Halliburton reportedly in talks to buy Baker Hughes

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Chris Curry

Dave Lesar, CEO of Halliburton. Both Halliburton and Baker Hughes declined to comment on the reports.

Olivia Pulsinelli

Web producer- Houston Business Journal

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Two of Houston's biggest energy companies could merge, according to reports.

People familiar with the matter told The Wall Street Journal that Halliburton Co. (NYSE: HAL) is in discussions to buy Baker Hughes Inc. (NYSE: BHI).

Although the value of a potential deal is unknown, it likely would be more than Baker Hughes' market capitalization, which was $21.6 billion as of the afternoon of Nov. 13, the WSJ reports.

Both Halliburton and Baker Hughes declined to comment to the Houston Business Journal.

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A source familiar with the matter told the Financial Times it was not certain that a deal would be reached.

The Financial Times also notes that any such deal likely would draw significant regulatory scrutiny, as Halliburton and Baker Hughes are two of the largest oilfield services companies.

Halliburton is the Houston area's seventh-largest public company, and Baker Hughes is the ninth, based on their respective 2013 revenues of $29.4 billion and $22.36 billion, according to HBJ research.

In October, Baker Hughes made headlines by sending out pink drill bits as part of a partnership with the Dallas-based Susan G. Komen Foundation.

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Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website. Follow her on Twitter for more.