Shareholders from Halliburton and Baker Hughes recently gave overwhelming approval for a mega-merger that would combine the two companies in a deal estimated at $35 billion.
Once the merger is approved by antitrust regulators, the new entity will surpass Texas-based Schlumberger as the world’s largest oil drilling company. Officials announce that the deal that was initiated in November should close during the second half of 2015.
Combined, Halliburton and Baker Hughes employ almost 2000 workers in North Dakota, but have already begun strategic layoffs including a recent closure of a facility in Minot. State officials have predicted that 3,000 to 4,000 oilfield jobs will be cut due to low oil prices.
Related: Halliburton Closing Minot Facility
Read more at halliburton.com