General Electric is betting big on oil and gas.
The company announced Monday that it will merge its oil and gas business into Baker Hughes, a major player in the oilfield services industry.
Oilfield services firms help companies that produce oil and gas, providing technology and tools that explore and drill.
All oil-related businesses have been hurt in the past two years by the plunge in energy prices, but oilfield services has been particularly slammed. As prices dropped, companies cut back on the exploration and drilling of new wells.
