Halliburton sees 8-10 ct EPS hit in 3rd qtr from Permian hitch

Oilfield services provider Halliburton Co expects moderating activity in the Permian Basin and a slower-than-expected ramp-up of new Middle East contracts to hurt third-quarter profit by 8 cents to 10 cents per share, its chief executive officer said on Wednesday. Pipeline bottlenecks, a tight labor market and inflation are slowing activity in the largest U.S. shale basin, CEO Jeff Miller said at a Barclays conference in New York. The slowdown threatens to undermine a recovery in the oilfield services sector, which was hit hard by the 2014 downturn in oil …read more

Source:: Yahoo Finance


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