Halliburton further cut its 2015 capital budget by $200 million to $2.4 billion amid low oil prices.
The takeover marks the first major buyout of a midstream company since oil prices crashed.
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Firm said area could hold as much as 30T cubic feet of gas, or 5.5B barrels of oil equivalent.
Schlumberger said the combined company would have had pro-forma revenue of $59 billion in 2014.
The sale comes as sharply lower oil prices weigh heavily on companies in Canada’s oil patch.
The combined company will be the second-largest utility in the U.S. with a customer base of around 9 million.
The companies failed to provide sufficient data, so the merger review will resume following compliance.
Oil prices are under pressure, driven by a glut of oil in the United States and on world markets.
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