The highly controversial practice of hydraulic fracturing, also called “fracking,” has been hit with new problems as the US Department of Justice announced an investigation into the market for pressure pumping services, used in the fracking process. According to the head of the nation’s third-largest pressure pumping conglomerate Baker Hughes Inc., the DOJ has opened an investigation into the market and informed the company that it is seeking documentation from the time between May 29, 2011 through May 30, 2013. Halliburton also confirmed it is part of the investigation. Specific details of the investigation were not disclosed. Reports say the pressure pumping equipment sector has been “oversupplied” for some time following the industry’s expansion in 2011 to ramp up fracking throughout the nation.
Full Content: Chicago Tribune
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.