Baker Hughes

Updated Dec. 5, 2023 5:25 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according…

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A number of finance chiefs at some of the country’s biggest companies have left their jobs in recent weeks, an exodus that comes amid the pressures that high inflation and the Covid-19 pandemic have had on corporate balance sheets and the economic outlook.Fall is often a period of heightened CFO turnover, because this is when companies tend to launch searches to bring in new finance executives for the early part of the next year, recruiters said. This time around, however, recruiters are seeing more churn than usual among…

Dozens of small drillers helped fuel a resurgence in the busiest U.S. oil patch over the past two years. But they tapped many of their best drilling spots, and will have to ease their rapid pace of drilling as their inventory shrinks, analysts and executives say.Private oil companies in the Permian Basin of West Texas and New Mexico emerged from the pandemic-induced oil downturn last year as a growth engine for U.S. shale, now running almost half of the working drilling rigs there, up from a quarter before the pandemic.…

Baker Hughes said much of its wider quarterly loss was the result of suspending operations in Russia. Photo: ali haider/Shutterstock…

New Environmental Protection Agency rules promise to give a significant boost to what is becoming known as the methane mitigation industry. The EPA rules are expected to be finalized within the next year and would affect hundreds of thousands of wells, storage tanks and natural-gas processing plants. They could require companies to replace leaky, older equipment and buy new monitoring tools to sharply reduce emissions of methane, a planet-warming gas that traps more heat than carbon dioxide. The proposed…