The Department of Justice initiated anti-trust
investigations of Haliburton and Baker Hughes because of possible
anti-competitive practices. DOJ spokeswoman, Gina Talamona, confirmed the
investigation in a statement on July 25, 2013. Both Baker Hughes and Haliburton
are cooperating with the investigation, but not specifying what information is
being requested by the DOJ. According to an article by Reuters Baker Hughes was
asked to turn over documents and records for the two years prior to May 30,
including records from 2011.
Recently, according to news sources, an increasing number of
hydraulic fracturing equipment suppliers caused prices in the equipment market
to decline substantially. In 2011, however, pumping capacity in North America
increased by fifty percent, and Haliburton, Baker Hughes and Schlumberger
controlled a large portion of the market.
For more information on the investigation, follow the
coverage by Reuters,
Bloomberg
and the Wall
Street Journal online.
Written by: Garrett Lent, Research Assistant
Agricultural Law Resource and Reference Center
July 2013
Recently, according to news sources, an increasing number of hydraulic fracturing equipment suppliers caused prices in the equipment market to decline substantially. employment lawyer Glasgow
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