The two companies, industry leaders in oil services, had looked several times at the possibility of merging but had been unable to make a deal.

Halliburton differs from many oil services companies in that it also does significant business with the federal government.

American companies view Mexico as a potential market for oil services worth billions of dollars.

"The fundamentals are fine" in oil services, he said.

The recent trades in oil services are a good example.

Besides the broadcast properties, the company now has interests in oil services, land and a music retailer.

The outlook stems from the history of oil services over the last 15 years.

Even an "oil service" costs $125, but that includes checking the car from top to bottom.

Camco, based in Houston, will operate as a division of the leading oil services company.

Recently, such diverse but humdrum groups as tobacco, oil services and financial services have been pulling ahead.