REUTERS/Richard Carson/Files    (UNITED STATES - Tags: BUSINESS LOGO ENERGY)

Halliburton recently released its fourth quarter earnings report for 2014 and reported total revenues of $8.8 billion compared to the previous quarter’s $8.7 billion, according to The Bakken Magazine. For both the third and fourth quarters of 2014, the company’s adjusted operating income was $1.4 billion. For the third quarter, the operating income was $1.6 billion. For the fourth quarter, ...

Read More »

Whiting Petroleum finalizes deal

Getty Images via Newscred

Whiting Petroleum Corp. has officially finalized its all-stock deal to purchase Kodiak Oil & Gas Corp., according to the Denver Business Journal. The merger was first announced on July 13 of this year with shareholders officially approving the merger last week.  The merger will make Whiting Petroleum the largest crude-oil producer in the Bakken shale region of the northern Great ...

Read More »