HOUSTON – Two of Houston's biggest energy companies could soon become one, and that could have an effect on thousands of workers.
Both Halliburton and Baker Hughes are oilfield service companies, and this potential deal is to help both companies weather falling oil prices.
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The two companies currently help oil companies by selling equipment, renting tools or supplying labor, so falling prices make oil production less profitable.
Their businesses are threatened if their clients cut production or demand better prices from them.
A merger is an effort to save costs.
The Wall Street Journal reports that a deal could be forged soon.
But even if the companies agree, it still has to win approval from regulators.
Halliburton and Baker Hughes are the second- and third-largest oilfield services companies in the world.