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Halliburton to cut 5,000 more jobs

Halliburton to cut 5,000 more jobs

Oilfield services company Halliburton will eliminate 5,000 more jobs – about 8 percent of its global workforce. Ongoing market conditions led to the decision, according to a statement by Halliburton. As oil prices hover near $30 per barrel, producers struggle to remain viable. Benchmark U.S. crude sold for $33.07 on Thursday. “We regret having to make this decision but unfortunately ...

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Spate of energy industry layoffs sweeps workforce

And oil and gas worker walks along a corridor. (Image courtesy of Encana Corp)

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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Halliburton lays off employees in Duncan

DUNCAN — Several former employees of Halliburton showed up to the Duncan branch of Oklahoma Employment Security Commission Thursday claiming the company had laid them off. OESC Center Manager Chris Moore said as of 10:45 a.m. Thursday about 30 people who said they were laid off from Halliburton had filed paperwork at his office. “There were already several people waiting ...

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Australia flags concerns on $35 bln Halliburton bid for Baker Hughes

MELBOURNE – Australia’s antitrust regulator raised concerns on Friday about Halliburton Co’s proposed $35 billion buyout of rival Baker Hughes Inc , in another setback for a deal that has already hit competition snarls in the United States. Delaying its final ruling for a third time, the Australian Competition and Consumer Commision (ACCC) said joining the world’s No. 2 and ...

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Baker Hughes expects less drilling in 4th qtr

Oilfield services provider Baker Hughes Inc said it expects less drilling in the current quarter due to reduced customer spending but said it was seeing “stronger interest” in services that help increase oil and gas production. Baker Hughes, which is being acquired by larger rival Halliburton Inc, reported a net loss attributable to the company of $159 million, or 36 ...

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Halliburton reports 3Q loss

HOUSTON — Halliburton Co. (HAL) on Monday reported a third-quarter loss of $54 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Houston-based company said it had a loss of 6 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 31 cents per share. The results ...

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Top 5 Bakken stories of the week

In case you missed them, here are the top headlines from Bakken.com for the week of September 19th through the 25th. Enjoy! 5. Oil services firms face end-2016 order vacuum as clients axe projects LONDON – Peter Rose’s problem of uncertainty is typical for the oil and gas services industry at the moment. New orders have dried up and he ...

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Halliburton lays off Williston workers; how many not known

drilling

WILLISTON, N.D. (AP) — Houston-based oil field services company Halliburton has laid off some of its workers in the western North Dakota oil patch hub of Williston, though the company isn’t providing details. Halliburton in April suspended operations at its facility in Minot and transferred many of the jobs there to locations in Williston and Dickinson, citing “changing business needs ...

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