Oil prices have collapsed more than 60% since January to levels well below the costs necessary for many shale drillers to break-even, leading to drilling halts and drastic spending cuts by producers that has hurt demand for services offered by Halliburton and rivals Schlumberger and Baker Hughes . “We expect activity in North America land to sharply decline during the second quarter and remain depressed through year-end, impacting all basins,” Halliburton’s Chief Executive Officer Jeff Miller said in a statement. …read more
Source:: Yahoo Finance
