Oilfield services provider Halliburton Co <HAL.N> reported a 93 percent fall in quarterly profit as oil producers pummeled by a steep decline in oil prices cut drilling activity, and the company incurred about $400 million in charges.
Net profit fell to $53 million, or 6 cents per share, in the second quarter ended June 30 from $775 million, or 91 cents per share, a year earlier.
Revenue fell 26.5 percent to $5.92 billion.
Halliburton’s $35-billion takeover of fellow oilfield services company Baker Hughes Inc <BHI.N> is now expected to close by Dec. 1, after the two companies agreed with the U.S. Department of Justice on July 10 to extend the date of the review.
(Corrects paragraph 2 to change to “net profit” from ‘profit attributable to Halliburton’)
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