Halliburton, Schlumberger Execs Gauge Oil, Gas Outlook with Bottom Set for US Rigs

摘要

For the week ending July 22, 2016, active land drilling across US totaled 443 rigs. The significance of the continued rebound in the rig count from a recent low set in May has not been lost on oilfield service operators. In fact two of the industry's bellwethers that both recently reported their financial results, Halliburton and Schlumberger, opined on their conference calls that US oil and gas activities had bottomed during 2Q16. Furthermore, both hold out a prognosis for continued recovery over the back half of 2016.