BUZZ-Oilfield service providers: Schlumberger pushes demand recovery to 2017

Fri Oct 16, 2015 10:56am EDT
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** Oilfield services and equipment providers' U.S.-listed down 4-8 pct after Schlumberger Ltd says it expects demand recovery to be pushed to 2017

** Schlumberger, the world's No.1 oilfield services provider, said it proceed with another round of cuts to capacity and overheads amid weak demand due to lower oil prices

** Schlumberger's shares down 3.7 pct at $73.36

** Helmerich & Payne Inc down 4.2 pct, Baker Hughes Inc down 4 pct, Halliburton Co down 4 pct, National-Oilwell Varco Inc down 2 pct

** WeatherFord International Plc down 5.6 pct, Nabors Industries Ltd down 5.9 pct, Precision Drilling Corp down 5.9 pct, Patterson-UTI Energy Inc down 6.8 pct, Basic Energy Services Inc down 8.4 pct