The mega-mergers by the two largest U.S.-based producers – and rumors of more tie-ups to come – are positive for business and demonstrate the value of natural gas and oil long term, Halliburton Co. CEO Jeff Miller said Tuesday.

Miller held a conference call to discuss third quarter results for the Houston-based oilfield services (OFS) giant. He also shared his insight into how consolidation in the exploration and production (E&P) sector may impact business.

ExxonMobil agreed earlier this month to pay almost $60 billion to acquire Permian Basin pure-play Pioneer Natural Resources Co. On Monday, Chevron Corp. said it would pay about $53 billion to buy U.S. independent Hess Corp. Rumors of more E&P tie-ups also are said to be in the works.

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