BUZZ-Oilfield service providers: Halliburton's forecast drags on sector

Mon Oct 19, 2015 11:48am EDT
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** Halliburton Co, the No.2 oilfield services provider, a "challenging and difficult to predict" Q4, dragging down the sector

** Halliburton posts 36 pct slump in Q3 revenue and says drilling activity will fall substantially in last 5 weeks of 2015

** Oil & gas producers have curtailed drilling and slashed capex as crude prices slump, hurting oilfield services providers

** Industry leader Schlumberger said on Friday it did not expect a recovery in demand before 2017

** Stocks also hit by falling crude prices on Monday: Brent crude oil down 3.2 pct and U.S. crude off 2.3 pct

** Halliburton down 2 pct at $37.14; acquisition target Baker Hughes down 1.3 pct

** Schlumberger down 0.6 pct, Nabors Industries down 4.3 pct, Basic Energy Services Inc down 2.8 pct

** Seventy Seven Energy off 4.9 pct, Superior Energy Services 2.7 pct, Key Energy Services 4.4 pct

** Canadian companies also hit: Precision Drilling Corp down 2.5 pct, Ensign Energy 3.6 pct and Trinidad Drilling 4.2 pct