The UK’s competition watchdog has cleared Baker Hughes’ bid to acquire wells specialist Altus Intervention following the sale of a key division, nearly a year after the deal was announced.
The UK’s competition regulator says Baker Hughes’ proposed sale of coiled tubing and pumping assets may be enough to clear its concerns over the acquisition of rival Altus Intervention.
Baker Hughes' (NASDAQ: BKR) takeover of Altus Intervention could lead to “higher prices, reduced choice and lower quality services” in the UK oil and gas sector, competition authorities have warned.
The UK’s Competition and Markets Authority (CMA) is to examine whether Baker Hughes’ acquisition of wells services firm Altus Intervention meets merger regulations.
Following a tumultuous two years since the first Covid-19 lockdown in the UK, the now much-changed energy sector remains an attractive proposition for both global investors and trade players. Many of these are looking to get ahead of the curve of the much publicised transition to sustainable energy sources.
Oilfield services giant Baker Hughes has signed a deal to acquire wells specialist Altus Intervention.
Equinor has awarded framework contracts to Altus Intervention and Archer for a range of wireline services on its platforms offshore Norway.
Well services firm Altus Intervention UK has installed a new training simulator at its base in Portlethen, near Aberdeen.
BiSN, in conjunction with AkerBP and Altus Intervention, has managed to deploy the largest-ever well plug made from the chemical element bismuth.
The UK’s weak pound has blown a £2.1 million hole in the balance sheet of north-east company Altus Intervention Limited (AIL).
A former oil executive has been ordered to pay nearly £600,000 to the firm she embezzled out of more than £1.3million.
ALTUS Intervention has landed a 10 year deal with Statoil.