With an activity slowdown looming in the U.S. shale sector as E&Ps carry out plans to spend less, oilfield service providers see a pickup in pace offshore.

Top executives with Halliburton and Schlumberger pointed to improved offshore activity ahead while delivering outlooks and second-quarter 2019 performance updates.

“We’ve seen enough signs to anticipate future growth,” Halliburton CEO Jeff Miller said on an earnings call July 22. “In June, the year-over-year change in offshore rig count was up for 12th consecutive month and appears to be gaining momentum.”

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