Low gas prices to stick around, Halliburton to buy Baker Hughes, Pioneer sells Eagle Ford Assets
The lower prices you’re saving on gas now are expected to continue. Prices at the pump are expected to stay below $3 a gallon through all of 2015. That will add up to billions in savings for Americans. Texas’ average price for regular unleaded is $2.73 a gallon, down 2 cents over the last week, and in San Antonio, gas averages $2.71, down 5 cents. Read more:
Halliburton Co (HAL.N) will buy Baker Hughes Inc (BHI.N) for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger as falling oil prices threaten to erode demand. The merger is widely expected to raise anti-trust concerns and Baker Hughes shares, at $68.80 on Monday, were trading well short of the offer of $80.69 per share, based on Friday’s close. Read More:
Oil prices push Pioneer out of Eagle Ford Shale assets. Pioneer Natural Resources has made the decision to sell off a pipeline in the Eagle Ford Shale in order to continue operating efforts in the Permian Basin. Dallas Business Journal reported that Pioneer CEO Scott Sheffield made the announcement during a conference call with investors. In addition to the pipeline, the company will also offer up $1 billion in stocks. Read More:
This has been Randy Watson of the No Bull Radio Network for the Eagle Ford Minute.