Friday, April 10, 2015

Baker Hughes suspends well count reports amid cost cuts, Wall Street Journal reports | NOLA.com

Baker Hughes suspends well count reports amid cost cuts, Wall Street Journal reports | NOLA.com: "Baker Hughes has suspended publishing its quarterly report of U.S. onshore well counts in an effort to cut costs amid low oil prices, The Wall Street Journal reports. The report says Baker Hughes will continue to publish its more closely-watched weekly reports of North American and international rig counts. Baker Hughes agreed in November to be acquired by competitor Halliburton for $35 billion, a deal intended to help both companies better weather the oil downturn, the report says. Baker Hughes told investors earlier this year it would cut 7,000 jobs from its worldwide workforce, the report says."

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