Schlumberger buys out BHI stake in WesternGeco. (01-JUN-06) Oil and Gas Investor

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Schlumberger buys out BHI stake in WesternGeco.(Schlumberger Ltd acquired Hughes Inc)(Brief article)

Publication: Oil and Gas Investor

Publication Date: 01-JUN-06

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Schlumberger Ltd., New York, (NYSE: SLB) has completed the acquisition of the 30% interest in the seismic joint venture WesternGeco from its partner Baker Hughes Inc., Houston, (NYSE: BHI; EBS) for $2.4 billion in cash.

Baker Hughes expects to record a pretax gain of approximately $1.74 billion (approximately $1.05...

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