Fracking Discounts Seen Cutting Over $3 Billion in Profits
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Oilfield contractors hired to drill wells and fracture rock to raise crude and natural gas to the surface will have to lower prices by as much as 20 percent to help keep their cash-strapped customers working.
Ultimately, that could carve out more than $3 billion from the 2015 earnings outlined by analysts for the world’s four biggest oil-service companies -- Schlumberger Ltd., Halliburton Co., Baker Hughes Inc. and Weatherford International Plc.