Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers earlier this year.
The world’s biggest provider of fracking signaled that attrition among oilfield service companies is beginning to show results and, in North America at least, a bottom may have been reached, according to a statement on Monday. Overseas is another story, however, because orders there are still weak.
““The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Chief Executive Officer Jeff Miller said in the statement.
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