(Source: SpotLight Earth)
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Baker Hughes Says Energy Downturn to Bottom out This Year
Oilfield equipment and services provider Baker Hughes Co. on Jan. 21 joined larger rival Halliburton Co in saying the energy industry’s worst downturn in decades would turn a corner this year.
Schlumberger Echoes Rivals’ Oil Recovery Predictions after Results Beat
Schlumberger NV on Jan. 22 joined rivals in predicting a steady recovery in the oil industry this year after the worl’'s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing drilling demand.
Halliburton Profit Beats Estimates on Cost Cuts, Demand Recovery
Halliburton Co. posted a better-than-expected fourth-quarter profit on Jan. 19, buoyed by cost cuts and a recovery in demand for oilfield equipment and services after last year’s industry slump.