Combined, the companies would have a presence in more than 50 companies with 7,000 employees.
Majority of the money for energy is still devoted to North American activity, especially the U.S. shales.
Oil’s price plunge presents opportunities for those able to identify well-managed companies, says NGP’s Bob Edwards.
Company’s stock has fallen 22% since it announced the Baker Hughes merger.
Overall, the upstream sector may cut as much as 20% of capex.
The analysts changed their 2015 to 2016 U.S. oilfield cash flow, activity and spending assumptions in calculating the price needed to balance oil markets.
Yet, analysts expect production to rise 7% during the year.
Workforce shortfalls generate concerns as plant construction goes forward.