Halliburton Takes Big Financial Hit

Halliburton logo

CBJ — Halliburton has had to absorb a $2.2 billion charge to earnings due to weakening North American shale activity.

The U.S. oilfield services firm will also reduce capital spending by 20% this year, to $1.2 billion.

Halliburton’s North American revenue fell by more than 30% to $2.3 billion while total revenue was down 13% to just under $5.2 billion.

@CanBizJournal

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