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Baker Hughes Focus of DOJ Antitrust Investigation
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Oilfield services company Baker Hughes has become the focus of an antitrust investigation by the U.S. Department of Justice (DOJ).
The company received a Civil Investigation Demand from the DOJ, which is specifically seeking information about the company's pressure pumping sector from the year spanning from May 29, 2011 through May 30, 2013.
In its most recent filing with the Securities and Exchange Commission, Baker Hughes commented: "We are working with the DOJ to provide the requested documents and information. We are not able to predict what action, if any, might be taken in the future by the DOJ or other governmental authorities as a result of the investigation."
Most recently, Baker Hughes reported improved results for its pressure pumping sector, which had been experiencing a lull due to an oversaturated market.
The company's fracing fleet is the third largest in the industry, behind Schlumberger and Halliburton.