Largest supplier of oil equipment to U.S. drillers is set to be hit particularly hard by a downturn in the American oil patch
Halliburton Co. is cutting $1 billion in costs and reducing its debt to gird itself against a stunning drop in investment throughout the U.S. oil patch.
Halliburton, the world’s second-largest oil-field services company and largest supplier of U.S. oil-equipment, could get hit particularly hard by a sweeping oil-patch downturn in shale plays such as the Permian Basin of West Texas and the Bakken Shale of North Dakota.
