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Despite 2Q Loss, Halliburton Predicts Near-Term Drilling Resurgence
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Halliburton Company reported results for the second quarter of 2016.
Key Points: Chairman & CEO Lesar notes: "We believe the North America market has turned. We expect to see a modest uptick in rig count during the second half of the year." North America revenue in the second quarter of 2016 was $1.5 billion, a 15% decrease sequentially, relative to a 23% decline in average U.S. rig count.Dave Lesar, Chairman and CEO, commented: "Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the globe.
"North America revenue declined 15% sequentially, significantly outperforming the average US rig count, which was down 23%. After falling 78% from the November 2014 peak, the US rig count…
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