Monday, February 22, 2010

Keeping Up With the Bakers

I was interested to see that international energy services giant Schlumberger made a deal to buy Smith International for $11 billion this weekend.  A deal like this seemed inevitable after the Baker Hughes deal to buy BJ Services last year, as both BJ Services and Smith are big players in the domestic shale business. 

As activity in the U.S. shale patch continues to increase, both in terms of greater drilling activity and increased involvement of major production companies, the big boys on the services side are being drawn in like moths to a flame. 

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