Bloomberg Law
Oct. 19, 2020, 2:10 PM

World’s Biggest Fracker Sees Signs of Rebirth as Slump Ebbs (2)

David Wethe
David Wethe
Bloomberg News

Halliburton Co. expects the rout in North American shale to peter out after history’s worst crude crash decimated many of its customers.

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.

In an illustration of how deeply Halliburton has cut to cope with the crisis, executives revealed Monday that half the company’s North American workforce has been eliminated in the past year. ...