Drilling Slump Batters Halliburton's Profit

[Are_grits_groceries]

Halliburton Co. reported a 35% drop in first-quarter earnings as a sharp decline in U.S. drilling activity showed no sign of reversing.

The decline in oil and natural-gas drilling in North America has been faster than most in the industry predicted last fall. There were 975 drilling rigs operating in the U.S. as of Friday, less than half the number running in September, according to oil-field services firm Baker Hughes Inc. It was the first time the rig count had dropped below 1,000 since 2003.

Producers have cut back their drilling due to low oil and gas prices.

http://online.wsj.com/article/SB124022533490234591.html#mod=rss_whats_news_us

Yay!!

[ellie]

1. Here

is the world's smallest violin, feeling Halliburton's pain. :nopity:

[hobbit709]

2. Ain't that just too bad?

[walkaway]

3. Could this be the reason Cheney is bleating his garbage out in the open

every day? I can't believe he does anything unless it's for the family business. Just wondering.

[KansDem]

4. Halliburton? Halliburton? Oh, yeah, I remember now! It moved its world HQs to Dubai!

You know, the UAE? The country from which two 9/11 attackers came? That Halliburton!

[FSogol]

5. So, the real reason behind "Drill Baby, Drill?" n/t

[xiamiam]

6. halliburtons profit soared with no bid contracts..orchestrated by darth...they made billions..nt

[Name removed]

7. Deleted sub-thread

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