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Tag Archives: Halliburton

Halliburton posts 4Q loss, drop in revenue amid oil slump

HOUSTON — Hurt by falling oil prices, Halliburton reported a loss for its fourth quarter and said its revenue dropped 42 percent from a year ago. Houston-based Halliburton provides drilling services to oil and gas operators, which have been cutting their spending due to falling oil prices and demand. The company reported a loss of $28 million, or 3 cents ...

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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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The Latest: No Halliburton crews at Pampa site during storm

DALLAS — The latest on severe weather in parts of Texas (all times local): 7:50 a.m. Halliburton officials say no employees were at a chemical facility in the Texas Panhandle when the site was hit by a tornado. The National Weather Service says at least five tornadoes touched down in the area Monday night. A statement Tuesday says Halliburton’s district ...

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Sub-$50: When ‘fracking does not work’

The downturn shows no signs of reversing for the oilfield services industry, and now these businesses that represent some of the top private employers in Odessa face a deepening pain, particularly those that frack wells. Today, about half of the fracking companies who were bidding on new work in the Permian Basin at this time last year continue to do ...

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Halliburton lays off employees in Duncan

DUNCAN — Several former employees of Halliburton showed up to the Duncan branch of Oklahoma Employment Security Commission Thursday claiming the company had laid them off. OESC Center Manager Chris Moore said as of 10:45 a.m. Thursday about 30 people who said they were laid off from Halliburton had filed paperwork at his office. “There were already several people waiting ...

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Australia flags concerns on $35 bln Halliburton bid for Baker Hughes

MELBOURNE – Australia’s antitrust regulator raised concerns on Friday about Halliburton Co’s proposed $35 billion buyout of rival Baker Hughes Inc , in another setback for a deal that has already hit competition snarls in the United States. Delaying its final ruling for a third time, the Australian Competition and Consumer Commision (ACCC) said joining the world’s No. 2 and ...

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Halliburton reports 3Q loss

HOUSTON — Halliburton Co. (HAL) on Monday reported a third-quarter loss of $54 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Houston-based company said it had a loss of 6 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 31 cents per share. The results ...

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Schlumberger to cut more jobs, sees recovery pushed to 2017

Schlumberger Ltd, the world’s No.1 oilfield services provider, said it would cut more jobs and consolidate its manufacturing and distribution network as it did not expect a recovery in demand before 2017. The company’s shares fell as much as 4.6 percent to $72.63 in late-morning trading. Rivals Halliburton Inc and Baker Hughes Inc were also down about 4 percent. “The ...

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U.S. industrial output falls for second straight month

WASHINGTON – U.S. industrial production fell for a second straight month in September on renewed weakness in oil and gas drilling, the latest indication that the economy lost momentum in the third quarter. Industrial output slipped 0.2 percent after a revised 0.1 percent dip in August, the Federal Reserve said on Friday. Economists polled by Reuters had forecast industrial production ...

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Halliburton, Baker Hughes plan more divestitures for deal approval

Sept 28 – Oil services provider Halliburton Co and Baker Hughes Inc will sell additional businesses in connection with Halliburton’s pending acquisition of its smaller rival, the companies said in a joint statement. Halliburton’s proposed acquisition of Baker Hughes ran into regulatory hurdles with the U.S. antitrust enforcers who believe the $35 billion merger will lead to higher prices and ...

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