Oil Service Companies

Posted on July 24, 2009 by Vorys

The WSJ has an interesting article on earnings and share prices of oil services companies.  It notes, for example, that prices for resource extraction are down 58% in June from a year ago.  (Note:  Subscription required.)

[Update:  In a related article, the NYT is reporting that the oil field services company Halliburton said that its 2nd quarter profit declined by 48%, to $0.29 per share.  Its chairman and CEO stated that he believes it is unlikely that there will be a meaningful recovery by year end due to a continued weakness in natural gas demand.]

[Update:  In yet another article, the Houston Chronicle is reporting that Schlumberger Ltd.'s second-quarter earnings are down 57%. (Moved up.)]

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