The slowdown in North American oil and gas activity hit both Schlumberger and Halliburton in the third quarter, with each contractor outlining their plans to adjust to reductions in operator activity.
Schlumberger posted a massive series of impairment charges totalling $12.62 billion for the three months to September, posting a net loss of $11.38 billion compared to a profit of $644 million in the same period last year.
