Oilfield services firms Schlumberger, Halliburton, Baker Hughes and Weatherford continue to see their bottom line whacked by lower oil prices and the resultant cuts to international oil companies’ capital spending.
Each has seen its revenue drop every quarter since the turn of the year. But the Middle East, where investment by state oil firms has largely held up, has been one bright spot. The four firms overall saw the share of their revenue coming from the Middle East and Asia rise from around 20% in Q4 2014 to around 25% for Q3 2015. (CONTINUED - 815 WORDS)