Schlumberger and Cameron are due to exhibit at the GRC Annual Meeting & GEA Geothermal Energy Expo
Though Schlumberger’s position as the biggest oil field services firm in Houston will stay the same following its deal to acquire Cameron International, the corporate map of Houston’s biggest energy companies will look a lot different soon following the crude crash.
On Wednesday, Schlumberger said it would buy Cameron for $12.7 billion in one of the largest oil and gas industry deals of 2015.
Schlumberger had $48.6 billion in revenue in 2014, and will maintain its position as the biggest oil field services company in the world following Wednesday’s deal.
But the deal that emerged in Nov. 2014 that would merge Schlumberger’s next closest rivals, Halliburton and Baker Hughes, will create a much more competitive challenger in that sector. Halliburton earned $32.9 billion in revenue in 2014, and Baker Hughes had $24.6 billion.